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13DIRECTORYOFSINGAPOREPROCESS&CHEMICALSINDUSTRIES2024/2025Singaporeseconomycontinuedtoexpandby29percentinthesecondquarterof2024extendingthe30percentgrowthinthepreviousquarterFortherestoftheyearthechemicalsclusterisexpectedtocontinuetoexpandsupportedinpartbyhigherproductioninthepetrochemicalsandspecialtychemicalssegmentsOntopofthegrowthdomesticallySingaporeProcessandChemicalcompanieshadalsoexpandedintoneighboringmarketslikeBruneiandVietnamaswellasMiddleEasterncountrieslikeSaudiArabiaandtheUnitedArabEmiratesLookingaheadtheglobaleconomycontinuestoberesilientwiththeOECDprojectingsteadyglobalGDPgrowthof31%in2024risingto32%in2025HereinAsiatheADBprojectsrobustGDPgrowthof49%in2024and2025providingtangibleopportunitiesforbusinessesclosertohomeCompaniesshouldthereforecontinuetobeboldtoventureoutandseizethesegrowthopportunitieswheretheyariseAgainst this backdrop EnterpriseSG is heartenedtopartnerASPRIinhelpingmembersontheirinternationalizationjourneyAfterasuccessfulGastechwithASMI(AssociationofSingaporeMarine&OffshoreEnergyIndustries)in2023ASPRIwillbeleadingaSingaporedelegationtoorganiseitsfirstSingaporePavilionattheOil&GasAsia(OGA)2024tradeshowTheseeffortsdemonstrateASPRIsunwaveringcommitmenttosupportthegrowthofitsmembersinanever-evolvinggloballandscapeEnterpriseSGstronglyencouragesmemberstoleverageASPRIsexpertiseinexpandingtheirpresenceabroadtotapontheseoverseasopportunitiesforcontinuedgrowthDomesticallybusinessesandworkerswillneedtocontinuouslyupskillandupgradetoremainrelevantandcompetitiveintheglobalmarketAsannouncedintheindustryengagementsessionearlierthisyearASPRItogetherwithindustrystakeholdersandgovernmentpartnerswillbedrivinginitiativestoprepareitsmembersfortransitiontowardstheEnhancedR1frameworkcome2026Thesewouldincludetherolloutofnewlyintroduceddeep-skillingandrefreshercoursesaswellastheintroductionofincentivestoencouragebusinessestostartupskillingtheirworkersearlyThegovernmentwillcontinuetopartnerASPRItosupporttheindustrystransformationtowardsamanpower-leanmoreproductiveandskills-basedworkforceEnterpriseSGreaffirmsitsclosepartnershipwithASPRIanditscommitmenttofosteringavibrantandresilientbusinessecosystemamidstacomplexglobaleconomicandgeopoliticallandscapewhereSingaporeProcess&ChemicalsenterprisescontinuetoshineTaufikFaroockDirectorMarine&OffshoreEnergy&ChemicalsEnterpriseSingaporeMESSAGETaufikFaroockDirectorMarine&OffshoreEnergy&ChemicalsEnterpriseSingapore
