Southeast Asia Manufacturing Alliance is formed by ESG and EDB to provide easier steps for industrial parks to connect to global manufacturers and suppliers.
Manufacturers are among the pivotal parts of any environment of industries including industrial parks. Therefore, connections to top-notch manufacturers are necessary for stimulating the growth and development of heavy industries in industrial parks. Regarding that matter in the region of Southeast Asia, a new alliance is revealed to support industrial parks, especially in Singapore and the surrounding areas. It is a necessary step in ensuring the continuity of the industries in the region.
A tripartite agreement that involves private sector partners of industrial parks, Singapore Economic Development Board, and Enterprise Singapore is set recently. It aims to provide suppliers and SMEs in the region of Southeast Asia with the necessary connections to manufacturers within the respective industry. Therefore, it stimulates the growth of companies and businesses within the industrial parks in the region.
Of course, they need to join the Southeast Asia Manufacturing Alliance agreement first. The new alliance is not only beneficial in providing connections to manufacturers but also partnership
chances with suppliers in Singapore. Furthermore, it also opens up the chance of promoting industrial parks from Southeast Asia to those global manufacturers who want to invest in Singapore and the region.
In many ways, it is a beneficial agreement that boosts the competitive environment of industrial parks specifically in Singapore and the Southeast Asia region. The program is based on this Southeast Asia Manufacturing Alliance launched by the Minister for Trade and Industry, Chan Chung Sing. It described the initial partners for the strategic move of the SMA including Gallant Venture, Sembcorp Development, and CapitaLand. Without a doubt, they are the giants in their respective industries.
For example, CapitaLand is a real estate giant in the region. On the other hand, Sembcorp Development is a well-known urban developer in the industry. In many ways, this partnership through the SMA provides an easier chance for numerous manufacturers to understand the industrial park ecosystem in Singapore and Southeast Asia. Furthermore, it also simplifies the process for companies and businesses to initiate their operations in the region.
There will not be any unnecessary steps that they have to take in growing their businesses and companies within the partner industrial parks of the Southeast Asia Manufacturing Alliance.
Of course, this alliance covers the region of Southeast Asia which includes Indonesia, Vietnam, and Malaysia. It is a reasonable matter since all of the strategic partners of the alliance have operated their businesses in those countries collectively. Hopefully, it delivers positive effects on the environment of industrial parks within the region of Southeast Asia in no time.