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New SICC chief stresses need for S’pore firms to expand overseas

Businesses here need to expand overseas because the local market is too small, said Mr Victor Mills, the new chief of the Singapore International Chamber of Commerce (SICC), adding that firms also face difficulties in finding enough talent, while employee attitudes are worsening.

Businesses here need to expand overseas because the local market is too small, said Mr Victor Mills, the new chief of the Singapore International Chamber of Commerce (SICC), adding that firms also face difficulties in finding enough talent, while employee attitudes are worsening.

“I think expanding into the region is a necessity for businesses in Singapore, simply because our domestic market is so small, so it’s not going to sustain growth for businesses over the long term,” said Mr Mills, who was appointed yesterday.

“The challenges that all businesses face are getting enough talent and, with the existing talent they have, encouraging that talent to take on overseas assignments to grow in their careers and become more relevant to their business. And so when they return to Singapore, they can be in the running for top jobs. So, that’s a big challenge for firms large and small,” he said.

“This is something we as a chamber encourage, in order to come up with practical solutions that will help our local talent to excel and get the senior jobs,” added Mr Mills.

However, he said: “Another aspect is looking at employee attitudes which, due to our tremendous economic success in the past 50 years, have become a little too fussy. Firms large and small complain about this.” TAN WEIZHEn

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