The Straits Times, Feb 2, 1979
By Lee Kim Chew
THE Economic Development Board will lead a team of entrepreneurs to the United States later this month to seek new technology and joint venture partners in a bold drive to accelerate the pace of Singapore's industrialisation in the '80s.
Headed by EDB's alternate chairman, Mr Chan Chin Bock, the mission, comprising top executives from seven companies, will look for new business and investment opportunities through the purchase of appropriate technology, joint ventures and sub-contracting arrangements.
In an interview yesterday, Mr Chan, who has extensive business contacts in the US, said: "This is the first time an EDB mission is bringing along Singapore industrialists and entrepreneurs abroad to seek new business and investment opportunities.
"Infinite opportunities exist for the Singapore industrialist and businessman who can organise himself for production to supply international companies.
"Opportunities are particularly available in the US as chief executives of American companies cast around for alternative sources of supply to Japan."
He said many US companies have joint ventures, sub-contracting arrangements with firms in Japan, Britain and West Germany.
These American companies are now ready to talk to capable industrialists and entrepreneurs in developing countries like Singapore who have the capacity to undertake sub-contracting jobs at competitive prices.
Copyright © 1998 Singapore Press Holdings. All Rights Reserved.
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