Singapore could identify areas of value add for Belt and Road Initiative: Surbana Jurong Group CEO Wong Heang Fine
At the Singapore Institute of Directors (SID) Conference held on 7 September 2018, Surbana Jurong Group CEO Wong Heang Fine called for Singapore to actively identify areas which the nation and its businesses can value add to the Belt and Road Initiative (BRI). This would help to catalyse the formation of consortiums in Singapore to seek business opportunities to participate in the BRI, as businesses need to collaborate to manage the sizeable infrastructure developments.
Mr Wong was speaking as a panellist at a session entitled “Belt Road Initiative: Who Benefits and How?”. As a consultancy firm which specialises in urban and infrastructure development projects, Surbana Jurong recognises the benefits of the BRI, especially for Asia, where the infrastructure of many countries is still not fully developed. A key success factor of BRI is in China’s ability to earn the trust of participating countries on the financial and environmental sustainability of the projects.
One advice which Mr Wong has for businesses involved in the BRI, is the need to exercise prudence and to focus on the appropriate governance processes, as all infrastructure projects are complex and require close management. For Singapore, the country’s reputation for being transparent, disciplined and trustworthy stands it in good stead to ride on the growth of the region on the back of BRI.
The SID Conference 2018, held in Marina Bay Sands, focused on the topic “Rebooting Globalisation and Governance in an Era of Disruption”. The Guest-of-Honour was Ms Indranee Rajah, Minister in the Prime Minister’s Office and Second Minister for Finance and Education. The other panellists at Mr Wong’s session included Mr Yang Yuelin, Deputy Group Managing Director, IMC Industrial Group; Dr Hans-Paul Buerkner, Chairman, The Boston Consulting Group; Mr Lin Jie, Founder and President, Worldwide Logistics Group and Mr Kurt Wee, President, Association of Small and Medium Enterprises.