Looking Back and Moving Forward
The Singapore economy is expected to show slow recovery of 3.5 to 4 per cent in 2013. The same modest growth of 2 to 4 per cent is also to be expected in 2014. A certain degree of volatility still shrouds the Singapore economy with the eventual tapering of QE3 and the debt ceiling issue in the US; the possible recurrence of sovereign debt crises in Europe’s peripheral economies; and China’s policy adjustments to rebalance the economy.
Despite all these uncertainties and slow growth that summarises most of 2013, Singapore continues to take the top spot in The World Bank’s Doing Business 2014 report. A high ranking on the ease of doing business index denotes that the regulatory environment is more conducive to the starting and operation of a local firm. The aggregate ranking on the ease of doing business is based on the following indicators: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.
Singapore is also ranked as the second most competitive economy in the world on The Global Competitiveness Index 2013–2014 rankings, scoring high in the areas of economic performance, government efficiency, business efficiency and infrastructure.
Global Yellow Pages Limited (GYP) believes that all these international recognition prove that despite the modest global economic advancement, we can still move forward and unearth rich opportunities within Singapore. A leading publisher of consumer, business and trade directories, GYP takes pride in helping the Singapore economy via its Singapore Information Services Pte Ltd (INSIS) trade directories.
The Singapore Industrial Sourcing Guide is one such INSIS directory and its goal is aligned with the Singapore government’s vision of enhancing trade growth between Singapore and the world. We are pleased to present the 2014 edition for local and foreign corporations and entrepreneurs.
This year, we have collaborated with more government bodies to intensify the Singapore Industrial Sourcing Guide’s value for its users.
We worked with the National Heritage Board (NHB) to make this a special edition for readers by featuring a brief, yet comprehensive history of Singapore’s flourishing manufacturing industry. Read about Singapore’s evolution from being an entrepôt trade centre to being a robust manufacturing hub.
The colourful history of Singapore’s manufacturing industry will be celebrated by the NHB in an exhibition that is slated to open in mid-2014. Fifty made-in-Singapore brands will be showcased, as a result of a research project that aimed to trace the rise of Singapore’s manufacturing industry. Do look out for the 2015 edition of the Singapore Industrial Sourcing Guide, which will feature richer information on the history of Singapore’s manufacturing industry and zoom in on these 50 made-in-Singapore brands.
To enhance the value for export, re-export and import companies, we also added a comprehensive list of Customs schemes and licenses as well as essential information for exporters and importers, contributed by the Singapore Customs; and information on the Major Export Scheme, contributed by the Inland Revenue Authority of Singapore (IRAS).
This edition also shines the spotlight on the winners of various prestigious awards given out in 2013. Among the awards is the Asian Manufacturing Awards which serves a platform to recognise companies providing industrial technology solutions and value-added services that are enabling companies in Asia to develop and sustain the high levels of manufacturing performance.
The Singapore Workforce Development Agency (WDA) and Singapore Manufacturing Federation (SMF) also presented the third WDA-SMF Productivity & Innovation Awards in October this year. This nationally-recognised award is presented to those who have achieved substantial results in the WSQ Certified Productivity and Innovation Manager (CPI Manager) and SME Quality Initiatives to Assist, Nurture and Grow (SME QIANG) programmes.
The Singapore Environmental Achievement Awards (SEAA) was given out to honour companies who promote environmental initiatives and awareness within their organisation. Companies that are recognised by the SEAA join an elite pool of organisations from the region that have affirmed their commitment to environmental excellence and protection of the natural environment. Also featured in this edition is the Singapore Furniture Industry Awards (SFIA) 2013. The SFIA is designed to honour outstanding industry individuals and enterprises that have displayed the spirit of entrepreneurship and made significant contributions to the furniture industry in Singapore. Read more about these illustrious awards and distinguished companies on Events section.
We also highlighted various organisations in Singapore have launched productivity initiatives, schemes and partnership events to help those within their industry. Among those featured are the Singapore Manufacturing Federation (SMF) which champions the interests of Singapore’s manufacturing sector; the Association of Electronic Industries in Singapore (AEIS), which represents all facets of the electronics and supporting services industries; and Singapore Association for Convention and Exhibition Organisers and Suppliers (SACEOS), which has been contributing significantly in making Singapore the best event venue in Asia.
Also featured are the Singapore Business Federation (SBF), the apex business chamber which champions the interests of the Singapore business community in trade, investment and industrial relations; the Singapore Association of Pharmaceutical Industries (SAPI) which aims to supports legislation that seeks to improve the pharmaceutical trade in Singapore, represents its members to the government on issues regarding regulations that pertain to the pharmaceutical industry, and assists members in solving their problems in the industry like parallel imports, counterfeit products and patent infringements, among others; and the Singapore Semiconductor Industry Association (SSIA), the voice of Singapore’s semiconductor industry.
Furthermore, a few key manufacturing companies are highlighted in this edition’s Featured Companies section.
Our website, INSIS.com, has been up and functional since its launch in 2012, connecting Singapore businesses to the rest of the world online, 24/7. You can find a sample e-book on our website too. The Singapore Industrial Sourcing Guide 2014 is an informative, rich and valuable extension of our ethos and we trust it will open doors of opportunities to those who use it.
Freddie Tan
Publishing Director
Global Yellow Pages Limited