WHEN the next emerging tech giant thinks of expanding in Asia - particularly South-east Asia - Singapore should be top of their mind. That is the goal of Singapore Economic Development Board (EDB) managing director Chng Kai Fong, for whom Asean is a key focus in the year ahead.
"I'm trying to bring the next Google, Facebook, Alibaba - people that actually think about Asean as a market but are really not quite that size yet. I want to be able to facilitate their entry in, so that they set up their first presence (in Singapore).
"Though tech companies are not a new focus area per se, the EDB intends to concentrate on courting tech startups from the United States, China, and Asean this year.
Mr Chng notes current promising signs of regional startups starting to base their operations in Singapore, and Singapore startups also looking to expand in the region. The Block71 series of overseas incubators aims to encourage the latter trend, he says: "Increasingly you're going to see a lot more of that."
The startup angle is just part of a larger Asean strategy, as more global business leaders start to pay attention to the region. While Singapore already hosts a solid base of multinationals, more are now building their Asean team out of Singapore and setting up Asean headquarters here, attracted by the strong rule of law and institutional trust.
Mr Chng says: "That's the niche we have to carve for ourselves. We have to understand the region ... but at the same time we are different and that helps us play a role, especially in the higher-value activities."
The EDB is doing its part to raise the Asean angle with potential investors, says Mr Chng. "As part of our natural job, when we are speaking to companies about their operations and about investing here, we always ask them: 'What's your target market? What sort of services do you require?'"
A common answer is that they need product people that understand what kind of product sells in Asean markets. For this, Singapore needs to understand Asean much better, he adds.
To that end, Singapore is aiming to cultivate an "Asean-centric" workforce, from sending students on internships in neighbouring countries, to helping workers re-skill for regional roles via the Professional Conversion Programme for Southeast Asia Ready Talents.
Rather than a gateway to Asean - a term Mr Chng dislikes - Singapore can be a platform, convenor, or facilitator. "The world does business with Asean through Singapore. ... What we want also is to create a situation where Asean does business with the world through Singapore."
