Speech by President Halimah Yacob at SCCCI 60th Council Installation Ceremony

Ministers,

Mr Roland Ng, President SCCCI,

SCCCI Council Members,

Distinguished Guests,

Ladies and Gentlemen,

I am happy to be here this afternoon at the 60^th Council Installation Ceremony of the Singapore Chinese Chamber of Commerce & Industry (SCCCI).

Over the last few years, SCCCI has laid important groundwork in supporting local industries.  These efforts will play a key role in driving Singapore’s future economy.

The economy and business environment today is changing rapidly.  To stay relevant and continue to add value to its members, SCCCI has strived steadily to innovate.  In tandem with the transformation of our industries, SCCCI spearheaded the development of the Trade Association Hub, in partnership with the Government.  SCCCI also initiated the Trade Association Committee to drive programmes to strengthen the capabilities of trade associations so that they can take on a direct and bigger role in industry development. SCCCI has reached out to more than 14,000 SMEs through business advisory sessions, and facilitated group-based upgrading (GBU) projects for over 40 companies in the last three years.

Heartland retailers are another group that have benefited from one of the GBU projects at the SCCCI SME Centre. A cashless payment IT solution with business analytics function has helped to improve productivity, and increase the efficiency of payment transactions. The retailers would also better understand their customers’ behaviour and expectations to improve business performance.

Moving forward, the SME Centres across Singapore will continue to focus on driving capability upgrading efforts through targeted workshops and step up on GBU projects.

Given our small market, SCCCI has also been very active in helping its members expand into new markets and internationalise. In particular, it has led many missions to ASEAN countries and China to uncover fresh opportunities for businesses.  The Singapore Enterprise Centre (SEC) located in Shanghai, was established in collaboration with Enterprise Singapore (ESG). More than just a physical office, the SEC provides valuable one-stop services to Singapore companies and entrepreneurs venturing into China, including business registration, advisory and partner matching services, which are very much sought-after by our companies. The set-up of a new SEC in Chengdu in Q2 2019 will also provide a secondary node for companies to access new opportunities in Western China.

With the planned integration and synergising of the SEC with other ESG initiatives, such as its Plug and Play Network (PPN), Singapore companies can look forward to a more concerted and holistic follow-through from developing domestic capabilities to scaling up, and venturing into new overseas markets in China.

The World Chinese Entrepreneurs Convention (WCEC) is another valuable platform initiated by SCCCI in 1991 to promote interaction and collaboration among the Chinese entrepreneurs globally. I understand that SCCCI has since taken over the Secretariat function of the WCEC in 2017.  I am confident that you will steer this platform in a way to open up even more inroads for our Chinese entrepreneurs.     

I also want to commend SCCCI’s efforts in promoting succession both within the Chamber and in enterprises.  SCCCI has brought in outstanding young entrepreneurs into its Council to groom them as next-generation leaders. SCCCI has also consistently provided strong support to family businesses, which constitute an important part of Singapore’s economy.  SCCCI’s active role in promoting the smooth succession and transformation of our local family businesses is commendable, and will support them in staying relevant and thriving in the years ahead.

SCCCI is now more than 100 years old.  It has successfully overcome many challenges and accomplished much due to good forward planning and constantly innovating to stay relevant.  Given its sterling track record, I am confident that the new Council will continue to play a significant role in the growth of our nation’s economy in the years ahead.

I wish SCCCI every success and look forward to its continued support in uplifting the social well-being of our local enterprises.

Thank you.