SINGAPORE - Asean can be a neutral place for economies beyond this region to do business with each other, said Minister for Trade and Industry Chan Chun Sing on Wednesday .
The minister raised this point as he highlighted three key factors to Singapore's continued success as a global business hub."The competition that we face is not within Asean, but between Asean and other parts of the world," said Mr Chan."The more integrated the Asean region is, the more attractive it will be for others to invest here."
Another key factor to Singapore's success, said Mr Chan, is its domestic capabilities, and one important area is a collaborative business culture. One positive example has been in product development and research, he said, citing A*Star's model factory initiative. This sees established manufacturing companies coming together with A*Star to co-develop Industry 4.0 technologies.
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