80 ASIA'S TOP ACHIEVERS Jun 2016 - Page 15

COMMITEE AND PANEL OF JUDGES

Times change. As you know, what once was may not be what it is now. Western countries are currently seeing a slowdown in employment and economic growth, resulting in economic crises within these countries and across the globe.

Economists have recently predicted that the 21st century will mark the beginning of the era that sees Asian economies soar to greater heights. Everyone knows that China has been through revolution and reform over the last 30 years, opening itself up to the rest of the world and developing rapidly in areas such as economic infrastructure, building, highways and railways.

Many aspiring businessmen and women have thus jumped on this bandwagon, hoping to make a name for themselves in this competitive Mainland Chinese market, which has a population of about 1.4 billion people.

Now is the golden opportunity for Southeast Asian countries to ascend to greater heights as well. Countries such as Vietnam, Cambodia and Myanmar have begun opening up bit by bit in the last four years, welcoming in investors to boost their economies, while opportunities remain abundant everywhere.

Singapore is renowned for its system of government, strict laws and regulations, and attention to branding and image. With a smaller population than most other countries, its market is fast moving towards saturation.

Our younger generation of Singaporean entrepreneurs should therefore expand their services to developing Southeast Asian countries and even anticipate that other countries with restricted economies will eventually open up as well. They should seize these opportunities and take their local entrepreneurship experiences overseas with them so as to become the best of the best in Asia.