Norwegian Business Summit kicks off in Singapore

The Norway-Asia Business Summit in Singapore kicked off on Thursday, 29 September 2011 with a panel discussion themed how the Nordic nation’s business community can stay relevant and grow further in Asia, the world’s fastest growing economic region.

With top level speakers and panelist at the summit which put together a strong agenda for the day, more than 200 senior business leaders from Norwegian companies operating in Asia were present at the conference today, 30 September 2011.

This is the second time the Norway – Asia Business Summit, has been held, the first being in Shanghai last year. The outcome this year is said to be significantly bigger than its inaugural show last year. This is first time the Norway-Asia Business Summit is hosted here in Singapore.

The conference is organised by the Norwegian Business Association (Singapore).

Norway is consistently in the top five European countries investing in Singapore in FDI terms and the summit examines the growing trading relationship with Singapore and other economies in Asia. In total Norwegian business leaders from nine Asian countries will be present at the two day event.

Kicking off the conference this morning, Singapore Economic Development Board Deputy Managing Director Mr Tan Choon Shian gave the opening address.

Framing Singapore’s economy against growth in Asia, he said: “According to a study by BCG, Asia will account for 60% of the world’s trade by 2015.”

Summing up on the strengthening partnership between Singapore and Norway, Mr Tan Choon Shian added that as Singapore is being developed to be a relevant Home for Business, Innovation and Talent, Norwegian companies are very much welcomed to also consider Singapore as their Home in Asia.

“There are over 340 Norwegian companies with a presence in Singapore, and we look forward to growing our partnership to help these companies access Asia more effectively,” he said.

Norway is already the third largest European investor in Singapore, and the fifth largest globally, with a total of S$22.7 billion of Foreign Direct Investments (FDI) from Norway into Singapore.

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