EDB appoints four economic envoys from Germany

Berlin

THE Economic Development Board (EDB) has appointed four leading German executives to serve as Singapore's new economic ambassadors over the next three years.

They are all from renowned "Mittelstand" companies, the small and medium-sized enterprises (SMEs) that account for more than half the gross domestic product in Germany.

The four are:

EDB chairman Beh Swan Gin at the award presentation ceremony in Berlin on Wednesday: "EDB is grateful that over the years, we have managed to gain the trust of many Mittelstand leaders who have succeeded in Asia through Singapore.

"These leaders have given us unanimous feedback that Singapore can offer value to many other hidden Mittelstand champions, who do not yet know Singapore well."

The event at the Intercontinental Hotel was attended by Prime Minister Lee Hsien Loong - who presented the quartet with their certificates - on the final day of his four-day official visit to Germany.

What links this pioneer batch of ambassadors together is the fact that they all have direct experience investing in Asia, or have worked in the region for a significant amount of time, said Dr Beh.

"They are also considered key opinion leaders in their respective fields, and are very well-positioned to provide practical advice to Mittelstand companies on undertaking research and development, manufacturing, operations and general management in Asia," he added.

The launch of this ambassador programme takes place at a time when Singapore and Germany are celebrating 50 years of diplomatic and trade relations.

In 2013, Germany's foreign direct investments in Singapore of 1 billion euros (S$1.54 billion) was Germany's largest investment in South-east Asia.

Singapore now hosts the most number of German companies in Asean, with 1,400 of them - both multinationals and Mittelstand - already present in the Republic in sectors such as chemicals, electronics, engineering and logistics. Dr Kegel said Singapore remains a suitable location for Mittelstand companies to operate in, given the country's pro-business environment.

"In Singapore, we not only have access to talented professionals from renowned universities, but the general conditions also make it possible for us to profit from the potential of the region. I want to help other Mittelstand companies seize these opportunities as well," he said.

Mr Riedel, who has been with Rohde & Schwarz for nearly 25 years, has this message for any Mittelstand company that wants to establish itself in its sector in the long term: do not avoid Asia entirely.

"When choosing a location, the availability of qualified workers is equally as important as political stability. In Singapore, both of these criteria are met, making the city-state the ideal hub in the region," he said.