IE Singapore to increase fundings for enterprises expanding globally

International Enterprise (IE) Singapore, a government agency, has developed several programmes to support the republic's local enterprises in their internationalisation efforts. Minister for Trade and Industry, Lim Hng Kiang said exploring new markets would be to the way to ensure continued growth and overcome their small domestic market. Towards this, he said IE Singapore, which is the agency driving Singapore's external economy, will increase its level of funding for selected capability development programmes, covering areas in design, intellectual property, branding as well as mergers and acquisitions. IE, which spearheads the overseas growth of Singapore-based companies and the promotion of international trade, will also expand its suite of financing schemes to increase support for the local companies who are exploring new and less familiar markets. Lim said this in his address at the official opening of the International Furniture Fair Singapore/ASEAN Furniture Show, Deco Asia and Hospitality Show 2012 here Friday. A total of 512 companies representing 26 countries are participating at these events, which took off today and will conclude on March 12.