SRBF® to strengthen business collaboration for regional connectivity while inaugural SRIS positions Singapore as Asia’s infrastructure hub
- Over 800 top business leaders and senior government officials from 45 countries and regions expected to attend this year’s SRBF® and SRIS.
- MOUs to be inked at SRBF® to foster stronger third-party market collaboration in the region
- SBF and PwC Singapore jointly releases results of second regional business survey on BRI
A flagship event of the Singapore Business Federation (SBF), SRBF® will be held on 15 August 2019 at The Ritz-Carlton Millenia. The event will be followed by the inaugural Singapore Regional Infrastructure Summit (SRIS) on 16 August. Over the course of two days, more than 800 business leaders and senior government officials from 45 countries and regions are expected to convene to network and explore BRI-related business opportunities. A total of 70 speakers and panelists from across the globe will also be sharing their experience and expertise.
Fifth Edition: Singapore Regional Business Forum (SRBF®)
Commemorating Singapore’s Bicentennial and the 5th anniversary of the SRBF®, this year’s forum underscores Singapore’s role as a key connector and gateway city for international trade and commerce, reinforcing its proposition as an ideal launchpad for regional infrastructure projects, especially BRI initiatives.
Themed “Strengthening Business Collaboration for Regional Connectivity”, the forum focuses on the importance of collaboration and connectivity within the region to ensure the success and effectively address challenges in regional projects such as the BRI.
Guest-of-Honour Mr Teo Chee Hean, Senior Minister and Coordinating Minister for National Security, will deliver the opening keynote address, while Mr Jin Liqun, President of the Asian Infrastructure Investment Bank is scheduled to give a keynote speech.
This year’s Forum features a plenary session focused on collaboration on regional projects as well as four discussion tracks, namely “Lubricating the Wheel – Investing in BRI Projects and Project Financing”; “Dispute Resolution in BRI Projects”; “Showcase & Implementation of BRI Projects in ASEAN and the Region” and “New International Land-Sea Trade Corridor”. Other highlights include MoUs signings, business matching and networking sessions and as well as the release of the results of the second Regional Business Survey on the BRI.
A series of memorandums of understanding (MOUs) for regional collaboration on BRI and infrastructure projects will also be signed at the forum. These MOUs reflect increasing interest by companies to further enhance joint collaboration across the region and will serve to deepen partnerships among neighbouring countries.
Second Regional Survey on the BRI
SBF and PwC Singapore will jointly release the results of the second Regional Business Survey on the BRI. Titled “Delving into the BRI: How Regional Players Plan to Leverage on BRI Business Opportunities”, this invitation-only survey of senior representatives from multinational organisations, professional services firms and financial institutions seeks to understand how organisations have participated in the BRI since its launch six years ago in 2013 by Chinese President Xi Jinping.
Conducted in June and July 2019, the online survey asked respondents on their interest, level of involvement and plans with regards to BRI-related opportunities. (Please refer to Annex A for the key findings of the survey.)
Ms Jennifer Tay, Partner specialising in Capital Projects & Infrastructure, PwC Singapore said, “The cross-border nature of the BRI makes it a significant catalyst in regional infrastructure development and is likely to bringing together investors across regions to jointly develop much-needed infrastructure projects, especially for underserved communities. In order for BRI-related projects to be successful, besides international investors providing the funding, capacity building for local government to manage these projects and investments is equally important.”
Inaugural Singapore Regional Infrastructure Summit
Themed “Embracing the Regional Infrastructure Opportunities”, the inaugural SRIS showcases infrastructure opportunities in Asia and how Asian countries can harness the economic and social benefits arising from infrastructure developments for sustainable economic growth and long-term prosperity.
Guest-of-honour Ms Indranee Rajah, Minister in the Prime Minister’s Office and Second Minister for Finance and Education will deliver the keynote speech. Special guest speaker Mr Giulio de Carli, founder and managing partner of One Works, who has delivered a wide range of high-profile projects including the master plan for the Italian Airports Network commissioned by ENAC (Italian Civil Aviation Authority) will also give a keynote address.
In addition to the plenary session on “Bolstering Asia’s Economic and Social Growth through Infrastructure Development”, the event also features five discussion tracks showcasing infrastructure opportunities in key ASEAN markets such as Indonesia, Myanmar, Vietnam and Thailand as well as a sharing session by Infrastructure Asia on its role in catalyzing infrastructure development in Asia.
SBF Chairman Mr S.S. Teo said, “This is a milestone year for SRBF®. Over the years, we have witnessed increased interest and involvement of the business community in Singapore and the region in BRI-related projects.
“The SRBF® has served as a beneficial platform to examine practical approaches to bridge gaps and empower organisations with the insights and skills to overcome challenges so they can ride on the prolific infrastructure developments in the region for greater growth. At its heart, the BRI is about collaboration and connectivity. By bringing all the stakeholders together, we hope to bring about new connections and fresh opportunities for our businesses.
“I’m also pleased to introduce the Singapore Regional Infrastructure Summit, a new initiative driven by the SBF Infrastructure Committee to bring together regional players in the infrastructure space. Together, we can position Singapore as Asia’s infrastructure hub and the gateway to region’s infrastructure opportunities and ecosystems.”
SBF Vice-Chairman and Chairman of the SBF Infrastructure Committee Mr Pek Lian Guan said, “Driven by factors such as urbanisation, increase in mobility, trade competitiveness and technological breakthroughs, we see huge potential and demand for infrastructure growth and spending in the region.
“Effective partnerships are critical to successful infrastructure projects which are vital for Asia’s long-term growth and present significant investment opportunities. Through SRIS, we hope to facilitate infrastructure development by connecting multiple stakeholders so we can promote sustainable growth and improve connectivity in the region.”
On Chinese companies partnering Singapore companies to enter third-party markets, Mr Tan Zhiyong, MCC Singapore, said, “Singapore was one of the first countries to support China’s Belt and Road Initiative. The five memorandums of understanding signed by the two countries this year included the joint development of third-party markets and establishment of a joint investment platform.
“This provides a development direction for entrepreneurs in China and Singapore, especially those engaged in infrastructure projects. The combination of new urbanisation models and industrial development will focus on addressing the development problems of some underdeveloped countries and regions by giving enterprises access to new business opportunities and markets, as well as benefitting the people in the Belt and Road Initiative countries.”
The SRBF® and SRIS is supported by Business China, China Enterprises Association (Singapore), Infrastructure Asia, European Chamber of Commerce (Singapore), and the Singapore Chinese Chamber of Commerce & Industry.
As of 30 July 2019, the Forum is sponsored by MCC Land (Singapore), China Construction Bank, DBS Bank, Pacific International Lines (PIL), PSA International, Chec Overseas Investment (CHEC), China International Capital Corporation (Singapore) (CICC), China Taiping Insurance (Singapore), China Telecom, Industrial and Commercial Bank of China Singapore Branch, Poh Tiong Choon Logistics, Shanghai Pudong Development Bank Singapore Branch, Tiong Seng Contractors, and V3 Group.