Singapore will make further efforts to help entrepreneurs grow stronger and bigger and ultimately expand overseas, Minister of State for Trade and Industry Lee Yi Shyan said at a press briefing Friday.

"If we can grow the pool of entrepreneurial companies, Singapore will be more attractive to the best global companies in terms of support services and even become their sources of innovation," Lee said.

Noting the significant contribution made by small and medium sized enterprises (SMEs) to the country's economic growth, Lee said that the Action Community for Entrepreneurship (ACE) will work on "improving the access to international market opportunities for local enterprises."

He hoped that Singapore would become an attractive node for local and foreign entrepreneurial talents and have entrepreneurs who constantly re-invent themselves to pursue new business opportunities.

Established in 2003, the ACE is a private sector-led and government-supported organization to promote entrepreneurship in the city state and facilitate financing for start-ups and SMEs.

Source: Xinhua