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IE Singapore

International Enterprise Singapore or IE Singapore is a government agency under the Ministry of Trade and Industry. Its mission is to promote international trade, help local enterprises grow globally and encourage foreign businesses to link up with local firms in their expansion plans within the region. It is headquartered at Bugis Junction Office Tower along Victoria Street and has offices in more than 30 other locations all over the world.

History
Prior to April 2002, IE Singapore was known as the Singapore Trade Development Board (TDB). TDB was formed in 1983 to promote Singapore's goods and services internationally and to develop Singapore into an international trading hub. Overseas centres to facilitate trade and investments were established progressively throughout the 1980s and 1990s. In 1989, TDB implemented TradeNet, the world's first nationwide Electronic Data Interchange system for trade documentation processing. In the 1990s, TDB represented Singapore in trade negotiations with international organizations like the World Trade Organization and stepped up efforts to attract investments into Singapore. It also provided Singapore companies with up-to-date regional business market information to facilitate their business growth.

In April 2002, in addition to its traditional role of promoting trade, TDB was tasked to help Singapore-based companies grow overseas. It was officially renamed International Enterprise Singapore to reflect its new mission. The organization was also restructured to provide more effective and focused support to companies in their internationalization efforts.

Key Business Groups
There are five key business groups within IE Singapore: trade group, international operations group, corporate group, capability development group and enterprise group.

Trade Group
The trade group's primary role is to develop and support Singapore's international trading activities. This includes providing information on export practices and promoting knowledge-intensive and value-adding activities such as risk management and supply chain management within the trading community. It also promotes awareness and utilization of free trade agreements in Singapore.

International Operations Group
The main role of the international operations group is to help Singapore-based companies expand overseas through its network of overseas centres in over 30 locations worldwide. The centres provide much needed on-the-ground market intelligence and business facilitation services to Singapore enterprises in these overseas markets.

Corporate Group
The corporate group is organized into seven industry clusters: business services, electronics & precision engineering, environmental services, info communications technology, infrastructure services, retail & lifestyle services and transport & logistics. By organizing into industry clusters, the corporate group is able to provide tailored assistance to help companies overcome industry-specific challenges in the process of venturing overseas.

Capability Development Group
The capability development group provides resources to enable Singapore companies to gain the capabilities that will allow them to compete in the global market. The group also administers capital financing schemes, tax incentives and grants to facilitate the companies' overseas expansion.

Enterprise Group
The enterprise group offers a broad range of services including customer service, customer research, business matching and business advisory to local companies that are planning to expand into overseas markets.

Assistance Programmes
IE Singapore supports local companies in their efforts to become established global enterprises through its 3C framework of assistance, which organizes the services it provides into three main categories - capital, connections and competency. Each business group in the organization plays a different but important role within this 3C framework.

Capital
Various financing schemes are provided to help companies obtain the necessary capital to fund their overseas ventures. These include trade credit insurance schemes, enterprise financing schemes and loan insurance schemes. IE Singapore also provides training and overseas business development grants. In addition, companies may enjoy double tax deductions for certain overseas investments and market development expenses.

IE Singapore also offers concessionary tax rates to international trading companies under the Global Trader Programme, which is aimed at attracting these companies to use Singapore as a base for their regional or even global business activities.

Connections
IE Singapore helps companies strengthen their business connections in overseas markets through a variety of channels. For instance, it manages an online portal called BuySingapore that facilitates business matching and trading between local and overseas companies, sets up networking platforms such as Network China and Network India that foster connections between companies that are interested in the same regional markets, and organises overseas missions and trade fairs on a regular basis. IE Singapore's overseas centres also play an important role in helping local companies develop valuable business connections in foreign countries.

Competency
Local companies are offered a range of programmes to help them develop competencies necessary for venturing overseas. For example, the Exporter Development Programme aims to equip companies with the skills needed to export overseas. Others include programmes on brand building, design capability development, manpower development and intellectual property (IP) management. In addition, IE Singapore operates an advisory centre that provides personalized assistance and in-depth advice to enterprises that plan to expand overseas.

Timeline
1983 : TDB was formed.
1989 : TradeNet was launched.
Jun 2001 : Global Trader Programme was launched.
Nov 2001 : Launch of Network China.
Apr 2002 : TDB was renamed IE Singapore.
Oct 2002 : Network India was launched.
May 2003 : Network Indonesia was launched.
Oct 2003 : Launch of International Partners or iPartners, a programme that helps companies pool resources and expertise together to venture overseas.
Apr 2004 : Launch of the "Tasty Singapore" food brand, a branding initiative that aims to raise the profile of local food companies in overseas markets.
Apr 2005 : Launch of BrandPact and the IP For Internationalization programme. BrandPact is a multi-agency programme that promotes branding for business development among local companies, while IP For Internationalization helps enterprises leverage IP management in their overseas growth.
May 2005 : Launch of the Local Enterprise and Association Development (LEAD) programme, a multi-agency effort to encourage industry associations to lead projects that will improve the competitiveness of local enterprises in their respective industries.
Nov 2006 : Launch of BuySingapore.
May 2008 : IE Singapore's advisory centre was launched.
May 2009 : Exporter Development Programme was launched.



Author
Jean Lim



References
Aggarwal, N. (1996, November 18). TDB to set up three more overseas offices. The Straits Times. Retrieved September 16, 2009, from Factiva database.

International Enterprise Singapore. (2004, April 20). Taste the talk of Tasty Singapore at FHA 2004 - IE Singapore to launch Singapore food brand at the opening ceremony of FHA 2004 [Press release]. Retrieved September 26, 2009, from http://www.iesingapore.gov.sg/wps/portal/PressRelease?WCM_GLOBAL_CONTEXT=/wps/wcm/connect/ie/My+Portal/Main/Press+Room/Press+Releases/2004/Taste+the+Talk+of+Tasty+Singapore+at+FHA+2004+-+IE+Singapore+to+launch+Singapore+food+brand+at+the+Opening+Ceremony+of+FHA+2004

International Enterprise Singapore. (2005, April 7). Launch of BrandPact - a multi-agency branding initiative for local enterprises [Press release]. Retrieved September 26, 2009, from http://www.iesingapore.gov.sg/wps/portal/PressRelease?WCM_GLOBAL_CONTEXT=/wps/wcm/connect/ie/My+Portal/Main/Press+Room/Press+Releases/2005/Launch+of+BrandPact+-+A+Multi-Agency+Branding+Initiative+for+Local+Enterprises

International Enterprise Singapore. (2005, April 19). Leveraging IP is imperative for success in international business [Press release]. Retrieved September 26, 2009, from http://www.iesingapore.gov.sg/wps/portal/PressRelease?WCM_GLOBAL_CONTEXT=/wps/wcm/connect/ie/My+Portal/Main/Press+Room/Press+Releases/2005/Leveraging+IP+is+Imperative+for+Success+in+International+Business

International Enterprise Singapore. (2005, May 4). Associations to 'LEAD' in shaping future of industries to benefit more local enterprises [Press release]. Retrieved September 26, 2009, from http://www.iesingapore.gov.sg/wps/portal/PressRelease?WCM_GLOBAL_CONTEXT=/wps/wcm/connect/ie/My+Portal/Main/Press+Room/Press+Releases/2005/Associations+To+LEAD+In+Shaping+Future+Of+Industries+To+Benefit+More+Local+Enterprises

International Enterprise Singapore. (2006, November 13). Newly launched national initiative [Press release]. Retrieved September 26, 2009, from http://www.iesingapore.gov.sg/wps/portal/PressRelease?WCM_GLOBAL_CONTEXT=/wps/wcm/connect/ie/My+Portal/Main/Press+Room/Press+Releases/2006/Newly+launched+national+initiative+BuySingapore+slated+to+boost+exports+through+its+online+platform

International Enterprise Singapore. (2009). Annual Report 2008-2009. Retrieved September 26, 2009, from http://www.iesingapore.gov.sg/wps/wcm/connect/7f8b6e804f82364e956bb51cf95a4652/IE_AR08-09_main_Sep09.pdf?MOD=AJPERES

International Enterprise Singapore. (2009, May 28). IE Singapore launches new export programme to help Singapore SMEs [Press release]. Retrieved September 26, 2009, from http://www.iesingapore.gov.sg/wps/portal/PressRelease?WCM_GLOBAL_CONTEXT=/wps/wcm/connect/ie/My+Portal/Main/Press+Room/Press+Releases/2009/IE+Singapore+Launches+New+Export+Programme+To+Help+Singapore+SMEs

International Enterprise Singapore. (2009, September 1). Corporate info - About International Enterprise Singapore. Retrieved September 26, 2009, from http://www.iesingapore.gov.sg/wps/portal/!ut/p/c5/04_SB8K8xLLM9MSSzPy8xBz9CP0os3gDCyNf30C_QA9Hg1APFz9n12ALAwgAykdiypsaG8Dk8esOB9mHXz9YHgdwNMCu393bCKbfzyM_N1W_IDfCIDMgXREAQIcUAw!!/dl3/d3/L3dDb0EvUU5RTGtBISEvWUZSdndBISEvNl8wODJNTVFOUUhBMFVIRE5DRVM4MDAwMDAwMA!!/

International Enterprise Singapore. (2009, September 1). Corporate info - IE organisation chart. Retrieved September 26, 2009, from http://www.iesingapore.gov.sg/wps/portal/!ut/p/c5/04_SB8K8xLLM9MSSzPy8xBz9CP0os3gDCyNf30C_QA9Hg1APFz9n12ALAwgAykdiypsaG8Dk8esOB9mHXz9YHgdwNMCu393bCKbfzyM_N1W_IDfCIDMgXREAQIcUAw!!/dl3/d3/L0lDU0lKSWdrbUEhIS9JRFJBQUlpQ2dBek15cXchLzRCRWo4bzBGbEdpdC1iWHBBRUEhLzdfMDgyTU1RTlFIQTBVSEROQzdVQTAwMDAwMDAvUHNmX18yMDM!/?WCM_PORTLET=PC_7_082MMQNQHA0UHDNC7UA0000000_WCM&WCM_GLOBAL_CONTEXT=/wps/wcm/connect/ie/my+portal/about+us/corporate+info/ie+organisation+chart

International Enterprise Singapore. (2009, September 1). Corporate info - Milestones. Retrieved September 26, 2009, from http://www.iesingapore.gov.sg/wps/portal/!ut/p/c5/04_SB8K8xLLM9MSSzPy8xBz9CP0os3gDCyNf30C_QA9Hg1APFz9n12ALAwgAykdiypsaG8Dk8esOB9mHXz9YHgdwNMCu393bCKbfzyM_N1U_Uj_KHEOVeagjTFVkTmp6YnKlfkFuhEFmQEYgALC7GwA!/dl3/d3/L0lJSklna21BL0lKakFBTXlBQkVSQ0pBISEvNEZHZ3NvMFZ2emE5SUFnIS83XzA4Mk1NUU5RSEEwVUhETkM3VUEwMDAwMDAwLzNzZl9fMjA2/?WCM_PORTLET=PC_7_082MMQNQHA0UHDNC7UA0000000_WCM&WCM_GLOBAL_CONTEXT=/wps/wcm/connect/ie/my+portal/about+us/corporate+info/milestones

International Enterprise Singapore. (2009, September 1). Our assistance - Capital, connections, competency. Retrieved September 26, 2009, from http://www.iesingapore.gov.sg/wps/portal/!ut/p/c5/04_SB8K8xLLM9MSSzPy8xBz9CP0os3gDf4PQMFMD_1A3g2BDI0MPHzcDKNAPB-kAqrAw8vUN9Av0cDQI9XDxczY1hquAyOMAjgb6fh75uan6BdnZaY6OiooAJIyPbQ!!/dl3/d3/L3dDb0EvUU5RTGtBISEvWUZSdndBISEvNl8wTzBVVjUwT1VGMFMxMjFIVUIxMDAwMDAwMA!!/

International Enterprise Singapore. (2009, September 1). Our assistance - Global Trader Programme GTP. Retrieved September 26, 2009, from http://www.iesingapore.gov.sg/wps/portal/AssistanceProgrammes/FinancialIncentives/GTP

International Enterprise Singapore. (2009, September 1). Our assistance - International Partners Programme. Retrieved September 26, 2009, from http://www.iesingapore.gov.sg/wps/portal/AssistanceProgrammes/FinancialIncentives/InternationalPartnersProgramme

International Enterprise Singapore. (2009, September 1). Venture overseas - IE networks. Retrieved September 26, 2009, from http://www.iesingapore.gov.sg/wps/portal/VenturingOverseas/IENetworks

Take off with Singapore (pp.04-05). (2008). Singapore: International Enterprise Singapore.
(Call no.: RSING 382.095957 TAK)

TDB gets new name, mandate. (2002, April 13). The Business Times. Retrieved September 2, 2009, from Factiva database.

Teo, L. (2001, November 21). Singapore firms 'can be MNCs in China'. The Straits Times. Retrieved September 21, 2009, from Factiva database.

Tsang, J. (1989, September 12). TradeNet transactions exceed forecast. The Business Times. Retrieved September 16, 2009, from Factiva database.


Further Readings
Chan, F. (2009, September 23). Giving smaller firms a leg up. The Straits Times. Retrieved September 23, 2009, from Factiva database.

Making the global connection. (2007, March 12). The Business Times. Retrieved September 23, 2009, from Factiva database.



The information in this article is valid as at 2009 and correct as far as we are able to ascertain from our sources. It is not intended to be an exhaustive or complete history of the subject. Please contact the Library for further reading materials on the topic.

Subject
Commerce and Industry>>Trade
International Enterprise Singapore
Foreign trade promotion--Singapore
Business, finance and industry>>Economics>>International trade and economics>>Economic cooperation



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