Singapore remains open for business: PM

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Obama LeeDespite a challenging transition from rapid expansion to a period of slower growth as its economy matures, Singapore remains open for business and investments, the city state’s Prime Minister Lee Hsien Loong has said on his visit to the US on March 3.

Lee spoke to some 300 business leaders during a dinner hosted by the US Chamber of Commerce and US-ASEAN Business Council in Washington DC, Channel News Asia reported.

Addressing US businessmen, Lee said he is confident that Singapore and US companies “can seize the many opportunities in Asia and prosper together,”  and Singapore will maintain a pro-business environment to help firms succeed.

“We will maintain a pro-business environment which helps companies succeed in Singapore. We may not be the cheapest place to do business, but we promise efficiency, predictability and high standards of excellence,”  Lee said.

Total trade between Singapore and the US amounted to around $61 billion in 2012.

Lee also said the US should adopt a more active trade agenda with ASEAN and it will reap benefits as Southeast Asia is a big market for US goods and services. One such trade agenda is the Trans Pacific Partnership (TPP).

He welcomed Japan’s decision to join the TPP, and told the business community that keeping markets open is critical to America’s long-term economic growth and employment.

He also said that the US must strengthen its economic ties in Asia to maintain a leadership role and balance the rise of China.

 

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Reading Time: 1 minute

Despite a challenging transition from rapid expansion to a period of slower growth as its economy matures, Singapore remains open for business and investments, the city state’s Prime Minister Lee Hsien Loong has said on his visit to the US on March 3.

Reading Time: 1 minute

Obama LeeDespite a challenging transition from rapid expansion to a period of slower growth as its economy matures, Singapore remains open for business and investments, the city state’s Prime Minister Lee Hsien Loong has said on his visit to the US on March 3.

Lee spoke to some 300 business leaders during a dinner hosted by the US Chamber of Commerce and US-ASEAN Business Council in Washington DC, Channel News Asia reported.

Addressing US businessmen, Lee said he is confident that Singapore and US companies “can seize the many opportunities in Asia and prosper together,”  and Singapore will maintain a pro-business environment to help firms succeed.

“We will maintain a pro-business environment which helps companies succeed in Singapore. We may not be the cheapest place to do business, but we promise efficiency, predictability and high standards of excellence,”  Lee said.

Total trade between Singapore and the US amounted to around $61 billion in 2012.

Lee also said the US should adopt a more active trade agenda with ASEAN and it will reap benefits as Southeast Asia is a big market for US goods and services. One such trade agenda is the Trans Pacific Partnership (TPP).

He welcomed Japan’s decision to join the TPP, and told the business community that keeping markets open is critical to America’s long-term economic growth and employment.

He also said that the US must strengthen its economic ties in Asia to maintain a leadership role and balance the rise of China.

 

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