MEDIA STATEMENT

BUYSINGAPORE’S CHINESE NAME AND WEBSITE UNVEILED TODAY

IE Singapore unveils new Chinese website and name for BuySingapore, the national business matching portal to market Singapore products and services. 

IE Forum 07, Day Two Highlight --- In-conversation with MOS Lee Yi Shyan on challenges and strategies for SME exporters.

MR No.: XXX/07
Singapore, 11 July 2007

BuySingapore, an initiative by International Enterprise (IE) Singapore and Abecha pte ltd, has adopted a Chinese identity to reach out to Chinese-speaking communities around the world, especially China.  Mr Chong Lit Cheong, CEO of IE Singapore, unveiled today, the Chinese website of BuySingapore, complete with its Chinese name, “百新网” at Day Two of IE Singapore’s annual flagship event, the International Enterprise (IE) Forum 07.

After it opened to a crowd of over 700 participants yesterday, who gathered to hear leading overseas and local speakers share their insights on international growth strategies and market development and trends, IE Forum 07 continues in full speed today, this time focusing on the topic of exporting.  The programme covered a wide range of issues surrounding exporting, such as branding, distribution, export assistance tools, Free Trade Agreements, trade financing and supply chain management solutions.  The export focused programme is a key effort by IE Singapore to strengthen and develop the capabilities of SME exporters to broaden Singapore’s existing base of competent exporters.  Attended by over 300 Singapore exporters, Day Two’s programme featured a special in-conversation with Minister of State for Trade and Industry, Lee Yi Shyan, who engaged in a lively discussion on exporting issues with the participants. 

BuySingapore to help exporters target the China market and Chinese-speaking communities around the world.

 

The decision to launch a Chinese website version of BuySingapore, the national business matching online portal, was in line with the profile of its visitorship, which were mainly from China, the US and Australia. The Chinese site will be necessary to cater to the large Chinese-speaking base of companies both locally and internationally. Since its launch in November 2006, BuySingapore has attracted over 6,000 foreign companies to register on the portal and posted more than 9,000 foreign leads.

BuySingapore’s Chinese name “百新网” was selected to support the development of the dual language capability site, and the result of IE Singapore’s tie-up with Zaobao.com to host an online naming contest.  The contest, which ran from 2-31 May, was opened to participants from around the world. The winner was picked from a total of 2,350 entries. Among the valid entries, 800 were from China and 400 from Singapore.

www.buysingapore.com

 

The judging panel comprising Mr Lim Sah Soon, Secretary-General of Singapore Chinese Chamber of Commerce and Industry, Mr Yeo Swee Hong, Executive Editor of Lianhe Zaobao and Mr Ted Tan, Deputy CEO of IE Singapore, agreed unanimously that “百新网” was the best choice for BuySingapore.

Said Mr Ted Tan, “The judges felt that the meaning of the Chinese characters and how it sounds when spoken cleverly reflected the value proposition that BuySingapore brings to both Singapore and foreign enterprises looking for potential business partners or for abundant new trading opportunities.”

The first prize winner of the contest, Mr Tom Wei Jin Song, walked away with an Akira 32-inch LCD TV sponsored by TT international. Please see Annex 1 for names of other winners and prizes.

BuySingapore helps Singapore-based enterprises export their products and services internationally by allowing local and foreign enterprises to create, view and post company profiles, trade leads and product catalogues from a wide range of industry sectors. Through an auto-matching mechanism, enterprises are alerted to appropriate matches, allowing both local and foreign businesses to make that first connection with each other.

According to Mr Joe Cheu, Sales and Marketing Director of InfoWave, an established Singaporean developer and manufacturer of location based GPRS telematics solutions, and registered member of BuySingapore, “The BuySingapore portal is a cost effective communication platform to create awareness of our products to the rest of the world.”

IE Singapore has actively promoted BuySingapore since its launch locally and internationally through tradeshows such as CeBIT in Germany, China International Medical Equipment Fair in China, Foodex in Japan, as well as through both foreign and local trade associations to increase awareness and usage of the portal.

For local or foreign enterprises who are interested in signing up with BuySingapore or for more information, please visit www.buysingapore.com.

Note to Editor
Please use ‘IE Singapore’ or ‘IE’ if an acronym for ‘International Enterprise Singapore’ is required.

About International Enterprise Singapore
International Enterprise (IE) Singapore is an agency under the Ministry of Trade and Industry spearheading the development of Singapore’s external economic wing.

Our mission is to promote the overseas growth of Singapore-based enterprises and international trade.  With a global network in over 30 locations and our “3C” framework of assistance – Connections, Competency, Capital, we offer services to help enterprises export, develop business capabilities, find overseas partners and enter new markets.  At the same time, we work to position Singapore as a base for foreign businesses to expand into the region in partnership with Singapore-based companies.

Please visit www.iesingapore.com for more information.

About Abecha Pte Ltd
Abecha Pte Ltd, a joint-venture of SESAMi, Microsoft and Intraco is a premier sourcing and procurement service provider. It was founded in July 2001 with JTC Corporation with the mandate to serve JTC’s community of 7,000 industrial business tenants. Being one of the largest eMarketplace service providers in Singapore, we offer a range of services in collaboration with the Singapore Government to help local SMEs to reach out and compete in the global marketplaces.  Some of our core services are sourcing services, eAuction, demand aggregation, procurement and business centre services. 

Please visit www.abecha.com for more information.

About BuySingapore
BuySingapore is an initiative by International Enterprise (IE) Singapore in collaboration with private sector partner, Abecha Pte Ltd, to help local enterprises market their products and services internationally through an online business matching and trading portal. IE Singapore is an agency under the Ministry of Trade and Industry responsible for promoting the overseas growth of Singapore-based enterprises and international trade.  BuySingapore also aims to be the one-stop, trusted e-platform for foreign companies to search for local business contacts or procure Singapore products and services.

Spanning a wide range of industry sectors, BuySingapore allows local and foreign enterprises to access trade leads from one of the most reliable and comprehensive databases. It also provides a sophisticated auto-business matching mechanism that alerts enterprises of appropriate matches, allowing businesses to make their first connection with each other. 

Please visit www.buysingapore.com for more information.

Annex 1

Winners of BuySingapore Chinese Name Competition

  • 1st Prize – Tom Wei Jin Song (Location: Singapore)
  • 2nd Prize – Liam Wai Tek (Location:China)
  • 3rd Prize – Xu Jun (Location: China)
  • 4th Prize – Tan Sze Lee (Location: China)

Prizes sponsored by TT International

  • 1st Prize     Akira 32-inch LCD TV
  • 2nd Prize     Akira 7 inch Portable DVD Player
  • 3rd Prize     Akira DVD Home Theatre System
  • Merit Prize  Akira DVD Player