Look beyond a ‘quick buck’: Gan Kim Yong’s advice to Singapore companies in China

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Singapore and China will discuss bilateral cooperation at an annual top-level meeting next week.

SINGAPORE - At a gallery in the Suzhou Industrial Park is a black-and-white photo of Singapore’s founding prime minister, Mr Lee Kuan Yew, who had been instrumental in setting up the park as the first government project between China and Singapore 30 years ago.

“With every new generation of leaders, it is important for them to build trust and understanding in their own way, because very often, this trust and understanding is very personal,” said Mr Gan during an interview with Singapore media on Oct 30. During next week’s meetings, Mr Gan expects both sides to focus on emerging areas relating to sustainability as well as collaborations on the digital front, including digital payments and trade documentation.

He believes that there are still business opportunities, even in the property sector that has faced a slowdown in recent years. Mr Gan’s advice to Singapore companies: “It’s not trying to make a quick buck, invest for a couple of years, make the profit, and take the money and run.”

 

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