The third edition of the Africa Singapore Business Forum (ASBF) is scheduled for 27-28 Aug. 2014, according to organisers International Enterprise (IE) Singapore, the government agency promoting trade and overseas investments,
PANA reports that the forum was set up to help African and Singapore companies to connect and identify joint business opportunities, and has been hosted by Singapore since 2010.
ASBF 2014 will address a wide range of critical issues on Africa’s economic landscape, provide insights into Singapore’s competitive advantages as well as identify opportunities for strategic collaboration between both regions.
The forum has brought together close to 1,000 business leaders and government leaders from 30 countries.
Singapore has emerged the largest investor in Africa among the Association of South East Asian Nations (ASEAN) countries, according to the latest UN World Investment Report 2013.
Located strategically in the heart of Southeast Asia, Singapore’s economic ties with Africa have been on the rise.
As of end 2012, Singapore’s investments into Africa saw a compound annual growth rate (CAGR) of 11.2% over the previous five years, reaching US$15.9 billion.
Singapore-Africa trade has also increased, reaching US$11.1 billion in 2013, achieving a strong CAGR of 11.7% since 2009.
According to IE Singapore, there are currently over 60 Singapore companies operating in over 50 countries in Africa.
Projects span a wide range of sectors – agri-business, food & beverage and oil & gas, to eGovernment services, information & communications technology, and transport & logistics.
“Singapore companies are taking concrete steps to participate more actively in Africa’s growth. Given Africa’s significant development needs, we see an opportunity to collaborate and develop long-term solutions in many areas including urban development & planning, eGovernment, oil & gas, transport & logistics, manufacturing & special economic zones, technical and vocational training, power, water and affordable housing,” Said Mr G. Jayakrishnan, Group Director for Middle East and Africa, IE Singapore.
”Singapore can contribute actively as governments across Africa look to diversify growth and improve both business and social infrastructure for their countries,” he added.