International Enterprise Singapore

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International Enterprise Singapore
Ie singapore logo.jpg
Agency overview
Formed 1983
Preceding agency
  • Singapore Trade Development Board (TDB)
Jurisdiction Government of Singapore
Headquarters 230 Victoria Street, Level 10, Bugis Junction Office Tower, Singapore 188024
Agency executives
  • Seah Moon Ming, Chairman
  • Lee Ark Boon[1], Chief Executive Officer
Parent agency Ministry of Trade and Industry
Website www.iesingapore.gov.sg

International Enterprise Singapore (Chinese: 新加坡国际企业发展局), or IE Singapore, is a statutory board under the Ministry of Trade and Industry of the Singapore Government that facilitates the overseas growth of Singapore-based companies and promotes international trade.

Purpose[edit]

IE Singapore is the government agency that promotes international trade and partners Singapore companies to go global.

We attract and anchor global trading companies in Singapore by promoting our unique advantages as a global trading hub. Today, Singapore is home to a complete ecosystem for the energy, agri-commodities and metals & minerals trading clusters.

Through our network of over 35 overseas centres and comprehensive assistance programmes, we partner Singapore companies to strengthen their global competitiveness.

IE Singapore will merge with SPRING Singapore to form Enterprise Singapore in Q2 2018. Enterprise Singapore will enable the growth of Singapore companies through an integrated support network to build business capabilities and access overseas markets.

History[edit]

IE Singapore originated from a re-organization of what used to be called the Singapore Trade Development Board (TDB). The TDB was formed in 1983 to develop Singapore as an international trading hub, promoting the nation's goods and services. Activities ranged from basic trade facilitation, to reviewing existing marketing policies, strategies and techniques. It explored opportunities in both traditional and non-traditional markets, and subsequently exported business systems and developed international offshore trading. It also had a role in trade policy after Singapore joined the General Agreement on Tariffs and Trade (GATT), to actively secure market access and lobby for free trade. It issued its own revenue stamps as well.

The re-branding coincided with an acknowledgment that Singapore had to move beyond its investment-led and electronics-dominated export base and to diversify her sources of growth. One of the key thrusts in Singapore's new economic strategy was to help Singapore-based companies internationalize and grow in an increasingly global market. TDB was thus renamed International Enterprise Singapore (IE Singapore) on 12 Apr 2002 to mark a strategic shift in activities, which would now focus less on export promotion, and more on helping Singaporean business start and develop their business overseas.

In this way, IE Singapore is analogous to other trade and export promotion agencies such as the Australian Trade Commission (Austrade) and the Japan External Trade Organization. However, their roles differ to reflect the different economic strategies envisaged by their respective governments, which also depend on the relative profile and orientation of their economies. IE Singapore, for example, focuses also on investment matters, while organizations such as JETRO have also shifted to activities such as import promotion. It is one of many examples of Trade Promotion Agencies (TPOs) internationally facing change, and having adjusted their mission appropriately to suit the times.[2]

References[edit]

  1. ^ "IE Singapore CEO to step down". Channel NewsAsia. Retrieved 27 January 2016. 
  2. ^ TPO's Facing Change. Singapore: New Mission, New Name. Adapted from the presentations of the 4th World Conference of TPOs

External links[edit]