International Enterprise (IE) Singapore
works with companies in a wide range
of industries to furnish them with the
knowledge and support they need to
not only become globally ready, but
globally competitive.
IE Singapore is the key driver of Singapore’s external economy, with
more than 39 offi ces across six continents (more than half of which
are in emerging markets). It prides itself on promoting our nation’s
bustling business and trade hub to the world and priming Singapore
companies for growth and market penetration overseas.
Many local companies have benefitted from IE Singapore’s
assistance. One of them was Love, Bonito, an international online
boutique for quality women’s apparel. IE Singapore helped smoothen
Love, Bonito’s expansion into Malaysia by providing them with in-market
contacts for public relations, marketing and manufacturing.
With IE Singapore’s expertise in bringing Singapore brands abroad,
it’s no wonder that roughly half of Singapore SMEs have overseas
revenue and more of them are also looking to chart their own growth
and success stories abroad.
Doing business in overseas markets
As a global team with a global outlook, IE Singapore is represented
in all continents with 39 offices across the world. In fact, the
Johannesburg office in South Africa recently welcomed 26-year-old
Faridah Mohd Saad as its new Centre Director.
Faridah first started her career at IE Singapore in 2011 with the
Project Development Group, before moving to become Manager of the Middle East and Africa Group in December
last year and eventually accepting her current
position in Johannesburg.
To the undiscerning eye, Faridah’s job in the
Middle East and Africa Group might seem like
a risky undertaking, considering that she is of
the fairer gender and has to do business in a
seemingly-turbulent region.
Faridah Mohd Saad
IE Singapore Mid-Term Scholar
Designation:
Manager, Middle East and Africa Group
Studied:
Bachelor of Arts and Social Sciences,
National University of Singapore
"It is also important to embody
an entrepreneurial spirit as much as your
companies do, because ultimately you are the
ones opening the doors to the overseas market."
But the sanguine individual is quick to address
these unwarranted concerns, explaining,
“People often perceive Africa as a continent that
is war-torn, conflict-ridden and threatened by
health epidemics. They fail to realise that Africa
is the fastest-growing continent after Asia,
with a trillion-dollar combined economy and a
population of over 1.2 billion. There is indeed
massive, untapped potential for Singapore
companies to invest and trade there.”
Faridah also faces the challenge of dealing
with culture clashes and communication
gaps in a foreign land. However, IE Singapore
prepares its officers to overcome this challenge
by providing for foreign language lessons.
These include German, Portuguese, Russian
and other relevant languages. In fact, these
lessons are not only available to those preparing
for overseas postings - they are also available
for HQ officers with an interest in the language,
or have dealings with the country of language.
Bringing local companies overseas
IE Singapore’s mandate to champion
internationalisation is something Faridah
strongly resonates with. The political science
graduate applied for her scholarship because
she was drawn to both serving in the Public
Service and assisting local entrepreneurs to
grow locally and abroad.
This support and push for internationalisation
is exemplified in one of Faridah’s projects, where
she helped a Singapore company build its first
green-building showcase in Cambodia during
her tenure with the Project Development Group.
This project saw Faridah working with key
government and industry organisations in
Singapore and Cambodia to jointly showcase
green products and structures and share
insights about energy-efficient buildings, all to
reduce logging activities and greenhouse gas
emissions.
Faridah was able to leverage on Singapore’s
expertise in green building to launch this project.
“It was difficult to manage the company’s
expectations and balance everyone’s interests.
I had to adopt an open and flexible mindset
to ensure mutual benefit. The entire project
(including the construction and design of
the showcase structure) took two years and
its success gave me a tremendous sense of
accomplishment,” she muses.
Faridah and her dedicated team in IE
Singapore, with support from colleagues in
other ministries, also spearheaded the Asia
Infrastructure Centre of Excellence (AICOE),
a joint initiative with the Asian Development
Bank to catalyse infrastructure development in
Singapore. The AICOE works with governments
to identify their infrastructure needs and create
projects through private sector participation
and investments. These projects create
opportunities for both SMEs and larger
companies. Faridah adds, “The SMEs today are
the global firms of tomorrow. It is important to
groom, support and mentor them in order for
Singapore to continue its economic progress.”
Building relationships
When asked about the kind of qualities
Singapore companies must possess in order
to soar in overseas emerging markets, Faridah
advises that they must be patient, determined
and willing to work with a flexible timeline. The
ability to manage both political and commercial
risks is also vital for progression.
She shares, “We don’t stress this enough, but
companies must take time to understand the
market they are looking to enter and its cultural
nuances. It is also wise to bear in mind that
although we are efficient, efficiency is not the
most important factor for growth in emerging
markets. There is also a need to invest in
relationships – it is easy to forget this when you
are caught up in trying to close a deal.”
Clearly, Faridah places a huge emphasis
on nurturing her relationships. Her supervisor
during her undergraduate internship in the
Enterprise Service Group also became her
mentor after she started her career and is
someone she has come to greatly admire. “It has
been two years since she left the organisation
but we still remain very close. She has guided
me both personally and professionally – in
fact, all our middle- and senior-management
personnel are nurturing figures,” she tells us.
In addition to receiving support, guidance and
advice from mentors to take on a steep learning
curve, aspiring IE Singapore scholars can also
look forward to a dynamic, fast-paced career
within the organisation. “IE Singapore seeks to
nurture global-ready individuals who possess
strong cultural awareness and an international
outlook. It is also important to embody
an entrepreneurial spirit as much as your
companies do, because ultimately you are the
ones opening the doors to the overseas market.
“Aspiring scholars must believe in IE
Singapore’s mandate to assist Singapore
companies as they enter into global markets.
Not having a fear of flying will also bode well for
your future overseas stints and posting!” Faridah
rounds up with a laugh.