Singapore, Monday, 22 March 2010 - Singapore companies looking overseas for opportunities in ICT, finance, education, healthcare, transport and logistics sectors, can find it in the vast range of projects available in Botswana, speakers at the Botswana Business Forum said today.
Jointly organised by the Singapore Business Federation (SBF) and the Botswana Export Development and Investment Authority (BEDIA), the half-day event was held in conjunction with the visit by the Honorable Mrs. Dorcas Makgato-Malesu, Minister for Trade and Industry, Republic of Botswana. She was accompanied by a 17-member delegation comprising officials from both government and business, representing the ICT, telecommunications, education, healthcare, and transport and logistics sectors.
This is the second such mission to Singapore since Botswana President Seretse Khama Ian Khama's State Visit in June 2009 when he witnessed the signing of a Memorandum of Understanding (MOU) between SBF and BEDIA.
Today's Forum enabled some 69 senior business executives mainly from education, ICT, transport and logistics sectors to have a better understanding of the investment opportunities in Botswana, one of the most dynamic countries in Southern Africa.
Since her independence in 1966, Botswana has achieved middle-income status in 2008, and is the only country in Africa to have a middle-income majority. Its developmental success may be attributed to an abundance of valuable natural resources, high political stability, consistent public policies, and good governance. Botswana is ranked third among Sub-Saharan countries in the World Bank's Doing Business 2010 report, after Mauritius and South Africa. It is also ranked internationally as the most transparent country in Africa and amongst the least corrupt globally.
While Botswana's total trade with Singapore stood at only S$19.8m in 2008, Singapore companies' potential for success in Botswana, especially in the high value-added, services area, is very promising. SBF CEO Mr. Teng Theng Dar said, "(Botswana's) small population means that like Singapore, much investment has been poured in to develop human capital as a strategic resource. As a result, Botswana boasts of a highly educated, English-speaking workforce."
"Combined with a stable political environment and sound public infrastructure, Botswana presents opportunities for its economy to enter into high value-added business services like ICT, finance, education, healthcare and transport and logistics. These sectors happen to be where Singapore companies are able to participate in and I hope that we can seize these opportunities as they are presented before us,"Mr. Teng shared.
On continuing efforts to engage Singapore, Mrs Makgato-Malesu said, "Singapore provides world-class infrastructure that enables them to attract companies to invest, resulting in it being the regional hub for a range of business services. We hope to be able to tap on Singapore's expertise and experience in this area, and make Botswana a preferred hub for businesses operating in the Southern African region."
The Botswana delegation will spend two days in Singapore and will meet various government agencies and local companies, and embark on visits to various technology and industrial parks in Singapore.
As part of their ongoing efforts to promote growing opportunities and interests in the African markets, SBF and International Enterprise (IE) Singapore will jointly organize the inaugural Africa-Singapore Business Forum (ASBF) in July this year. The ASBF aims to be the flagship event that promotes greater awareness of the business opportunities in Africa, and likewise, to enable African companies to explore Singapore as a launch pad to other markets in Asia.
About the Republic of Botswana
Botswana is a country in Southern Africa, bordered by South Africa to the South, Namibia to the west, Angola and Zambia in the North and Zimbabwe in the east. It has a population of fewer than 2 million people and one of the highest GDP per capita (US$12,100) on the continent. Its key industries include diamond mining and cattle raising, with diamond production making up one-third of their GDP and three-quarters of their total exports. Botswana boasts of a highly educated, English-speaking workforce, which presents opportunities for diversifying its economy into the high-value added business services sectors. It has set up hubs in Education, Healthcare, ICT and Transport and Logistics to coordinate the inflows of investments in these areas.
About Botswana Export Development and Investment Authority (BEDIA)
BEDIA is an autonomous private sector led organisation mandated by an act of parliament (1997) to encourage, promote and facilitate the establishment of export-oriented enterprises and selected services which will result in economic diversification, rapid economic growth and creation of sustained employment opportunities.
The Authority is also entrusted with the task of identifying market outlets for locally manufactured products and construct factory building for setting up of manufacturing enterprises. BEDIA also works closely with the Government of Botswana to ensure that the country has a conducive investment climate.
BEDIA prides itself in the professional service that it provides to potential investors and it is "THE FRIEND OF THE INVESTOR".
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