Singapore sees SA as investor-friendly destination

The Western Cape delegation was addressed by Kelvin Tan, deputy director for emerging markets representing the Singaporean Ministry of Trade and Industry. "Our investors are keen to enter the African market because of the perception of Africa as an investor-friendly destination. We are serious about Africa and South Africa as a lucrative investment option," Tan commented.

In his response Alan Winde, Western Cape minister of finance, economic development and tourism, underlined the similarities between Singapore and Cape Town as port-destinations for business, logistics and tourism. "We truly admire the economic achievements of Singapore and are keen to learn the valuable lessons in the context of the entire Asian economic block. It is amazing how they invest in the development of business infrastructure to drive medium and long-term economic growth. We are already active in what is known as the BRIC economic formation, but are keen to expand it into Asia. In this regard the location of Singapore is ideal."

Spending is more important than numbers

Cape Town Routes Unlimited CEO Calvyn Gilfellan added: "From a tourism perspective, there are a couple of lessons for us. Firstly, it is quite amazing how a nation of no more than five million welcomes 13 million international visitors per annum. It is also refreshing to hear that they are not chasing visitor numbers, but rather value in terms of actual spending. This requires very intricate planning and target marketing which is something often lacking in our marketing endeavours."

Andre van Straten from the South African High Commission in Singapore offered their services for this and future engagements in the market. "In February 2012 the Singaporean Trade and Investment arm will hold a business networking session in South Africa emphasising the role of partnerships in economic development and investment. This will culminate in a major African investment promotion forum scheduled to take place from 19-20 August 2012 in Singapore - clearly underlining their serious interest in the emerging markets and Africa in particular."

Some of the immediate opportunities for co-operation for the Western Cape include the hosting of a Cape Food and Wine Fair in Singapore during the first half of 2012 as well as the setting up of a co-operation agreement between a leading Singaporean Business School and one of the Western Cape's tertiary institutions.