Mr. Robert Leong, President of Franchising and Licensing Association (Singapore),

Mr. Andrew Tjioe, Vice-Chairman of Franchising and Licensing Association (Singapore),

Mr. Dhirendra Shantilal, Chairman of FLAsia 2017 Exhibition Committee,

Mr. Albert Kong of FLAsia 2017 Exhibition Committee,

Friends from BizLink,

Distinguished Guests,

Ladies and Gentlemen,

1.         It is my pleasure to join you at the opening ceremony of Franchising and Licensing Asia 2017 (FLAsia).

2.         FLAsia has played a key role in promoting entrepreneurship, creating business opportunities and protecting intellectual property rights in Asia. This annual event has therefore attracted well-established and innovative businesses and brands, both local and foreign.

Singapore – a strong base to access regional opportunities

3.            We are encouraged to see FLAsia 2017 playing host to international brands with country pavilions from Japan, South Korea and Taiwan, including the first Russia pavilion, as well as a number of American, British, Middle Eastern and European brands. I am very heartened to hear that this year, we have 186 brands and 22 countries and regions represented. This exemplifies Singapore’s attractiveness in providing proximity and access to the region for international brands, foreign franchisors and investors with interests in Asia.  Companies can benefit from our good governance, pro-business environment, and robust intellectual property and legal infrastructure to establish a strong base from which they can access regional opportunities. Foreign franchisors can also test their concepts in Singapore to increase awareness of their unique and innovative business ideas before expanding to the rest of Asia.

Accessing overseas opportunities through Franchising and Licensing

4.            This year’s conference theme, “Your Key to the World” is a particularly apt one. Franchising and licensing are effective means for brand owners to explore new opportunities and expand their international footprint. Take the example of the Jumbo Seafood restaurant chain, a household name in Singapore known for its delicious crab dishes. Eager to take advantage of opportunities overseas, Jumbo Seafood has successfully managed to internationalise through franchising. It tapped on the Government’s assistance to develop its franchise strategy for markets like Taiwan, Thailand, China and Vietnam. The company is now thriving in China. Jumbo opened its first outlet in Vietnam earlier this year by securing a franchise agreement.

5.            The Singapore Government remains committed to helping Singapore companies build capabilities and tap on overseas opportunities. International Enterprise (IE) Singapore assists Singapore companies in navigating foreign markets, facilitates business matching, and also provides various schemes to support companies in their internationalisation efforts. For example, IE worked closely with Tai Sei Hei, a local company that produce the Lao Ban brand of soya beancurd and is a member of FLA. Tai Sei Hei tapped on IE’s Global Company Partnership Grant to develop its international branding, and successfully expanded into Vietnam through franchising. IE helped the company establish local contacts, identify suitable rental space and connected the company with legal advisors to guide its decisions.

6.            In the past 3 years, IE has supported about 200 companies in their product showcase at FLA-led trade fairs held in Southeast Asia through its International Marketing Activities Programme (iMAP). iMAP supports overseas business missions and international trade fairs organised by Trade Associations and Chambers. In addition, IE’s Local Enterprise Association Development Deal Hunter Programme provides companies with targeted business matching. This programme has supported 7 other FLA-led projects across Asia and has helped 60 companies gain access to in-market networks, build strategic partnerships and generate overseas sales.                                                                   

7.            In September, MTI announced the merger of IE and SPRING to form Enterprise Singapore. Enterprise Singapore will build on the good work of IE by deepening our overseas in-market networks and understanding of key markets. Coupled with SPRING’s expertise in helping companies to build strong capabilities, companies can benefit from more seamless and comprehensive assistance to access overseas opportunities.

Conclusion

8.         I commend FLA and BizLink for their efforts in promoting franchising and licensing as a means of internationalisation.

9.         I wish all participants here today every success in your franchising and internationalisation efforts. Thank you.