Remarks by SMS Low Yen Ling at Launch of Trade Association Committee (TACOM) Transformation Centre

Mr Kho Choon Keng, President, Singapore Chinese Chamber of Commerce and Industry (SCCCI)

Leaders and representatives from Trade Associations and Chambers (TACs),

Distinguished guests,

Ladies and gentlemen,

Introduction

1. A very good afternoon to everyone. Thank you for inviting me to the Launch of the Trade Association Committee (TACOM)Transformation Centre.

2. Earlier in May this year, SCCCI shared their exciting plans for the Centre. Today, I am excited to see these plans come to life.

3. Like what Mr Kho mentioned in his opening speech, this Centre represents SCCCI's continued commitment to supporting not only its members but also the wider TAC community in their growth, industry transformation, and collaboration with each other.

The TACOM Transformation Centre

4. We have made significant strides since establishing the Trade Association Hub (TA Hub) seven years ago. In 2017, then-Prime Minister Lee Hsien Loong launched the TA Hub at this very site, marking the start of a journey to unite our TACs under one roof. More than just offering TACs with affordable shared facilities, services and event spaces, the TA Hub aims to build a stronger TAC community founded on the principles of mutual support and collaboration. In fact, collaboration is a consistent theme during all the TACOM meetings. In line with this vision, I am so grateful that the SCCCI set up the TACOM as a platform to tackle key challenges TACs face.

a. This is particularly important for the survival of some of the smaller TACs. For example, when COVID-19 happened in 2020, we were fortunate to have a TAC network to help share the concerns of smaller TACs which did not have secretariat teams.

b. On this note, I would like to take this opportunity to thank the SCCCI secretariat for curating the concerns of TACs back then, so that these concerns were conveyed to the relevant government agencies for follow up.

5. In 2022, we reached another milestone with the launch of the 'TA Growth Model' and 'TA Competency Framework' for the TACs. These initiatives were created with the support of Enterprise Singapore (EnterpriseSG), SkillsFuture Singapore (SSG), and the Singapore Business Federation (SBF). To recap, the Growth Model and Competency Framework helps TACs identify their gaps and needs and better attract, retain, and develop talent. By strengthening the capabilities of the TACs, they are better positioned to drive industry transformation and support their member enterprises more effectively.

6. Today, two years on, we celebrate another step forward with the opening of the new TACOM Transformation Centre. The Centre reflects SCCCI's commitment and ongoing efforts to build a stronger TAC community. Beyond just basic advisory and shared services offered by the TA Hub, the new Centre seeks to provide in-depth strategic guidance to the TACs by leveraging the plans developed through the TA Growth Model toolkit to help themimplement projects that deliver meaningful outcomes. This new Centre will also continue to enhance the secretariat capabilities of TACs in important areas such as sustainability, digitalisation, and internationalisation.

a. The secretariat is your important team. The more we can uplift them, the better they can support you in serving your members and enterprises.

7. These developments highlight the growth of our TAC ecosystem, which ultimately benefits and supports the future and growth of our enterprises.

8. The TACs play an important role of the "ABC" - advocate for members;bridge the communication; and connect the enterprise ecosystem within your sector. Your advocacy ensures that industry concerns on the ground are heard and addressed. At the same time, initiatives like the TACOM Transformation Centre empower SMEs to tackle challenges through collaboration and shared resources.

9. We heard from Prime Minister (PM) Lawrence Wong during his inaugural National Day Rally speech that he will support the SMEs, and has asked Deputy Prime Minister Gan to steer the Inter-Ministerial Committee (IMC) on Pro-Enterprise Rules Review, which we announced a few months ago. Through the IMC, we want to harness the whole-of-government to improve its regulatory agility to address regulatory pain points. We are very glad that PM Wong spotlighted this when he said "Easing the regulatory burden is part of the Government's efforts to nurture and to grow the spirit of innovation and enterprises," and that the initiatives are also part of a major reset of policies and attitudes as needed to transform the economy. That's why I'm very happy that shortly after the NDR speech, we are all here to launch the TACOM Transformation Centre. Congratulations!

10. On that note, I wantto represent the Government to express my heartfelt appreciation and gratitude to all who haveplayed a key role in making the TACOM Transformation Centre a reality, including the SCCCI, EnterpriseSG and everyone who has contributed their time and energy.

11. Allowme to saya few words in Mandarin.

尊敬的高泉庆会长，以及各位商会商团的代表们，大家下午好！

12. 很高兴今天受邀出席为TACOM转型中心（TACOM Transformation Centre）主持开幕仪式。这个转型中心，来得正是时候 -- 因为我们正处在一个科技快速发展、产品和服务日新月异的时代。因此转型，不再是一个需要不需要的问题，而是一个需要几时开始的问题。答案，当然就是越快越好。

13. 黄循财总理上个星期日，在国庆群众大会上重申，政府致力于打造一个更加亲商的环境。在这个亲商理念的大框架下，政府也将继续支持和帮助企业，尤其是中小企业积极转型，以满足未来的经济需求。所以今天成立这所TACOM转型中心，就是为了集中资源，为大家带来一站式的服务体验。

14. 中华总商会，一百多年来一直扮演着政府和企业之间，一道重要桥梁的角色，也非常了解企业的诉求。因此，不管您的企业是想踏出转型的第一步，或是在探讨转型的下一步，都应该来善用转型中心提供的专业咨询服务，为公司未来的发展，规划蓝图，为成功铺平道路。祝愿大家在未来的日子里，能够相互扶持，大展宏图！谢谢大家！

15. Thank you.

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