Singapore’s Hainan Business Chamber aims to grow network, help members tap Hainan Free Trade Port

[SINGAPORE] The Hainan Business Chamber (HBC) aims to grow its network in Singapore to foster collaborations, while tapping its links with China’s Hainan province to help members benefit from the island’s free trade port status.

“We want to leverage the strength and areas of expertise of our individual members, so expanding our membership is important,” HBC secretary-general Foo Chek Wee told The Business Times.

In contrast to larger business chambers, which may focus on institutional partnerships, most deals facilitated through HBC are thanks to the “merit of individual members”, he said.

For instance, HBC vice-president James Foo recently assisted a Hainan-based entrepreneur with setting up an electronics manufacturing facility in Johor Bahru in April.

This makes it pivotal to increase the number of members, Foo Chek Wee added, though he has no specific target.

Established in 2010, the HBC has about 300 members, with Hainanese comprising about 6 per cent of Singapore’s Chinese population.

The chamber has managed to draw younger members in recent years. About 70 of its 300 members are in their thirties and forties, up from just 30 in 2021. Most members are aged between 50 and 70.

Potential members have to go through an interview, Foo Chek Wee noted. “Our key performance indicator is not by the numbers, but by the quality of the membership that we bring in.”

Maintaining ties abroad

Foo Chek Wee was speaking to BT on the sidelines of the inaugural HBC World Business Leaders Forum on Tuesday (Nov 18), held to mark the chamber’s 15th anniversary.

It was attended by over 200 Hainanese business leaders from across the region, in sectors such as electronics, construction, food manufacturing and venture investments.

They comprised 130 from China; 40 from South-east Asia, Japan, Europe and Canada; and 45 from Singapore.

Many attendees had flown in from Malaysia after attending the 18th World Hainanese Congress in Penang, held from Nov 14 to 16.

The forum included talks by industry leaders and fireside chats on topics such as artificial intelligence and emerging technologies, entrepreneurship and cross-border partnerships.

HBC helps connect Singapore businesses with the Hainanese government and other Hainanese business chambers across China and South-east Asia, and holds business missions to both regions.

As Hainan province gains prominence, HBC’s relationships have proven especially valuable, said Goh Khong Shung, the chamber’s group chairman of special projects.

The Hainan Free Trade Port (FTP) will launch a zero-tariff system for imports on Dec 18.

With the FTP also offering tax incentives, Singapore companies can consider expanding into Hainan and using it as a gateway to mainland China and beyond, said Goh.

By leveraging its close ties with Hainanese trade agencies, HBC keeps members updated on changes to the FTP’s legal and regulatory framework.

In 2023, HBC’s management committee hosted a Hainan FTP delegation in Singapore, who shared insights on developments in the zone.

“We have always been engaging the trade associations in Hainan… so now, our language becomes our leverage; our years of building relationships becomes our advantage,” said Goh.

Building ties at home

To attract younger members and foster a spirit of entrepreneurship, the chamber set up an entrepreneurship committee in 2021.

“Most associations and chambers have a continuity issue. The entrepreneurship committee helps to refresh HBC’s image to show that we don’t just comprise legacy businesses,” said Goh, who heads the committee.

Since 2022, HBC has held a series of ad-hoc “Hai-Tech talks” on emerging topics such as sustainability and green finance.

Goh is considering an acceleration programme for members intending to launch startups, though the idea is still at an “exploratory stage”.

The chamber also holds social events, from an annual golf challenge and gala dinner to monthly tea gatherings and festive celebrations.

“Successful business collaborations always begin at the grassroots level,” said Goh.

“We have to first connect with one another, sit and drink, and spend time together in order to build trust and confidence.”