Minister for Communications and Information and Minister-in-charge of Trade Relations S Iswaran has announced the launch of the SUNRISE programme, a programme that sets in motion bilateral trade activities and establishes institutions of commerce between Singapore and the state of Andhra Pradesh, India.
The Singapore Business Federation (SBF) is taking the lead in this multi-agency, government-to-government initiative, which has already seen the formation of the Andhra Pradesh – Singapore Business Council (APSBC) in February last year. The launch of the SUNRISE programme coincides with the SBF-led business mission to the southern Indian state and the first Joint Meeting of the APSBC.
Supported by Enterprise Singapore under the Local Enterprise and Association Development (LEAD) programme, the SUNRISE programme is part of a broader partnership between the Singapore government and the state government of Andhra Pradesh to build the new capital city of Amaravati by 2024 with a goal to encourage more Singapore companies to explore business opportunities in Andhra Pradesh.
In its role as Singapore Secretariat for the APSBC, SBF will facilitate progress through the strategic thrusts of capacity and knowledge building, business facilitation and exploring new themes for collaboration.
To raise awareness of the Amaravati project and the opportunities it brings among the Singapore business community, SBF aims to organise both outbound and inbound missions, so companies from both sides can get valuable first-hand insights of their respective destination markets.
Business missions will include dialogue platforms and forums, site visits and networking with local businesses, government agencies, and associations and chambers – which will eventually translate into in-depth knowledge of Amaravati and the larger state of Andhra Pradesh.
SBF will also facilitate high-level engagements, which will provide Singapore companies with access to government decision makers, and also the opportunity to offer feedback on on-going projects and challenges faced.
SBF’s Chief Executive Officer, Ho Meng Kit said, “These engagements can be organised as a component of a business mission or in conjunction with visits by high-level government officials. They are an unmistakable demonstration of the political will behind the Amaravati project, and will greatly instil confidence in companies contemplating expansion into Andhra Pradesh.”
With support from its network of trade associations and chambers, combined with a membership base of some 26,000 companies – which includes local SMEs, foreign companies and multinationals with operations in Singapore – SBF is uniquely positioned to maximise its reach locally, and also encourage third-country partnerships.
“The SUNRISE programme represents a vast reservoir of untapped potential and offers myriad opportunities for Singapore firms to secure new supply chains, markets and trading partners. Amid the current global uncertainties and trade tensions, collaboration with Andhra Pradesh is a good way for businesses to diversify and expand overseas.Andhra Pradesh is also a good platform for businesses to establish a foothold and extend their operations to other regions in India,” he added.
