27 November 2001 Media Statement

Technology park gives NZ companies important presence in Singapore business hub

Prime Minister Helen Clark announced today that a newly-established technology park in Singapore would help high-tech New Zealand companies to build their presence in an increasingly vital market.

“With facilitation by Trade New Zealand, the New Zealand companies will be able to share facilities and marketing and other services at Phase Z.Ro, located in Singapore’s multi-billion dollar Buona Vista Science Hub.

“Even in an age of near-instant global communications, in which so much business can be transacted via the Internet, the benefits of companies having an on-the-ground presence in some markets should not be underestimated.

“New Zealand companies Fisher and Paykel, IRL and Tait Communications have already demonstrated the value of having bases in Singapore in their drive to increase their business throughout the region.

“The Phase Z.Ro location will enable more of our burgeoning technology companies to have a physical presence in Singapore, while minimising the legal, property and other costs of doing so.

“Several Trade New Zealand clients have expressed interest in establishing a presence at Phase Z.Ro either through virtual facilities or a direct market presence.

“These companies have been engaged in business development in Singapore this year, and are now looking to consolidate their efforts and commitment to the market through establishing a presence.

“The New Zealand companies are also aware that to win the larger contracts in Singapore, a market presence is imperative.

“With its British-based legal system and English-speaking workforce, Singapore is an ideal place for our companies to do business in Asia, and is the gateway to a massive market.

“In the coming months, Trade New Zealand will be canvassing technology companies to establish their interest in the Phase Z.Ro Technology Park.

“The Phase Z.Ro project highlights the long-term spin-offs of the Closer Economic Partnership Agreement between New Zealand and Singapore, signed a year ago. It will show-case the technological know-how of New Zealand companies.

“In turn, New Zealand can learn about Singapore’s approach to developing business clusters.

“Further demonstrating our commitment to the relationship with Singapore, the Minister for Communication and Information Technology, Paul Swain and Minister for Trade Negotiations, Jim Sutton are both visiting Singapore this week, with Mr Swain scheduled to tour the Phase Z.Ro site on Thursday.

“Trade New Zealand’s championing of Phase Z.Ro further underlines the Labour-Alliance government’s commitment to building a knowledge economy, from which all New Zealanders can benefit,” Helen Clark said.

ENDS

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