When software engineer Lim Jing Yee moved back to Singapore from Silicon Valley more than a decade ago to help roll out Google Maps in the region, it was growing rapidly in Internet adoption.
"The market was growing like crazy... People came online, they needed to use maps, and so the company decided to set up an engineering presence here to focus on some of this work, and to bring maps to Singapore and Malaysia," the 48-year-old told The Straits Times.
In the past 11 years, he has seen the Republic take on some characteristics of Silicon Valley for technology and innovation, with its skilled workforce and connectivity.
These, on top of Singapore's proximity to growing markets in Asean, add to Singapore's value proposition, Economic Development Board (EDB) managing director Chng Kai Fong said yesterday.
Becoming Asean's business centre and continuing Singapore's push towards an innovation-led economy are among the EDB's main priorities for this year.
Google's presence here has grown, and more firms, including online payments firm Stripe, have also set up engineering centres here, underscoring Asean's global rise.
"Rather than adding a couple of hundred more engineers in San Francisco or London, we can offer something different," said Mr Chng.
"It will be a different culture, different environment, growth opportunities... proximity to newer markets. That is essentially the value proposition for Singapore."
But there is work ahead for Singapore if it wants to be where the world does business with Asean, he said. This includes understanding how Singapore can play a role in the Asean operations of companies.
Asean's growth opportunities come amid trade tensions and potential diversions of supply chains from China. Mr Chng noted that, at first, firms are likely to start by using their spare capacities in the region, rather than make large investments.
EDB chairman Beh Swan Gin added that this is a diversification and not relocation, given the size of the Chinese economy, although the region stands to benefit from it.
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