Desmond Tutu was once quoted as saying, “Do your little bit of good where you are; it's those little bits of good put together that overwhelm the world.”
It is perhaps this good Singapore has done for itself that has overwhelmed the world by moving form a Third World country, at the time of independence from the British five decades ago, into the First World nation.
The Southeast Asian country with a population of just over five million and a land size much smaller than that of the Greater Accra Region, has been to able transform itself through the promotion of goods and services and attracting global commodities traders to establish their global of Asian home base in Singapore.
Today, Singapore is a thriving trading hub with a complete ecosystem for the energy, agri-commodities and metal & minerals trading clusters.
Described as one of the ‘Asian Tigers’, Singapore has partitioned its economy into two. Name; the internal economy and the external economy, with the latter structured to focus on the growth of Singapore-based companies in other countries and promoting international trade Spearheaded by International Enterprise (IE) Singapore, a governmental agency under the Trade Ministry.
Renowned worldwide for their dedication to quality and innovation, Singapore-based companies make ideal business partners. With its global network in over 35 locations spanning many developed and emerging markets, the agency connect businesses with relevant Singapore-based companies for their expansion.
This is done by helping to identify and cultivate relationships with Singapore-based partners that have a pan-Asian or global presence, and by keeping companies abreast of the latest trends and opportunities in Asia.
However, with Ghana’s record as the fastest growing emerging economy in the world, coupled with its political stability, strategic locations and abundant natural resources, Ghana presents itself as a good investment destination.
This as an incentive, a high powered delegation, lead by the Lee Yi Shyan the Trade and industry Minister of Singapore and the chief executive Officer of IE Singapore have signed a memorandum of understanding (MOU) with the Trade and Industry Ministry of Ghana and the Ghana Investment Promotion Agency (GIPC).
It is to promote business partnership in key growth sectors by working together to promote business partnership between Singapore and Ghana, focusing on areas such as logistics, oil and gas, and manufacturing.
The MOU is also to facilitate the sharing information about the business opportunities in Ghana and potential Singapore companies that have the expertise and to participate in these opportunities.
It is believed that the signing of the agreement would pave way for the mutual support in business missions and facilitate capability development and training.
IE Singapore also commissioned an Oversees centre in Accra, aimed to be Singapore’s window to the ECOWAS sub-region. The centre will promote economic partnership between Singapore and the region, both on a governmental and private level.
In a speech, Hon. Haruna Iddrisu stated that Ghana has a lot to gain from this bilateral agreement with Singapore. According to him, both countries have a common history due to the fact that they both attained independence from Britain, around the same period.
The Trade Minister who doubles as the Member of Parliament for the Tamale South Constituency was also of the view that Singapore is a good example of the fact that Ghana can propel itself from the low middle income status it is at the moment, to a first world country by working assiduously towards that goal.
Haruna Iddrisu further expressed government of Ghana’s commitment and readiness to work with it Singaporean counterparts to achieve the goals of the agreement.
The commissioning of the Ghana office of the Singapore Overseas Centre follows a visit by the Chief Executive Officer of GIPC, Mawuena Trebarh, to Singapore as part of her investment drive got Singapore to set up the office in Ghana, is hopeful the development will open up Ghana to the rest of Asia.
She told the media, collaboration with IE Singapore in areas of infrastructural development will be between them and the government of Ghana while the private sector is expected to partner Singapore in light manufacturing and the development of offshore oil rigs.
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