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<TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published July 15, 2010
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>PM Lee: S'pore will look after interests of oil firms
Assurance seeks not just to encourage them to stay here but to do more
By CHUANG PECK MING
IN HOUSTON, TEXAS, USA
WHILE Singapore has made international commitments to reduce the emission of carbon dioxide, it will still look after the long-term interests of oil and chemical companies that have - or will - put their money in the country.
'That's the specific message I have for them,' Prime Minister Lee Hsien Loong said yesterday when he briefed Singapore reporters after wrapping up a two-day visit to Houston, home of many oil and chemical giants.
The reassurance, which Mr Lee personally gave to many of the chief executives of the oil and chemical companies, was made not just to encourage the companies to continue to stay in Singapore but also to do more there.
Mr Lee said it was useful to reiterate the point even to ExxonMobil, now building one of its biggest projects in Singapore.
He said ExxonMobil had gathered many of the industry players for him to meet during his visit. They included those in the oil supporting business whom Mr Lee said he found useful to talk to.
If Singapore wants to build a strong oil and chemical cluster, it will need also to attract the supporting firms to set up shop there, he said.
Mr Lee said his latest visit to the United States - he also stopped over in Idaho to meet up with chief executives of Fortune 500 companies - has been timely. The US economy is on the mend and it's also a time of change for the country, he noted. 'So it's been useful to get a sense of the mood of the business people (there),' he said.
While US CEOs are confident about their own businesses, Mr Lee said they are more cautious when it comes to the broader economy. Yet the CEOs don't see another dip in economic activity, even though growth is likely to be lower than expected.
'It's not a bad situation for us in Asia,' Mr Lee said. 'It means we have the basis for growth and to continue to transform and prosper in Asia.'
Senior Minister of State for Trade and Industry S Is- waran, who is accompanying Mr Lee, said the CEOs they met are excited about the opportunities in Asia.
Those that already have a presence in Singapore can see that it is in an advantageous position to tap the opportunities.
Mr Iswaran said the CEOs they met like Singapore's infrastructure, legal system, intellectual protection and the quality of its people - but they like to have more of such people to work for them.
Going forward, Mr Iswaran said, Singapore must ensure that it has a ready pool of talent to attract and keep businesses anchored there.
</TD></TR></TBODY></TABLE>
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>PM Lee: S'pore will look after interests of oil firms
Assurance seeks not just to encourage them to stay here but to do more
By CHUANG PECK MING
IN HOUSTON, TEXAS, USA
WHILE Singapore has made international commitments to reduce the emission of carbon dioxide, it will still look after the long-term interests of oil and chemical companies that have - or will - put their money in the country.
'That's the specific message I have for them,' Prime Minister Lee Hsien Loong said yesterday when he briefed Singapore reporters after wrapping up a two-day visit to Houston, home of many oil and chemical giants.
The reassurance, which Mr Lee personally gave to many of the chief executives of the oil and chemical companies, was made not just to encourage the companies to continue to stay in Singapore but also to do more there.
Mr Lee said it was useful to reiterate the point even to ExxonMobil, now building one of its biggest projects in Singapore.
He said ExxonMobil had gathered many of the industry players for him to meet during his visit. They included those in the oil supporting business whom Mr Lee said he found useful to talk to.
If Singapore wants to build a strong oil and chemical cluster, it will need also to attract the supporting firms to set up shop there, he said.
Mr Lee said his latest visit to the United States - he also stopped over in Idaho to meet up with chief executives of Fortune 500 companies - has been timely. The US economy is on the mend and it's also a time of change for the country, he noted. 'So it's been useful to get a sense of the mood of the business people (there),' he said.
While US CEOs are confident about their own businesses, Mr Lee said they are more cautious when it comes to the broader economy. Yet the CEOs don't see another dip in economic activity, even though growth is likely to be lower than expected.
'It's not a bad situation for us in Asia,' Mr Lee said. 'It means we have the basis for growth and to continue to transform and prosper in Asia.'
Senior Minister of State for Trade and Industry S Is- waran, who is accompanying Mr Lee, said the CEOs they met are excited about the opportunities in Asia.
Those that already have a presence in Singapore can see that it is in an advantageous position to tap the opportunities.
Mr Iswaran said the CEOs they met like Singapore's infrastructure, legal system, intellectual protection and the quality of its people - but they like to have more of such people to work for them.
Going forward, Mr Iswaran said, Singapore must ensure that it has a ready pool of talent to attract and keep businesses anchored there.
</TD></TR></TBODY></TABLE>
