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Business & Economics News

Singapore Prime Minister Lee on Integration of Open Markets

Singapore Prime Minister Lee Hsien Loong addressed the business forum during the Leader gathering at the ASEAN event in Manila where all 10 countries in South-east Asia were participating.

According to PM Lee, the more integrated and open their markets are, and the more conducive the rules and business environments are to foreign investors, the more benefits would come for everyone.

This event was held in Manila, as the ASEAN Business & Investment Event 2018 November.

South-east Asian governments have been taking steps towards deeper economic integration and openness that would promote trade and foreign investors to the regions. PM Lee is hoping to be able to invest in ASEAN countries and do business all over it.

Asian Economic ministers signed the first agreement on e-commerce on Monday, November 12, which is aimed at facilitation cross-border e-commerce transactions.

Due to this agreement, business will have to prepare to adapt once ASEAN markets are more available to foreign competition.

The main goal for ASEAN is to stay as a central and dynamic driving force in the region that can deal with various challenges and opportunities.

Meanwhile, PM Lee was also congratulating the Philippines for its successful chairmanship, highlighting the framework for the Code of Conduct of Parties in the South China Sea.

This event is of great significance as it signals the beginning of a stable world for Singapore to live in, and a safer South-east Asia where everybody can work together, a more prosperous region where economies can grow, expand markets and seizing of opportunities.