Speech by Minister Grace Fu at the 8th DutchCham Winsemius Awards

1. A very good evening to all of you. It is a pleasure to join you at the 8th DutchCham Winsemius Awards. This award honours the outstanding achievements of Dutch and Singaporean companies in business, innovation, sustainability and social impact – values that reflect the enduring legacy of Dr Albert Winsemius.

2. Many here would know Dr Winsemius as the Dutch economist who helped guide Singapore’s early economic development. He saw possibilities where others saw limitations. Today, his legacy of vision, partnership and enterprise continues to inspire us. 

3. The first Winsemius Awards event in 2015 was initiated to celebrate 50 years of Singapore’s independence. In the year of SG60, I am delighted to be here this evening to celebrate a decade of enduring bonds between the Singapore and Dutch business communities. My warmest congratulations to all the finalists and winners tonight. 

Celebrating 60 years of strong partnership

4. This evening holds special significance, as we mark 60 years of diplomatic ties between Singapore and the Netherlands, and 35 years of DutchCham’s presence in Singapore. 

5. Almost 2,000 Dutch companies have set up businesses here, contributing to our growth across healthcare, semiconductors, maritime, engineering, food, and more. Together, we have built globally connected ports, developed smart urban ecosystems, and advanced pioneering solutions in renewable energy and the circular economy. 

6. The Netherlands is now Singapore’s second largest EU investor and third largest goods trading partner. In turn, amongst EU Member States, the Netherlands is the second largest investment destination for Singapore companies.

7. Our partnership thrives because we share common values of openness, innovation, and a commitment to sustainable growth. Just within this year, we renewed the Singapore-Rotterdam Cooperation Agreement on maritime sustainability and also deepened cooperation in the semiconductor and other high-tech sectors. These are testaments of our shared ambitions to strengthen our pathfinding roles as respective gateways to Europe and ASEAN. 

Looking ahead to the next 60 years

8. As we celebrate these milestones, it’s timely to look ahead and reflect on what the next 60 years of Singapore-Netherlands collaboration could bring.

9. True to Dr Winsemius’ spirit of turning constraints into opportunities, Singapore and the Netherlands have consistently sought to punch above our weight on the global stage. As we stand at the crossroads of a new global era – defined by digital transformation, decarbonisation, and geopolitical uncertainty, our cooperation as like-minded partners have never been more relevant. 

10. Looking ahead, I see potential for deeper partnership in four critical areas: 

    1.  First, in the green and digital transitions. From scaling up renewable energy to harnessing AI for smarter cities, Dutch innovations in areas like offshore wind and quantum computing pair naturally with Singapore’s efforts to green our energy sources and build digital economies.

    2.  Second, climate adaptation and water management remain priority issues where the Netherlands leads globally. Singapore values this partnership as we strengthen our own urban resilience and coastal protection strategies.

    3.  Third, circular economy. Both countries are advancing sustainable urban living — from boosting food resilience to turning waste into resources. There is rich potential for our businesses, researchers and policymakers to co-develop solutions that make sustainability a reality today.

    4.  Lastly, as global supply chains face growing pressures from climate risks and geopolitics, Singapore and the Netherlands — as trusted, connected trading hubs — can collaborate to reinforce supply chain resilience and build next-generation digital trade networks.

Celebrating the power of communities

11. In a rapidly changing world, the importance of building strong, connected communities remains a constant. It is these communities, across cities, industries and borders, that create lasting impact. Both Singapore and the Netherlands understand that it is not just about economic growth, but about building societies where people feel included, valued, and empowered.

12. That is why I am especially honoured to present the Winsemius Community Impact Award tonight. This Award recognises companies that go beyond business to uplift communities, lead with integrity, and create meaningful contributions to our society. It reminds us that true leadership lies not just in profit, but in purpose.

Conclusion

13. This is why partners like DutchCham matter. Beyond a business network, you provide a bridge to connect ideas, people and possibilities. It reminds us that the strength of our economic relationship lies not only in business transactions, but the depth of trust and mutual understanding that underpin them. 

14. This is very much like Dr Winsemius’ relationship with the early generation of Singaporean leaders, which lasted more than two decades. Even after his formal appointment had ended, Dr Winsemius continued to give counsel and keep informed about the Government’s activities. 

15. In many ways, it was this man who had the vision to spot a place like Singapore, which, at that time, was a developing and poor country, with very little resources and an imbalanced market, and one that not many people were paying attention to. 

    1. And yet, Dr Winsemius saw something in us, something that was different and valuable. He brought in companies like Philips, which started its lightbulb business in Jurong. Along with the investments in transistor radios, toothbrushes, and textiles, this era marked the beginning of Singapore’s industrialisation.

    2. Dr Winsemius’ leadership and vision, along with that of our early leaders, developed Singapore into what it is today. Most importantly, they imparted important values which the Government still embraces today, such as hard work, openness, incorruptibility, doing business the right way, and being hard-headed.

    3. As we are open to investments and competition, Singapore must always strive to be better. Collaboration and partnership will continue to be a very important part of Singapore – a regional hub for business, finance, and innovation.

16. So, thank you all for your kindness that you have shown to Singapore. Thank you for your investments in Singapore, and thank you for levelling up the capability of our local workforce and also uplifting the local community.