Singapore hosts forum to boost regional connectivity

Chairman of the Singapore Business Federation Teo Siong Seng (Photo: bloomberg.com)

Singapore (VNA) – The Singapore Business Federation (SBF) held a forum in Singapore on August 16 to promote regional cooperation and connectivity. 

Nearly 500 delegates, including government officials, policy makers, and entrepreneurs from 38 nations and territories got engaged in the event to share experiences in developing infrastructure, tourism, finance and information technology. 

Participants stressed the need to increase multinational collaboration for prosperity, peace and stability, adding that this is particularly important to such developing countries as Vietnam. 

Chairman of the SBF Teo Siong Seng called on ASEAN member states to map out their own economic development orientations to develop the ASEAN Community into a unified and more dynamic community. 

ASEAN with its young population and high levels of urbanisation and improved education, will have more development prospects than other regions, he said. 

Singaporean Ambassador Ong Keng Yong, who was former ASEAN Secretary General, suggested Vietnam continue opening its market and build a system enabling the flow of trade, goods, capital and high-quality workers. 

Experts advised businesses to adapt to rapid global changes by grasping new opportunities and expanding markets through boosting regional cooperation and connectivity. 

The bilateral and regional trade and investment agreements could create a premise for the establishment of a large business network of around 60 nations with a combined population of 4.4 billion, they added. 

Participants also underlined the significant role of Singapore as a gateway in the regional market. Its strategic position in the East-West Economic Corridor along with its favourable business environment has turn the country into an ideal destination for multinational groups and companies./.