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SPEECH BY MR. S ISWARAN, MINISTER, PRIME MINISTER’S OFFICE, SECOND MINISTER, MINISTRY OF HOME AFFAIRS AND TRADE AND INDUSTRY AT Procter & Gamble’S 25TH ANNIVERSARY CELEBRATORY LUNCHEON ON MONDAY, 26 AUGUST 2013, 1300hrs, FULLERTON HOTEL

Your Excellency, David Adelman, US Ambassador to Singapore

Mr. Hatsunori Kiriyama, President for Asia, Procter & Gamble,

Distinguished Guests,

Ladies and Gentlemen,

 

Good afternoon.

1.            It is my pleasure to join you this afternoon to celebrate the 25th anniversary of Procter & Gamble Singapore. This milestone is testament to Singapore’s attractiveness as a Home in Asia, and more importantly, a long and successful Singapore-P&G partnership.  

2.            The Asian growth story is familiar to most of us, and it is commonly recognised that companies need to be in Asia to maximise the opportunities here. Over the past decade, companies across different industries have expanded their operations in Singapore to undertake strategic activities and grow their top line. This is our Home strategy, where Singapore serves as a home for companies to nurture business, innovation and talent.

3.            The Singapore-P&G partnership is testament to the success of our Home strategy. P&G Singapore grew from a 100-man regional sales office in 1987, to a global hub today with more than 1,800 employees. The Asia Pacific headquarters led by Kiriyama-san; the Baby Care and Prestige Global headquarters led by Mr. Martin Riant and Ms. Joanne Crewes as well as the Singapore Innovation Centre are just some of the critical functions in Singapore that helps P&G drive growth in Asia and across the globe. 

4.            With their diverse base of functions in Singapore, Home companies like P&G offer good jobs across a wide range of disciplines for Singaporeans, from science and technology, to business, arts and social sciences. Home companies provide Singaporeans with global or regional responsibilities, some even at a young age. We are thankful that P&G Singapore can now provide opportunities for capable Singaporeans to rise to global leadership positions, right here in the Singapore office.

5.            The Singapore-P&G partnership has also created mutually reinforcing successes. With Singapore as the global headquarters, SK-II in 2012 became the company’s first Asian brand to attain an annual global revenue of one billion US dollars. We are grateful that this has strengthened the local innovation ecosystem, and gives other companies the confidence to invest in Singapore. Similarly, P&G and A*STAR’s Master Research Collaboration Agreement in 2010 helped kick start P&G’s innovation expansion in Singapore and opened up opportunities for mutual learning between P&G and all 14 A*STAR research institutes.

6.            I am confident that Singapore and P&G will continue to extend this partnership. I am glad to hear that P&G will be one of EDB’s pioneering partners to provide overseas internship opportunities for Singaporean undergraduates over the next five years. Such internship opportunities will give young Singaporeans the overseas exposure which is important for their career development in today’s globalised economy. Likewise, it will help strengthen P&G Singapore’s talent pipeline. I am certain that this will be a start to many more partnerships to come.  

7.            Once again, my heartiest congratulations to P&G Singapore on its successful 25 years of excellence. I look forward to your continued support and commitment. Thank you.