SINGAPORE: The American Chamber of Commerce in Singapore (AmCham) officially opened its newly expanded office in Orchard on Monday (Jan 11).
AmCham said in a statement that the enhanced platform will enable it to better support its growing membership with “advocacy, insights, and connections”. The expansion also signals its confidence in the future growth of the American business community here, it said. “We look forward to using these offices as launch pad for many more decades of cooperation and success,” said AmCham chairman James Andrade.
AmCham has grown to become the largest foreign business chamber in Singapore with over 5,000 members representing more than 750 member companies, AmCham noted. Singapore is the leading destination in Asia for foreign direct investment from the United States, added AmCham. With over US$179 billion (S$258 billion), the US is the largest foreign direct investor in Singapore, it said.
US Ambassador to Singapore Kirk Wagar noted in a statement that the ties between his country and Singapore are “strong and growing, and the Trans-Pacific Partnership (TPP) will strengthen them further”. AmCham also said it anticipates that the TPP will motivate a substantial increase in trade and investment between partner countries.
Ambassador Wagar added: “The TPP… will establish rules of the road to ensure that tomorrow’s global trading system is consistent with the values and interests that the United States and Singapore share.”
Ambassador Wagar, Ms Ng Bee Kim, director-general (trade) at the Ministry of Trade and Industry, Mr Andrade and AmCham executive director Judith Fergin cut the ribbon. Ambassador-at-large Chan Heng Chee and Ambassador-at-large Tommy Koh attended the event.