Enterprise Singapore (ESG), the agency that will be born this April from the union of International Enterprise (IE) Singapore and Spring Singapore, will cater to the wide spectrum of local companies as it supports them for future growth.

Whether big or small, traditional or new industries, their various needs will not be ignored, Trade and Industry Minister (Industry) S. Iswaran said in Parliament yesterday.

What they need also hinges on their stage of growth, the overseas markets they are eyeing and rapid technological changes, all of which affect each business in a different way, said Mr Iswaran.

He was replying to issues raised by 11 MPs during the debate on the Enterprise Singapore Board Bill, before it was passed by Parliament. The MPs include Mr Liang Eng Hwa (Holland-Bukit Timah GRC), Non-Constituency MP Leon Perera and Mr Saktiandi Supaat (Bishan-Toa Payoh GRC).

Mr Perera noted that some firms are not in a hurry to grow radically but may need more help in areas such as productivity, going global and succession planning.

Others with the potential to be regional or global champions would need "more aggressive support", he said. Their need would include human capital, financing or foreign direct investment, so they can locate parts of their global supply chain abroad while keeping the critical headquarters functions here, he added.

Mr Liang's concern is that size could lead to excessive hierarchy. He called for officers at various levels to be empowered to " carry out their mission of transforming the economy".

Mr Iswaran said that in setting up ESG, "we have taken care to preserve the competencies, networks and culture that Spring and IE have built up over the years".

Training and mentorship will be given to officers of IE and Spring, he added.

"Enterprise Singapore will also continue to recruit officers from both the public and private sectors, with relevant industry and international business experiences, to support its work," he said.

Yasmine Yahya