SAN FRANCISCO (CNA) – Enterprise Singapore (EnterpriseSG) on Tuesday inaugurated its San Francisco Overseas Centre, aiming to streamline the entry of Singaporean companies into the United States while fostering increased trade and investment between the two nations.
Marking its third establishment in the US, following New York and Los Angeles, this move highlights EnterpriseSG’s commitment to expanding its footprint across key American hubs.
Prime Minister Lee Hsien Loong, who officiated the opening, said that despite a more complex global environment, he is hopeful that the US will maintain and even strengthen its relationship with Asia and the rest of the world.
“For our American friends seeking opportunities in Singapore, or in the vibrant and growing Asia-Pacific region, our message to you is this: Singapore is wide open for business,” Mr Lee said.
“Enterprise Singapore, and our other agencies like the Economic Development Board, will be more than happy to work with you.”
EnterpriseSG and its overseas offices help Singapore companies establish a foothold in the US, and the launch of the San Francisco centre marks a “step up” in Singapore’s engagement on the US West Coast, said Mr Lee.
San Francisco has been an important region for promising Singaporean start-ups to meet strategic partners, and gain backing that can elevate them to the global stage, he said.
“Many Singaporean companies are partnering their American counterparts across sectors like biomedical, food manufacturing, transportation, and much more,” he added.
“Here in the Bay Area, we have been nurturing such relationships for many years.”
The opening was attended by Mr Lee Chuan Teck, CEO of EnterpriseSG and Ms Eleni Kounalakis, Lieutenant Governor of California. Also present were about 50 business leaders from Singapore and the US, senior US government officials, representatives from academic and research institutions as well as people from the start-up community.
Said Mr Lee Chuan Teck: “The US and Singapore have always enjoyed close economic ties. Our new office in San Francisco will strengthen these ties further and help Singapore businesses tap the rich innovation ecosystem in the Bay Area.”
He told CNA that many Singapore firms are already in the Bay Area, and many more are expressing interest in exploring opportunities there. There are opportunities for Singapore companies in the biomed space, while the California state government has introduced many initiatives to support the transition to clean energy, advanced manufacturing and digital technologies, he said.
“There’s a huge window of opportunities for us, and that’s why we are receiving a lot of interest from many Singapore firms looking to come here,” he said.
EnterpriseSG is also “on the lookout” to open more offices in the US, he added.
