MOS Iswaran at the International Hedquarters Award Ceremony for Black & Veatch

SPEECH BY MINISTER OF STATE FOR TRADE AND INDUSTRY, MR S ISWARAN, AT THE INTERNATIONAL HEADQUARTERS (IHQ) AWARD CEREMONY FOR BLACK & VEATCH ON WEDNESDAY, 7 FEBRUARY 2007 AT 11AM AT KING’S CENTRE

Mr Amy Shanker, Executive Vice President,

Mr Ralph Eberts, MD Asia Pacific,

Ladies and Gentlemen

Introduction

1. I am pleased to be here today to celebrate two events. The first is the official opening of Black & Veatch’s Global Design Centre. The second is the award of International Headquarters, or IHQ, status to Black & Veatch.

2. Singapore’s association with Black & Veatch goes way back to the 1920s, when Black & Veatch started operating here. Your latest decision to make Singapore a strategic hub for your water business is yet another significant milestone in this longstanding relationship.

3. Black & Veatch’s new investment in Singapore is timely. It is clear that Asia as a region faces significant water-related challenges. Today, two thirds of the global population without access to clean water lives in Asia. Dr Asit Biswas, the most recent Stockholm Water Prize winner, pointed out on his visit to Singapore, the issue facing the world is not water shortage per se, but rather lack of good water management. The demand for clean water in Asia will rise in tandem with the region’s demographic and economic growth, and your decision to base your operations in Singapore will put you in good stead to cater to this rising regional need.

Singapore: An Ideal Partner in Black & Veatch’s Strategy of Globalization

4. I understand that Black & Veatch has, in recent years, been taking steps to transform itself into a truly global company, with geographically decentralized operations. A good example would be the establishment of your Global Water Design Centre in Singapore, which will provide the full range of engineering design services for water projects around the globe, including the US. In addition, Black & Veatch is now using Singapore as your Asia-Pacific headquarters for this fast-growing region.

5. Singapore is very pleased to be your strategic partner in your globalization effort. Today, Singapore is a well established business hub with over 7,000 MNCs located here. Of these, some 4,000 host a diverse range of regional and global responsibilities. With our experience in hosting global operations for multi-national companies, and our unique positioning between the East and West, Singapore is a compelling base from which you can catalyze your company’s transformation.

6. Your strategic decision to expand the role of your Singapore office and to engage the world from our shores is a strong endorsement of Singapore’s capacity to host your global operations. The IHQ Award that you will receive today is a substantive symbol of our commitment to the strategic partnership between Black & Veatch and Singapore.

Manpower Development

7. With your expansion in Singapore, clearly you will need to hire and train many more professionals so that your Singapore office can attain the highest levels of competence in water technologies. The Singapore Government fully appreciates that talent is a critical element that determines the success or failure of any business endeavor. This is an area where you can be assured of our continued and resolute support.

8. In 2005, the Government made a strategic decision to develop the Environment and Water industry, and committed a substantial $330 mil over the next 5 years to develop new R&D and manpower programmes for this sector. Today, I am pleased to announce that the Environment and Water Industry Development Council, or EWI, will set aside $60 mil from this $330 mil to fund world-class water research centers. Anchored by leading institutions in the field of water technology, these centers will conduct postgraduate training of Masters and PhDs. This will also ensure that water companies operating here have a steady supply of high quality professional talent.

9. Besides this $60 million programme, EWI also plans to provide postgraduate scholarships so as to train the next-generation of research and professional leaders in the water industry. To meet the needs of the industry, we are targeting to augment our postgraduate manpower by an incremental 150 Masters and PhDs annually by 2010.

Conclusion

10. Let me conclude by congratulating Black & Veatch on the opening of the Global Water Design Centre and for receiving the IHQ status. Our water industry will definitely benefit from and grow with your significant presence, knowledge and expertise. We look forward to Black & Veatch’s continued growth and success in Singapore and in the region in the coming years.