SINGAPORE: As Singapore moves into the future, trade associations and chambers can have an important role to play in the nation's economy, said Deputy Prime Minister Teo Chee Hean on Wednesday (Mar 15).
These business groups can help their members transform, innovate and move into new markets as torch-bearers of their industries, Mr Teo said during his speech at the event to mark the change in the Singapore Chinese Chamber of Commerce and Industry's (SCCCI) leadership.
Tat Hong Holdings managing director Roland Ng took over as President of the SCCCI’s 59th Council, succeeding Teckwah Industrial Corp managing director Thomas Chua at the helm.
Mr Teo said SCCCI has been a leading advocate of transformation, innovation and internationalisation, and has helped local businesses provide feedback and raised suggestions.
“I encourage more trade associations and chambers to step forward to help members in this period of economic transition. The Government understands the challenges, especially for our smaller companies and older workers," Mr Teo said.
"By working together - Government agencies and the unions, the trade associations and workers - we can develop new capabilities, new innovations and new markets.”