We strongly believe that the partnership will act as a catalyst in bringing more foreign companies and investments to our shores and thus add more vibrancy to the economy of Singapore.
(PRWEB) August 03, 2011
Satish Bakhda of Singapore corporate services agency Rikvin Consultancy, welcomed the new partnership accord signed between HSBC and EDB recently. HSBC has agreed to work with EDB Singapore for the next three years in a concerted drive to target companies worldwide and ease their entry into Singapore. Under the arrangement, HSBC will invite EDB to some of its road shows, exhibitions, seminars and networking sessions worldwide to speak to companies about what Singapore can offer them. HSBC will also offer interested companies advice on investment opportunities, help them set up operations and offer financial support where appropriate.
Enterprise Development Board has amplified its efforts to attract foreign businesses and more recently the focus is on fast growing mid-sized companies. EDB promotes Singapore as a springboard for regional and international expansion and as a hub for managing key business functions such as marketing, research & innovation and talent development etc. To achieve this, it taps on the international networks of its own as well as that of its complementing partners. The objective is to provide comprehensive information, services and solutions.
In line with this objective, EDB is also in talks with more than 20 accounting and legal firms, consultancies, business associations and country chambers to pool their complementing resources to facilitate the entry of foreign companies into Singapore. EDB will be able to tap on the pan-Asian network of HSBC’s corporate client base which has a significant number of mid-sized Asian companies. It presents the right fit to work with and focus the efforts to coax the mid-sized companies aspiring to expand abroad to choose Singapore to setup their subsidiary companies.
Satish says, “We strongly believe that the partnership will act as a catalyst in bringing more foreign companies and investments to our shores and thus add more vibrancy to the economy of Singapore. EDB’s visionary schemes such as Global Investor Programme and Entrepass have been instrumental in attracting foreign enterprise and investors to Singapore, generating huge economic spin-offs in the form of job creation, availability of capital, enterprise growth and more importantly a very conducive enterprise ecosystem. Given the fact that Asia will take the reins of global economic growth, this part of the globe will witness the core of action. In the evolving scenario it is the mid-sized companies that will require a closer and customized guidance. Such partnerships will serve as a one stop shop for information and solutions. As always, EDB Singapore has been proactive and we are sure the synergies will benefit the mid-sized companies around the globe and will not remain limited to Asia.”
Satish also drew attention to the statement of Mr. Alex Hungate, the group general manager and chief executive of HSBC Singapore. Hungate cited that the number of the bank's overseas business customers setting up bank accounts with HSBC Singapore has doubled over the past two years. Satish said, “ even at Rikvin we have recognized a clear surge in enquiries regarding Singapore company registration process and a good number of such enquiries were from mid-sized companies with regional or international business operations. It is a clear indicator of Singapore shaping up as an indispensable partner in their progress."
Rikvin offers business solutions and has successfully helped hundreds of foreign and local entrepreneurs form a Singapore company. The firm’s specialties include company registration, offshore company setup, incorporation and providing professional corporate services. Rikvin also provides professional services on accounting, taxation, immigration and processing of Singapore work visa for foreign workers to work and relocate in Singapore.