Speech by Minister Lim Hng Kiang at the ICC Academy MOA Signing Ceremony at Shangri-La Hotel, Casuarina Ballroom

Mr Terry McGraw, ICC Chairman,

Mr John Danilovich, ICC Secretary General,

Mr Philip Kucharski, ICC Chief Operating Officer,

Distinguished guests,

Ladies and Gentlemen,

Good afternoon. It gives me great pleasure to witness the signing of this agreement between IE Singapore and the International Chamber of Commerce (ICC) for the establishment of the global headquarters of the ICC Academy in Singapore. This marks a significant milestone in the collaboration between Singapore and the ICC.

Singapore as a Global Trading Hub

Over the years, Singapore has developed a vibrant trade ecosystem, which is underpinned by our strategic location in Asia and growing trade flows in the region. Trade continues to be an important pillar of our economic growth and is about 3 times our GDP, placing us among the top 15 trading nations in the world.

IE Singapore, the agency responsible for growing Singapore’s external economy, works actively to promote Singapore as a global trading hub. Supported by IE’s efforts, many international companies have chosen to manage their global and regional operations out of Singapore today. They benefit from Singapore’s well-established business networks and wide availability of trade support services in finance, insurance, risk management and arbitration.

Many of these companies in Singapore are also constituents of the ICC. They have benefitted from ICC’s international business links, trade advocacy and development of best-practices and standards.

ICC Academy in Singapore

The establishment of the ICC Academy in Singapore is a natural collaboration that will help both ICC and IE Singapore advance our shared objective to promote international trade and commerce in the region and beyond. We are honored that the ICC has chosen to partner with IE Singapore to establish its first academy for training and accreditation in Singapore. The Academy will institutionalize the ICC’s education and training programmes and is expected to provide comprehensive, cost-effective and world-class training for more than 5,000 professionals every year. 

The first set of training programmes under the ICC Academy will center on subjects in the area of trade and trade finance. The provision of credible, industry-specific courses for candidates will support the manpower needs of the global trading community in Singapore and strengthen Singapore’s role as a global trading hub and financial centre. The ICC Academy will also tap on the expertise of business leaders in Singapore to identify new opportunities for growth for both Singapore companies and constituents of the ICC.

As Singapore continues to grow and prepare for the new challenges of the future, we remain committed to the development of deep, industry-relevant skillsets for our workforce, as part of the national SkillsFuture initiative. The programmes offered by the ICC will strengthen the effectiveness of our workforce and provide more opportunities for Singaporeans to undergo training to take on better jobs.

Conclusion

In closing, I would like to congratulate IE Singapore and the ICC on the establishment of the ICC Academy. I am confident that this partnership will pave the way for further collaboration between Singapore and the ICC in the near future.

On this note, I would like to wish everyone a pleasant afternoon.

To members of the ICC Board and various leaders of the National Committees, I wish you a fruitful and enjoyable stay in Singapore. Thank you.