Speech by Second Minister S Iswaran at the Opening Ceremony of ESSEC Business School’s Asia-Pacific Campus (Nepal Hill)

SPEECH BY MR S ISWARAN, MINISTER IN PRIME MINISTER’S OFFICE AND SECOND MINISTER FOR HOME AFFAIRS AND TRADE & INDUSTRY, AT THE OPENING CEREMONY OF ESSEC BUSINESS SCHOOL’S ASIA-PACIFIC CAMPUS, 4 MAY 2015, 4:00PM, ESSEC BUSINESS SCHOOL ASIA-PACIFIC CAMPUS (NEPAL HILL)

Mr Benjamin Dubertret, French Ambassador to Singapore

Dean Blanquer,

Dean Martine,

Distinguished guests,

Ladies and Gentlemen,

Introduction

I am very happy to join you this afternoon at the official opening of ESSEC Business School’s Asia-Pacific campus here at Nepal Hill. Let me begin by congratulating ESSEC’s Board of Directors, Deans, faculty and staff for bringing this project to fruition.

ESSEC first established its Asian Centre in the National Library Board building in 2005.  In the past decade, ESSEC and Singapore have built up a strong partnership, which has blossomed and driven the creation of this new 6,500 square meter campus at Nepal Hill.  

Need for Asia-ready talent to serve this region’s growth

ESSEC’s decision to set up an Asia-Pacific campus reflects the growing need for Asia-ready talent.  As multinational companies expand in Asia to serve the growing markets in this region, they are increasingly recognising that talent with in-depth, contextual knowledge of the region is indispensable for business success.

This is where global business schools like ESSEC play a critical role.  Executive education prepares future leaders to add value to their organisation, not just by imparting business knowledge to help navigate market terrains, but also to raise their cultural awareness of the different markets within which their business operates.  For instance, ESSEC’s new APAC Executive MBA programme is designed to address the varied issues faced by business leaders across Asia.  Courses that deliver such nuanced business and cultural know-how will equip participants to navigate the unique challenges of the diverse Asian market, and reach out more effectively to the Asian consumer.

Singapore well-positioned to be Asia’s Home for Talent

At the heart of a fast-growing Asia with increasing demand for talent, Singapore is well-positioned to be a place where companies can develop and harness Asia-ready talent.  Indeed, our vision is for Singapore to become a Home for Talent for companies around the world.  To this end, we will continue to invest in building a robust talent ecosystem comprising leading business schools like ESSEC, human capital consultancies, corporate universities, and think-tanks.  

Nepal Hill itself epitomises the talent ecosystem we are building in Singapore, where we seek to forge strong linkages between research, practice and teaching.  Nepal Hill is situated within the One-North business district which co-locates not just global academic institutions, but also industry-relevant research and teaching.  Exemplifying this is Nepal Hill’s first tenant, multinational consumer goods conglomerate Unilever.  Two years ago, Unilever set up its first corporate university outside of the United Kingdom in Singapore, to deliver global leadership development programmes.  I am heartened that ESSEC has chosen to site its Asia-Pacific Campus at Nepal Hill.  This will further enhance the rich and diverse landscape of executive education providers in the area.

ESSEC’s expansion well-aligned with Singapore’s focus on skills development

ESSEC’s expansion is also well-aligned with Singapore’s focus on nurturing and developing deep skill sets and work-related competencies in Singaporeans.  For instance, ESSEC has introduced the Advanced Masters programme in the Management of Health Industries, and other specialised programmes in business analytics and consulting.  The demand for expertise in these fields and capabilities are growing, within Singapore and the rest of Asia.

I am also pleased that ESSEC offers a wide range of scholarships for your students at both the graduate and undergraduate level.  This includes the Pioneering Spirit Scholarship, which marks the 50th anniversary of Singapore’s independence.  Further, to invest in developing Singaporeans, an exclusive Singaporean scholarship is on offer, targeting outstanding Singaporean applicants to ESSEC’s Bachelors of Business Administration Programme as well.

Conclusion

In closing, I would like to once again congratulate the ESSEC team on the opening of your new campus in Singapore.  Today’s event is a key milestone in our decade-long partnership.  I wish ESSEC continued success and look forward to closer and deeper collaboration in the years to come.  Thank you.