This is a vote of confidence in food and beverage (F&B) markets within the Southeast Asia region.
(PRWEB) October 07, 2011
Coca-Cola Singapore opened its S$72 million plant in Tuas yesterday to manufacture and supply concentrate to several markets in the Asia-Pacific region. This is a vote of confidence in food and beverage (F&B) markets within the Southeast Asia region, says local company registration specialist, Rikvin Singapore.
According to local publication TODAY, the plant is expected to create up to 120 jobs. Its inception also marks Coca-Cola's 75-year presence in Singapore, where it is currently employing about 800 staff in its bottling plant and regional marketing office.
Singaporean government website EnterpriseOne reports that the Food and Beverage sector contributed S$1.91 billion or 0.74% to Singapore’s Gross Domestic Product (GDP) in 2008. It appears to be a lucrative time to start an F&B business in food-loving Singapore.
The Singapore Department of Statistics also reported an increase in food and beverage sales of 1.6% in July 2011 over the previous month, and an increase of 10% in July 2011 compared to July 2010.
There is also strong financial support in the form of incentives and grants by the government, such as the F&B Capability Development Programme (CDP), which saw an injection of S$12 million in funds for F&B businesses to improve their capabilities.
However, setting up a food and beverage business in Singapore is tightly regulated due to Singapore’s extremely high hygiene standards, says Rikvin.
Interested parties will need to apply for a licence to operate. Only Singapore citizens and Permanent Residents above 21 years of age, or a registered Private Limited company can apply for the licence. The company must be registered with the Accounting and Corporate Regulatory Authority of Singapore.
Before a company registers, it will need to first secure a site for its operations. The premises have to be zoned for commercial use, and the layout has to comply with the Code of Practice on Environmental Health. They will also need to obtain a permit from the Public Utilities Board to install grease traps for the kitchen. Not installing them will incur a serious penalty of a S$5,000 fine.
Registration is also necessary for at least one food handler if the business serves food to the public. The food handler must have recent records of typhoid inoculation, chest X-rays for tuberculosis, and have completed the WSQ Basic Food Hygiene Course. All food handlers are also required to be registered with the National Environment Agency.
Rikvin offers business solutions for both local and foreign investors and entrepreneurs. The firm’s specialties include company incorporation services, offshore company setup, incorporation and other related corporate services. Rikvin also provides taxation, immigration and application of Singapore work visa for foreign workers to work and relocate in Singapore. For enquires on local business compliance issues, visit our website at http://www.rikvin.com/.
Rikvin PTE LTD
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines : (65) 6438 8887