29 April 2015
Goodrich Global was recently mentioned in the speech by Mr, Lim Hng Kiang, Minister for Trade and Industry, at the 30th Singapore Business Awards Ceremony on the Monday, 27 April at the Resorts World Convention Centre.
The Singapore Business Awards recognise exceptional individuals and enterprises that have displayed visionary drive and enterprising spirit, and chalked up outstanding performance in growing their businesses.
Mr Lim’s speech focused on the Government’s commitments in supporting our enterprises in developing the capabilities to tap growth opportunities, thrive and become globally competitive. These areas will encourage innovation and raise productivity in existing sectors, invest in future growth sectors, help our companies tap international markets, and invest in our workforce to ensure that they have the skills to benefit from the new opportunities.
Charting Future Growth
For the next phase of Singapore’s growth it must strengthen Singapore as a sustainable innovation-driven economy. We must continue to develop our existing sectors and uplift their productivity, so as to have the capabilities to compete and thrive in the global economy, and that Singaporeans are equipped with the skills to contribute and benefit from the good jobs which will be created.
Helping our companies tap innovation and restructure
Budget 2015 emphasised innovation as a key strategy to help our enterprises achieve productivity-driven growth, strengthen their value proposition and to differentiate themselves from the competition. The measures in Budget 2015 build on the groundwork which has been laid by agencies such as A*STAR and SPRING, in helping our enterprises leverage technology and innovation to enhance competitiveness and drive top-line growth.
To help our companies tap innovation, a range of government assistance schemes are available. For companies just starting on innovation, SPRING offers the Innovation and Capability Voucher (ICV), which supports SMEs in the development and implementation of simple solutions to improve business efficiency and productivity.
Investing in Our People
As we create better economic opportunities and jobs, we must ensure that Singaporeans are well-equipped to take on the new roles that will be available. To nurture the relevant skill-sets and mind-sets in our workforce, the SkillsFuture initiative was announced at Budget 2015. Through SkillsFuture, we will put in place the structures and processes to enable Singaporeans to develop and learn the relevant skillsets as they progress through their lives – from formal schooling, throughout their careers and until retirement.
Business owners and industry leaders here are strongly encouraged to support the SkillsFuture initiative and to continually invest in your employees. To date, Goodrich Global is one of the of employers have already come on board. Goodrich Global, which was recently named the Best SME Employer in Singapore 2015 by HR consulting firm Aon Hewitt. The company’s commitment to good HR practices has allowed it to keep its employees engaged, support training programmes suggested by employees, and keep employee retention rates high. Goodrich has benefited from SPRING’s assistance schemes to optimise their business operations and develop HR capabilities so as to enable Singaporeans in our SMEs to benefit from good working environments which support higher employee productivity.
Enabling Trade and Internationalisation
Given Singapore’s small domestic market, internationalisation will continue to be a key economic strategy. In the immediate region, new opportunities for our businesses arising from the realisation of the ASEAN Economic Community (AEC) as a single market and production base. Singapore businesses have already benefitted from the various AEC initiatives. Localcompanies can export most products to other ASEAN markets duty-free, and enjoy greater ease of trade through measures such as mutual recognition agreements. In the area of services and investment, there are now more opportunities for Singapore companies to participate in sectors which were previously closed off to foreign investors.
SOURCE: Mr Lim Hng Kiang at Singapore Business Awards Ceremony