Asean increasingly important to US firms: AmCham survey

Singapore

NOW, more than ever before, economic ties with the United States rely not just on what its government does, but on "the US private sector as an indispensable partner", Minister for Foreign Affairs Vivian Balakrishnan said on Wednesday, at an event held by the American Chamber of Commerce in Singapore (AmCham).

He cheered the US' continued commitment to South-east Asia and Singapore, noted moves such as the recent US-Asean Smart Cities Partnership, and highlighted Asean's potential as a youthful region whose "demographic dividend has not yet been harvested". The stock of US foreign direct investment in Singapore alone is about US$242 billion, he noted.