Speech by Minister S Iswaran at the Dutch Chamber of Commerce (Dutchcham) Winsemius Awards Gala Dinner at Grand Hyatt Hotel

Mr Rob van Gijzel, Mayor of Eindhoven, Chairman of the Intelligent Community Forum Foundation and Chairman of the Brainport Foundation,  

Your Excellency, Dr Michael Pulch, Ambassador of the European Union,

Your Excellency, Mr Hans Akerboom, Deputy Ambassador of the Kingdom of the Netherlands,

Mr Ynse de Boer, President of DutchCham,

Distinguished guests,

Introduction

1.             I am very pleased to join you this evening at the DutchCham Winsemius Awards Gala Dinner. The initiative to present these awards is laudable for they aim to recognise the efforts of companies which have harnessed Singaporean and Dutch capabilities to implement innovative strategies, attain market leadership, and demonstrate sustainable behaviour. 

Singapore and the Netherlands enjoy longstanding relations

2.            Singapore and the Netherlands have a special and longstanding friendship that goes back to the 19th century, underpinned by our shared interests as small, trade-dependent and forward-looking countries.

3.            The Netherlands has contributed significantly to Singapore’s economic development.  Dr Albert Winsemius played an essential role in shaping the early economic strategies that transformed Singapore’s industrial landscape. This intellectual contribution was complemented by the investments of Dutch companies such as Royal Dutch Shell that seeded key developments in Singapore’s energy cluster. 

4.            Shell was a pioneer in setting up Singapore’s first oil storage installation in 1891 and establishing Singapore’s first oil refinery in 1961.  Shell’s efforts catalysed the development of the energy and chemicals sector in Singapore, and it continues to be an important anchor of Singapore’s energy and chemicals industry. 

5.            Today, Singapore and the Netherlands have robust economic relations. The Netherlands is Singapore’s 3rd largest European trading partner, and Singapore’s largest investor from Europe with an overall FDI stock estimated at S$67.3 billion as of end-2014. There is a strong cohort of about 1,300 Dutch companies in Singapore; many are global leaders in their industries who continue to make significant contributions to Singapore’s economy. One example is Unilever. In addition to managing some of its leading global brands such as Lux and Pond’s from Singapore, Unilever has established its global leadership development centre here to nurture future business leaders by providing exposure and valuable insight to Asian consumers and their evolving preferences.

Small and open economies must be innovative in the face of broader global forces 

6.            Tonight’s awards celebrate the accomplishments and success stories of both Dutch and Singaporean businesses across a variety of industries. Notably, the awards recognise businesses for their efforts in the areas of innovation and sustainability: two key attributes that are essential to the survival and growth of any business.  

7.            We live in an era of rapid technological advances that have a profound impact on industries and business models.  Businesses that once were thriving could be blindsided and superseded by the emergence and convergence of new technologies. We have seen how the advent of new technologies like smart phones and digital cameras have revolutionised telecommunications, photography and film, consumer behaviour and even social interactions.  Amidst such a dynamic environment, companies must innovate and stay nimble or risk serious challenges from more agile businesses.   

8.            In Singapore, we recognise the importance of innovation to the competitiveness of our economy – it enables us to compete on the basis of value and not cost; it strengthens industries and builds new sectors; and creates opportunities and jobs.  The Research Innovation Enterprise 2020 (RIE 2020) Plan announced by Prime Minister Lee in January this year underscores Singapore’s continued commitment to help our companies and those based here be thriving participants in technological changes and globalisation.  The RIE 2020 plan sets aside $19 billion for the next five years to promote research and innovation in four core technological domains, including urban solutions and sustainability.  

9.            At a broader level, these and other initiatives stem from the deeper recognition that as a small and open economy, Singapore needs to be forward-looking and constantly strive to remain relevant and competitive.  Indeed, fifty years ago, Dr Albert Winsemius was keenly aware of this immutable reality, and had the foresight and vision to advise our founding leaders to transform Singapore from an entrepot into a centre of manufacturing and industrialisation in the 1960s. 

10.          Today, after 5 decades as an independent nation, Singapore is at a similar economic crossroads.  In the face of heightened competition and cyclical factors, we have embarked on a strategic review of our economy.  The Committee on the Future Economy (CFE), is focusing on strategies that would position Singapore advantageously for economic opportunities over the next 10-15 years.  The Committee is focused on different aspects – such as enhancing enterprise capabilities through collaboration between large and small companies; fostering public/private and private/private partnerships in innovation and internationalisation; and imbuing deep skills and capabilities in our workforce - that will be essential to Singapore’s future economic development.  We will be tapping extensively on the private sector expertise and canvassing widely for ideas from a wide range of stakeholders as part of this national effort.  In particular, we welcome business associations like the Dutch Chamber of Commerce, and individual businesses like you to come forward and share your ideas, to help us chart the path ahead. 

Given Singapore’s lack of natural resources, we must harness rapid technological advances to engage in sustainable practices.

11.          Another vital consideration for a small country without natural resources is sustainability. Preserving our environment and sustaining economic growth cannot and should not be mutually exclusive; indeed both are essential for our future and that of our children.    We must ensure that our quality of life and its elements, such as a verdant liveable environment and reliable water supply, are safeguarded and enhanced.  Singapore’s founding Prime Minister Lee Kuan Yew instilled in all of us an abiding commitment to a clean and green Singapore.  

12.          Today, more businesses also acknowledge the importance of environmental sustainability to the long term viability of their business.  By adopting processes that reduce the environmental footprint of their operations, businesses not only benefit from cost savings and enhanced profitability, but also enhances their standing and viability in the eyes of their customers.  

13.          Notably, Dutch companies play an important role in helping Singapore to achieve water sustainability and mitigate the impact of climate change.  For instance, PUB is collaborating with PWN Technologies to use its ceramic membrane technology[1] at the Choa Chu Kang Waterworks to increase the plant’s operating efficiency and reliability at a lower cost.  

14.          In an urbanised environment like Singapore, we need to be ever more vigilant about the water quality in our distribution network.  Singapore is moving to implement a smart water network that not only pinpoints pipe leakages, but also senses and detects water quality changes.  In this regard, PUB has been working with Optiqua Technologies, on the development of sensors that use the principles of refraction for water quality monitoring.

15.          In line with Singapore’s Smart Mobility 2030 Vision, to enhance commuters’ travelling experience by increasing road efficiency and reducing traffic congestion, the partnership between NTU and NXP Semiconductors for the Smart Mobility Test Bed will test and develop Vehicle-to-Everything technologies for vehicles to communicate with each other and with designated roadside infrastructures. This collaboration and many others like this will enable Singapore to take a significant step closer to becoming a secure, smart, and connected city, and bring Singapore to the forefront of smart mobility innovation.

16.          Be it in energy, water, or mobility technologies, it is evident that Singapore and the Netherlands are like-minded and enjoy productive and mutually beneficial partnerships across many sectors.  And, I am glad that this strong commitment and collaboration between our two countries on innovation and sustainability is embodied not just in Government-to-Government relationships but also shared by our business communities. 

Conclusion

17.          To succeed, it is imperative that individuals, companies and countries collaborate, seek to constantly improve and learn from the best.  I commend the Dutch Chamber of Commerce for initiating these Awards which recognise the achievements of the recipients, and also serve to motivate other companies to seek out innovative solutions for today’s needs. 

18.          My hearty congratulations to this year’s Winsemius award winners, and I wish you all an enjoyable and productive evening of networking and sharing.  Thank you. 

[1]   Membrane technology is used in water treatment to remove suspended particles and dissolved salts, and is used in both potable and wastewater treatment. In addition, Singapore’s NEWater and desalination processes also make extensive use of membranes.