SINGAPORE - The chief executive of International Enterprise (IE) Singapore Lee Ark Boon is leaving on Dec 31 and joining the private sector, the Ministry of Trade and Industry (MTI) announced on Tuesday (Nov 28).
The trade agency's current deputy chief Kathy Lai will be appointed acting CEO with effect from Jan 1, 2018, until the formation of Enterprise Singapore in the second quarter of next year.
Enterprise Singapore is the name of the new agency to come up from the merger of IE Singapore and Spring Singapore to help companies both grow and internationalise that was announced in September.
IE Singapore has been promoting international trade and partnering Singapore companies to go global, while Spring has been helping local start-ups and small and medium-sized enterprises (SMEs) develop in areas such as financing and innovation.
Mr Lee was appointed CEO of IE Singapore in February 2016. Under his leadership, the agency led initiatives to strengthen the infrastructure ecosystem and transform the wholesale trade sector, said MTI.
He also played a key role in expanding IE Singapore's presence in new markets like Nairobi and Manila, stepped up collaboration with regional governments and facilitated Singapore's participation in government-to-government projects including the Chongqing Connectivity Initiative and the Andhra Pradesh Capital City Project, it added.