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Deputy chief executive and executive director Steven Koh said partnerships can create “win-win situations”, even if both parties are in the same industry and would usually be competitors.
Having a local partner helps offset some of the challenges a Singaporean firm faces when venturing abroad, including financial risks, adapting to cultural differences and hiring competent employees.
Partners can provide market access, technical knowledge and local knowledge,” said Mr Koh.
“We want partners that are related to our business, who are competing with or completing our business… They must know the business and understand the industry.”
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Credit: Enterprise Singapore and Singapore Press Holdings (first published on The Straits Times)