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SINGAPORE: Organisers of the Singapore International Water Week (SIWW) are still expecting funds to flow in despite the current downturn.
They are aiming to match or even exceed the S$370 million worth of deals signed at last year's event.
In Southeast Asia alone, the water sector is estimated to be worth over S$14 billion and it is expected to grow at around 20 per cent annually.
Over the next four days, a wave of 10,000 visitors is expected to wash through this year's Water Week.
Speaking at the launch of the five-day event on Monday, Deputy Prime Minister Professor S Jayakumar highlighted the need to integrate water management infrastructure with overall urban planning and development.
However, he added that each city needed to adapt technological advances to its unique context.
This year's water week focuses on infrastructure and technology building on last year's broad themes of policy and governance.
The event sees 420 companies from some 26 countries taking part, up from the 389 firms last year. There will also be four new regional pavilions.
Jimmy Lau, co-organiser, SIWW, said: "Considering that it's a difficult time, this wasn't a walk in the park, but we managed to get 80 per cent of the companies returning and I think that speaks for itself."
Despite the gloomy economy, the Singapore pavilion has grown by five fold in comparison to last year and over half the companies participating are new to water week.
The Singapore pavilion will house over 100 companies.
Local player Sembcorp has also returned to the expo and said that last year's show attracted a wide range of potential customers, including representatives from government agencies.
The event also offers networking opportunities for participating companies.
Choo Kum Chee, senior manager, Water, Sembcorp, said: "Since the experience last year, we have attracted a lot of high level government officials to SIWW. For Sembcorp, these are the potential customers who we would want to network with. This is how we tell them what we are capable of."
This is the second year the convention is being held and is expected to boost Singapore's status as a regional water development hub.
Given the high level of purchasing power held by government agencies visiting the show, some are expecting the number of deals signed this year to exceed last year's.
Micheal Toh, managing director, SIWW, said: "We are very encouraged with the response that we have this year. In fact, I think we have seen more companies exhibiting and taking part at the expo.
"So I think moving forward, it's capturing the deals they are making, and the week has just started so by the end of the week, we'll be able to tally up. We don't have the numbers right now because some of the meetings and the deals are going to be announced throughout the course of the week."
The convention aims to serve as a platform for water technology development - showcasing the industries' latest innovations, including energy-saving initiatives. - CNA/vm
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