PM Lee Hsien Loong Visits Silicon Valley to Strengthen Economic Ties Ahead of APEC Summit
On November 14, 2023, Enterprise Singapore opened its San Francisco Overseas Centre, marking its third office in the United States. This new location strengthens Singapore’s engagement on the West Coast and serves as a support hub for Singaporean companies looking to tap into the Bay Area’s innovation ecosystem.
During the office’s launch, Prime Minister Lee Hsien Loong emphasized the importance of bilateral economic relations between Singapore and the US, particularly in sectors such as biomedical, food manufacturing, and transportation. He also expressed confidence that these ties could grow even stronger, especially in the tech and advanced manufacturing sectors.
Enterprise Singapore’s CEO Lee Chuan Teck highlighted the Bay Area’s rich innovation ecosystem, stating that Singapore companies could benefit from the region’s technology, talent, and capital. Singapore’s involvement in sectors like fintech, consumer tech, and manufacturing is already strong, and the new office will further support growth in clean energy, transportation, and logistics.
The US remains Singapore’s third-largest goods trading partner, and Enterprise Singapore noted that the number of companies entering the US market has increased by 23% in the past five years. The new office aims to foster further growth, with an emphasis on helping Singapore manufacturers integrate into the US supply chains, particularly in aerospace, medical technology, and semiconductors.
Before the office’s opening, PM Lee visited Apple and Google in Silicon Valley. During these visits, he exchanged views with Apple CEO Tim Cook on their ongoing partnership with Singapore and was briefed on the latest developments in artificial intelligence (AI) and advanced technology at Googleplex.
In the evening, PM Lee attended a reception with about 500 overseas Singaporeans living in the Bay Area, where he encouraged them to continue strengthening ties with Singapore while contributing to the Singapore-US relationship.
