Singapore companies seeking to break into foreign markets must team up instead of treating one another as rivals, Finance Minister Heng Swee Keat said yesterday.. Read more at straitstimes.com.
Singapore companies seeking to break into foreign markets must team up instead of treating one another as rivals, Finance Minister Heng Swee Keat said yesterday.
As one of four panellists at the event, Mr Heng urged businesses to set aside their differences and see the benefits of partnerships.Several members on the panel and in the audience also pointed out that while the local market might be small, the regional market and population were still growing. So, companies seeking growth had no choice but to venture overseas.
Several entrepreneurs at the sesion said it was hard to transform their businesses. They cited Singapore's shrinking workforce, strong foreign competition and fears that the transformation effort was not worth the initial investment.
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