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Singapore Business Federation Annual Report 2008 Singapore Business Federation Annual Report 2008Business Mission to Indonesia: Jakarta & Bekasi(10 – 14 November)The SBF-led business mission to Jakarta and Bekasi in partnership with BKPM (TheInvestment Coordinating Board Republic of Indonesia) enabled participating companiesto get a better understanding of the ongoing developments in Jakarta and the businessopportunities and projects in Indonesia.The mission was successful in helping our members to generate business contacts andidentified partnerships and joint ventures. An estimated S$1.2 million worth of deals areexpected to be concluded in the next 12 months.VIETNAMBusiness Matching Session with Vietnamese Companies(17 November)The session was attended by 13 Vietnamesefirms and 29 Singapore companies,comprising 33 and 47 senior executivesrespectively from the finance, engineering,construction and raw materials industrysectors. It was a useful platform forcompanies from both sides to expand theirnetwork of potential business partners,explore opportunities for collaborationand to gain a better understanding of theinvestment climate in Vietnam. More than190 one-to-one contacts were established and S$16 million in sales was estimated tohave been generated during the business matching session jointly organised by SBF andThe World & Vietnam Report (W&V) of the Vietnamese Ministry of Foreign Affairs.Networking with Vietnam’sLeading Business Club(11 November)SBF hosted a business networking dinnerfor the visiting business delegation fromVietnam’s Leading Business Club – a clubof leading entrepreneurs from Vietnam’sbusiness community representing the mosttrusted and recognised company brands inVietnam. 55 Singaporean and Vietnameseguests representing 44 companiesbenefitted from this networking session.Business Mission to Hanoi &Ho Chi Minh (7 – 12 April)SBF organised a business missionto Vietnam (Hanoi & Ho Chi Minh) inpartnership with SembCorp ParksManagement and International Data GroupVietnam. Eighteen delegates representing15 companies visited the Vietnam ConsumerElectronics Expo 2008, Vietnam-SingaporeIndustrial Park, met with officials from theMinistry of Planning & Investment andInvestment and Trade Promotion Centre.They also had a networking session with theSingapore Business Group in Vietnam.Doing Business in Vietnam cum Post-Mission Session (1 August)This “Essentials for Doing Business in Vietnam” seminar organised by SBF wassupported by Sembcorp Parks Management, DHL Express, Khattar Wong Vietnamand EnterpriseOne Business Information Services (EBIS). Along with practicalbusiness information, this session provided the 93 participants with a comprehensiveoverview of Vietnam, including manufacturing opportunities, logistics and freightissues, various forms of foreign direct investments, financing options as well askey trends and upcoming developments. SBF also shared its findings from the SBFbusiness mission to Hanoi and Ho Chi Minh in April 2008.NORTH ASIAIn 2008, SBF consolidated business ties with several established as well asemerging provinces in China including Guangdong, Chongqing, Wuhan andNanning. It also enhanced contacts with both the Democratic People’s Republicof Korea and South Korea.CHINABusiness Mission toChongqing and Wuhan(20 – 27 April)SBF and InternationalEnterprise Singaporejointly led a delegationof 58 officials andbusiness delegatesfrom 30 companiesand organisations for anetworking and fact-finding mission to Chongqing and Wuhan in April. Mr. LeeYi Shyan, Minister of State (Trade & Industry) led the mission.The mission delegates met with leaders of Chongqing, were briefed by seniorofficials on the business opportunities there and established useful contacts. AChongqing-Singapore city planning networking session was also held. The ideaof forming a small consortium among members to explore potential projects wasmooted. SBF followed up to facilitate the interest of some members to evaluateprojects in the leisure business, manufacturing (specialized cement), urban planning,education and IT among others. About $125 million worth of business deals andprojects were considered by participating companies during and after the mission.MOU between SBF and CCPITGuangdong (16 September)SBF inked an MOU with CCPIT Guangdong toestablish the GSBEC aimed at promoting bilateraleconomic and trade cooperation betweenGuangdong and Singapore. The MOU was signedbetween SBF CEO, Mr. Teng Theng Dar andChairman, CCPIT Guangdong Council, Mr. ChenWen Jie, and was witnessed by Mr. Lim SweeSay, Minister in the Prime Minister’s Office andGuangdong Party Secretary Mr. Wang Yang duringhis visit to Singapore on 16 September 2008.To date, 21 Singapore companies including KeppelLogistics, ST Engineering, ST Electronics, UOB KayHian, Poh Tiong Choon and Chartered Institute ofTechnology have expressed interest to join theGSBEC and the council has started to provide ourmembers with relevant information regarding theGuangdong development.30 Review of 2008Review of 2008 31