OPENING REMARKS BY MR S ISWARAN, SENIOR MINISTER OF STATE FOR TRADE & INDUSTRY AND EDUCATION, AT THE OPENING OF THE FIRST ASIA SUPERYACHT CONFERENCE ON TUESDAY, 13 OCTOBER 2009, 0930 HRS, AT THE ONE˚ 15 MARINA CLUB

Distinguished Guests,

Ladies and Gentlemen,

Good morning

Introduction

It is a pleasure to be here with you today for the opening of the inaugural Asia Superyacht Conference. I would like to specially welcome our visitors from overseas, in particular those who are in Singapore for the first time.

Singapore’s Leisure Marine Lifestyle

The commercial maritime industry has always played a major role in the economic development of Singapore. The waters of Singapore are some of the busiest in the world, supporting international trade and numerous other port and shipping activities.

In more recent times, Singapore has also started to grow its leisure marine industry. We have played host to a number of world-class lifestyle events such as the Volvo Ocean Race and the Around-the-World Clipper Race. Just last month, we hosted our second Formula 1 Singapore Grand Prix. The last few years have also seen the development of waterfront residential developments in Singapore. In fact, the venue of this conference affords us an excellent vantage point from which to view some of these developments. We can see Sentosa Cove which will have an adjoining boating marina with berths for mega yachts and KeppelLand’s development around KeppelBay. With such a myriad of world-class events and attractions, Singapore is well placed to be the next distinctive superyacht destination.

In organising this conference, Superyacht Singapore has also helped to profile Singapore and the region as an attractive destination for superyachts.

Singapore as a One-Stop Maritime Centre

Singapore also provides comprehensive maritime services and we are on our way to becoming a one-stop centre in the region. Our shipyards have leading edge facilities and an infrastructure and are thus well equipped to service superyachts. Superyachts in the region will be able to enjoy a wide range of services ranging from refit or repair to classification here. Our existing capabilities, therefore, complement the growth of a leisure marine cluster in Singapore.

Singapore and the Region.

Our strategic geographical location also gives added credence to our ambitions to become a superyacht destination. Located at the confluence of major maritime routes, we have deep waters, safe harbours, and good weather all year round. The geography of Southeast Asia also allows this region to serve as a playground for cruise yachts. Southeast Asia enjoys warm waters year-round and the marine biodiversity in the region is unsurpassed. On land, our diverse Asian cultures and historic sites make for interesting shore-side explorations. I was told the name ASEANAREAN was coined some years back as a short hand description to thematically brand this region from a nautical perspective. This is in the same vein that the Mediterranean and Caribbean describes the more established cruising destinations for large yachts. I look forward to Southeast Asia becoming a cruising ground comparable to the established areas of the Mediterranean and the Caribbean.

Indeed, that day may not be so far off. There is already a marina network in the region, and many marinas have the berthing capacity to welcome superyachts. What we need is the buy-in and coordinated support from industry players to build up and sustain the collective leisure marine offerings in the region so as to increase superyacht traffic through Singapore and the region. I am, therefore, pleased to see that Superyacht Singapore has already engaged regional players for the development of the region’s superyacht industry.

Conclusion

Events like this are important for they will help our efforts and those of the region to develop an attractive leisure marine cluster. I wish you all a successful conference.

Thank you.