SPEECH BY MR S. ISWARAN, MINISTER OF STATE, MINISTRY OF TRADE & INDUSTRY, AT MICE ASIA 2006, 3 JULY 2006, 9:00AM, AT RAFFLES THE PLAZA, SINGAPORE

Distinguished Guests,

Ladies and Gentlemen

Good morning,

Introduction

I am delighted to join all of you today for the opening of MICE Asia 2006 organised by Naseba. Singapore is pleased to host the event again following the inaugural event in 2005.MICE Asia is an important platform for key decision makers in the MICE industry to exchange ideas as well as explore new possibilities. It serves to reinforce Singapore’s position as the MICE hub of the region.

MICE Industry in Singapore

In 2005, about a quarter of the 8.9 million visitor arrivals to Singapore are Business Travel andMICE or BTMICE visitors. As a group, BTMICE visitors contributed 30 per cent of the $10.8 billion in tourism receipts. Meetings and incentive travel alone account for more than 60 per cent of Singapore’s MICE arrivals today.

Over the years, companies such as Amway Corporation, AstraZeneca China and Herbalife have found Singapore to be the preferred destination for incentive trips for their staff. Amway Corporation is a global leader in the multi-level marketing industry, which generates worldwide retail sales in excess of US$6.4 billion. We are pleased to note that Amway Corporation has consistently sent mega incentive groups to Singapore since 2004 when we welcomed 1,500 of its top sales achievers from India. Singapore will also play host to 10,800 sales professionals from Amway China who will be in town from July to August.

Indeed, Singapore’s track record of successfully executing such large scale MICE programmes has been well recognised internationally. The International Congress and Convention Association has ranked Singapore as the world’s second TopConventionCity for the second year running.

New value Proposition for BTMICE Sector

Putting Business and Leisure Together

In today’s competitive environment, however, Singapore cannot afford to rely on past accomplishments. It is no longer enough to have an established track record or quality MICE infrastructure.A dynamic top-tier MICE city also needs to have the “X-factor” – the vibrancy and buzz to draw business events and discerning business travellers from all over the world.

To augment Singapore’s position as a vibrant destination for BTMICE visitors, the Government will continue to develop and bring in new attractions and lifestyle offerings. Efforts are already underway to rejuvenate Orchard Road into one of the world’s greatest shopping streets. STB is also working with stakeholders to transform the historic SingaporeRiver into an iconic, 24-hour waterfront entertainment destination offering an array of world-class entertainment options such as the Ministry of Sound and Crazy Horse Paris.

The opening of a new club, St James Power Station and VivoCity, Singapore’s largest retail mall will add more buzz to the southern part of Singapore. They complement existing attractions on Sentosa and MountFaber.

Following Government’s decision to award the Marina Bay Integrated Resort to Las Vegas Sands, visitors can look forward to top-notch performances at the two 2,000-seat theatres and gourmet dining prepared by world-renowned chefs.

New Top-Class MICE Infrastructure

Marina Bay Sands will also boost Singapore’s MICE infrastructural capacity with more than 100,000 square-metres of meeting space. This includes 89,000 square-metres of exhibition and meeting room facilities as well as a 9,200 square-metre column-free grand ballroom with a holding capacity of 8,000.

With Marina Bay Sands and other future MICE developments, Singapore will have a combined meeting space of 200,000 square-metres and more than 10,000 hotel rooms located in the vicinity of MarinaBay.

With all these upcoming developments, I am optimistic that BTMICE visitors will find Singapore an ideal destination that brings business and leisure together seamlessly.

Conclusion

On this note I would like to encourage delegates attending MICE Asia 2006 to take some time off to experience Singapore’s unique blend of leisure offerings, especially the ongoing Great Singapore Sale and the Singapore Food Festival.

I wish all of you a rewarding session at MICE Asia 2006, and an enjoyable stay in Uniquely Singapore.

Thank you.