22 SEPTEMBER 2023

Singapore Enterprises Thrive at 20th China-ASEAN Expo (CAEXPO)

 

 

2023 marks a significant milestone in the 20 years of strategic partnership between China and ASEAN. With support from the Ministry of Trade and Industry (Singapore), SBF led a delegation of 47 companies and 11 trade associations and chambers (TACs) to CAEXPO in Nanning, Guangxi, China from 16 to 19 September. Minister of State for Trade and Industry Ms Low Yen Ling attended the CAEXPO opening ceremony and toured the Singapore pavilions.

 

During the event, SBF hosted the Singapore Day Seminar and a Singapore Night, facilitating interactions among representatives from Singapore and China to explore collaboration opportunities. SBF CEO Mr Kok Ping Soon also emphasised the recent accord between China and Singapore aimed at improving market entry conditions and fostering a more pro-business, open, and transparent business environment. He foresees this agreement opening doors for fresh collaborative prospects in trade, investment, the green economy, and the digital sector between Singapore and Chinese businesses.

 

 

WHAT'S NEW

NMP Mark Lee on Child Development Co-Savings (Amendment) Bill

Nominated Member of Parliament and SBF Council Member Mark Lee delivered his first speech in Parliament highlighting the business community’s voice on the Child Development Co-Savings (Amendment) Bill. Mr Lee said businesses support the proposed enhancements in paid paternity leave and unpaid infant care leave, but SMEs, with their lean workforce and front-line operational processes, may face challenges in the implementation. Mr Lee's speech also outlined proposed recommendations on how the government and businesses can work together to promote a pro-family, pro-worker, and pro-business environment.


 

Two in three Singapore firms plan to raise wages in the next 12 months

SBF released a survey on manpower and wages earlier this month, which shared that despite weakened economic prospects, most employers in Singapore are planning to increase staff salaries over the next year. SBF CEO Kok Ping Soon highlighted that firms have a positive employment outlook despite economic challenges and rising costs. Hence, differentiated and sustainable wage growth in line with productivity is important.

 

View report here


 


Nurturing women entrepreneurs to help them grow business skills

The Singapore Women Entrepreneurs Network (SG-WEN) marked its second anniversary at an event on 20 September. Established by SBF in 2021, the network has grown from 50 members to more than 500 today. During the event, Minister for Communications and Information and Second Minister for Home Affairs Ms Josephine Teo, said that one in four entrepreneurs here are women, up from about one in five in 2016. She added that women take on entrepreneurship today not just a matter of fulfilling their own aspirations, but also because they know that they can have a bigger impact.


 

SWAT Mobility: Pathway to Internationalisation

SWAT Mobility, a Singapore-based mobility solutions firm, has earned recognition as one of Forbes Asia's "100 Companies to Watch." It specialises in demand-responsive ride-sharing services, powered by a proprietary algorithm renowned for its efficient route planning. SWAT Mobility leads by offering advanced last-mile delivery planning and optimisation systems, empowering logistics operators. This contributes to lower pollution and carbon emissions through the deployment of the right number of vehicles to achieve the desired transportation outcomes. The case study was also featured in SBF’s Sustainability Policy Paper published in November 2021.


 

#ICYMI

What companies need to look out for when venturing abroad

Hear from Kelvin Kee, Executive Director for Global Division 1, SBF, and Grace Sai, CEO and Co-Founder of Unravel Carbon, as they discussed initiatives and insights from the 7th ASEAN conference held on 31 August by SBF. Find out about the importance of e-commerce for Singapore businesses expanding overseas, the challenges of balancing green initiatives with profitability, and the need for harmonised regulations in sustainability.

 

Crucial Role of Sustainability, Digitalisation, Upskilling, and CSR

Hear from Tan Chee Wee, Executive Director for Advocacy & Policy Division, SBF, as he shares the importance of sustainability, digitalisation, upskilling, and CSR for the long-term success of SMEs. SBF is a supporting partner of Xero’s Beautiful Business Fund which aims to help companies be more sustainable, upskill employees, do good for the community and become more efficient and productive through technology.

 

 

BUSINESS TRANSFORMATION

Digital Excellence: Journey of a Local Beer and Stout Distributor

The SBF Advocacy, Digitalisation & Transformation team recently visited SG5 PTE LTD, the primary distributor for Asia Pacific Breweries Singapore. SG5 collaborated with DBS Bank on a digital initiative, which is expected to save them 3,300 man-hours monthly and achieve an impressive 20% conversion rate among existing clients. SG5's dedication to digital excellence extends to exploring automated warehousing, last-mile delivery optimisation, route management, and fleet management opportunities. Reach out to [email protected] for advice on business transformation and digitalisation.

 

Unleashing the Future of Digital Business Solutions

Join us at this transformative event designed to empower enterprises. Organised by SBF and supported by Yonyou and Stone Forest IT, this event gathers industry innovators and thought leaders to explore cutting-edge strategies. Immerse yourself in Yonyou's role as an IMDA-approved e-invoice solution provider, showcasing seamless integration solutions and advanced applications to elevate your business processes. Learn about IMDA's "Chief Technology Officer as-a-Service" and Data Protection from Stone Forest IT, enabling your business to strategically harness technology for enhanced operational efficiency.

 

 

INTERNATIONALISATION

ASEAN Business Awards (ABA) 2023 Winners

Congratulations to the Singapore winners of the ASEAN Business Awards (ABA) 2023! The ABA serves as a distinguished recognition of exceptional businesses and individuals within the ASEAN region who place paramount importance on values such as innovation, sustainability, and inclusivity. It is a testament to the unwavering dedication to adopting best practices, implementing innovative strategies, and upholding a commitment to the pursuit of excellence, reflecting the enduring spirit of entrepreneurship and the drive for positive impact that reverberates throughout the ASEAN community.

 

Egypt Business Connect: Unlocking Opportunities from the Gift of the Nile

In partnership with HSBC Egypt, SBF organised a business forum to highlight promising business opportunities in Egypt. Egypt's Vision 2030 strategic plan highlights ambitious growth and development objectives, and the General Authority for Investment & Free Zones (GAFI) offers crucial guidance for companies looking to enter the Egyptian market. Reach out to [email protected] for further information on business expansion strategies in the Middle East and Africa.

 

 

TRAININGS

AT A GLANCE