Kwah Thiam Hock,
President and CEO,
ECICS Credit Insurance Ltd.
Introduction
Being a small city-state, Singapore is highly dependent on export and re-export activities. Apart from attracting foreign direct investment to the manufacturing and financial sectors, it is also taking steps to encourage the growth of local small and medium sized enterprises (SMEs).
There are two broad groups of SMEs in Singapore: those that deal in ‘intermediate goods’ and sell to multinational companies with a presence in Singapore as well as to other countries in the region; and those who deal in ‘finished goods’, SMEs who export to developed regions such as the USA and Europe.
