HUB Wed, Jul 1, 2016
By Narendra Aggarwal
http://www.businesstimes.com.sg/hub/swiss-state-visit/swiss-business-association-keen-to-play-a-bigger-role
Swiss business association keen to play a bigger role Jul 12, 2016 5:50 AM
AS both Singapore and Switzerland place great value on human capital and local talent, developing them further offers an avenue for fruitful mutual cooperation, says Tom Ludescher, president of the Swiss Business Association (SBA) in Singapore. „The average education is very high, so are the multi-lingual and cultural skills. This, in combination with the low level of corruption and high credibility of the governments, provides a truly trustful and powerful mix. With a university landscape of world reference in both countries, combined with highly motivated and engaged people with good work ethic, the base for existing and future talent is strong,“ explains Mr Ludescher. „Striking evidence of this are the top ranks repeatedly taken by Switzerland and Singapore in global talent rankings, such as Insead‘s annually published index about the world‘s leading places for growing talent for today and tomorrow. So education is key on all levels.“ Switzerland has, with its dual educational system, a strong track record in developing talent with a strong link to business, also thanks to the vocational training being deeply embedded across all industries. An intensified exchange in this regard can certainly serve as an inspiration for Singapore, the SBA chief notes. „And maybe one day Switzerland and Singapore will even consider implementing free movement of persons, including students, employees and entrepreneurs. This would be a big step towards an even-closer exchange of know-how and talent in both directions and allow our people to have a most educational and inspiring insight into each other‘s way of living and working.“ The SBA is the Swiss Chamber of Commerce in Singapore. It has over 230 members, from startup companies and well-established SMEs to large multinationals, representing all major sectors of the Swiss economy from services including banking and finance, insurance and reinsurance, transport and logistics and we-
„Singapore‘s central location, quality infrastructure, highly skilled workforce, and business-friendly fiscal measures are a major draw for Swiss businesses,“ says Mr Ludescher.
alth management to all kinds of high-tech industries. The SBA offers its members a networking platform and facilitates doing business in Singapore through an active sharing of knowledge among its members. It is also actively engaging with local companies and entrepreneurs as well as with other chambers of commerce in Singapore and the region. „Last but not least, it fosters trade growth between Switzerland and Singapore,“ says Mr Ludescher. The SBA president sees the business relations between Singapore and Switzerland as being close and mutually beneficial. „Singapore‘s central location, quality infrastructure, highly skilled workforce, and business-friendly fiscal measures are a major draw for Swiss businesses. In addition, the Singapore-Switzerland free trade agreement incentivises Swiss companies to select Singapore as a regional hub for their operations. Today, there are over 400 Swiss companies in Singapore, employing approximately 28,000 people in the country. Switzerland is among the top five investors in Singapore, demonstrating the continuous importance of Singapore as the key hub for Swiss companies in South-east Asia.“
Singapore is Switzerland‘s largest trading partner in the Asean region. These close ties are also reflected in the active Swiss-Singaporean business community in Singapore. The Swiss-Singaporean relationship is, however, more than just a mutually beneficial collaboration. Switzerland and Singapore have become great friends over the past 50 years, and are a continuous source of inspiration for each other, he adds. The SBA chief notes that the state visit of Swiss President Johann N Schneider-Ammann underlines the importance of Singaporean-Swiss partnership and friendship. „Switzerland and Singapore have a lot in common and share some important values, such as reliability, integrity and, most importantly, honouring one‘s word. These shared values, combined with a culture of continuous innovation, make Singapore and Switzerland attractive for foreign companies and investors, as can be seen from the top scores in international rankings on business friendliness and competitiveness. The long-term stability, predictability and credibility give comfort for local talent and industries to commit themselves to their homeland and attract foreign talent and foreign investors.“ 1