Business chambers crucial for Singapore's growth

Singapore’s Prime Minister Lee Hsien Loong said association and chambers like the Singapore Chinese Chamber of Commerce and Industry (SCCCI) can help businesses recognize new growth prospects, increase productivity and develop new capabilities in Singapore, according to media reports.
Lee was speaking during the installation ceremony of the 57th council of the SCCCI.
It is possible to build a vibrant economy and generate more prospects for Singapore by working together, he added.
Following the recent discussion about the critical economic and social challenges that the country is facing, Lee assured the gathering comprising more than 250 business leaders and foreign diplomats that "the outlook for Singapore businesses is bright".
Citing an example of sauce maker Hai, the premier said many Singaporean companies have developed and flourished their business worldwide.
At the same time, foreign companies are also interested to invest in the city-state as it is located in the world's most dynamic region, he added.
The PM praised the 107-year-old Chinese business group for self-renewal of its leadership, encouraging Chinese culture, and working with the government to enhance business strategies.
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