The Straits Times
www.straitstimes.com
Published on Dec 15, 2012
 

EDB focused on attracting investments to S'pore

 
 

THE headline of political correspondent Robin Chan's article ("EDB wants MNCs to invest in Johor's Iskandar region"; Thursday) and the opening sentence stating that "the EDB, long synonymous with bringing foreign investments into Singapore, is telling MNCs to go north of the border" may convey the wrong impression to readers.

The Economic Development Board's (EDB) focus has been, and continues to be, to attract high value-added investments to Singapore in activities such as manufacturing and services, headquarters as well as innovation.

The EDB's encouragement of multinational corporations (MNCs) to consider Iskandar Malaysia is made in the context of those companies who find the twinning model between the two countries valuable. This twinning model is similar to the approach that Singapore has adopted since the 1990s with the Indonesian islands of Bintan, Batam and Karimun (BBK). It is therefore incorrect to state that the EDB is simply "telling MNCs to go north of the border".

The EDB continues to welcome companies which are looking to expand in Asia, and Iskandar Malaysia is an opportunity to leverage a complementary space.

As MNCs seek to establish more economic activities in South-east Asia, there will be greater investment opportunities for Singapore and Malaysia, working closely on Iskandar Malaysia, and for Singapore and Indonesia, working closely on BBK.

The complementary value of Singapore and our neighbouring countries appeals to many MNCs.

Myrna Poon (Ms)

Director, Marketing & Communications

Singapore Economic Development Board