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Source:
www.mnd.gov.sg |
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SPEECH BY MR MAH BOW
TAN,MINISTER FOR NATIONAL DEVELOPMENT, AT THE UNVEILING OF THE
MARINA BAY FINANCIAL CENTRE, 5 OCTOBER 2006 |
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An Excerpt |
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The MBFC is a milestone in the realisation
of our vision for Marina Bay. It is a strategic piece of the mosaic of
developments planned for the area. |
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The MBFC, together with the nearby office
developments, will offer prime office space to cater to financial
institutions and global businesses. |
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Marina Bay will soon become a seamless
extension of our Central Business District (CBD), humming with business
and activity, and sizzling with entertainment ¨C 24/7 when the Marina Bay
Sands and the Gardens by the Bay take shape. |
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The Marina Bay Residences within the MBFC,
The Sail @ Marina Bay and One Shenton Way will also showcase prime
high-rise, inner-city living. |
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The private sector has so far committed
about S$9 billion[1] worth of investments to Marina Bay. |
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The Government is investing another $2
billion in infrastructural developments for Marina Bay to support
private development. The MBFC will be an important contribution to the
success of Marina Bay. |
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MBFC ¨C A KEY DRIVER OF SINGAPORE¡¯S
FINANCE SECTOR |
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The significance of the MBFC goes
beyond our vision for Marina Bay. The MBFC is a strategic step to
ensure that Singapore remains a major player in the global banking
and financial arena. |
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Singapore is already well established
as a key financial centre, with more than 200 banks based in
Singapore. A total 7,700 jobs were created in the financial
services sector in Singapore last year. |
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In the first quarter of this year, the
finance sector grew by more than 8%, adding another 2,000 jobs. |
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We have just played host to the annual
meetings of the IMF and World Bank. In the past few months, a
number of international banks have announced their intention to
make Singapore their regional headquarters. |
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Credit Suisse, Barclays, Merrill Lynch
and Royal Bank of Scotland have all announced their intention to
strengthen their presence and expand their operations here. |
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All these are strong endorsements of
Singapore¡¯s favourable banking and business environment. |
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The development of the MBFC serves to
further entrench and strengthen Singapore¡¯s status as a financial
hub. |
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The first phase of the MBFC will
comprise about 244,000 square metres of Gross Floor Area for
office space, residential apartments and retail facilities. |
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It is well positioned to meet the
growing demand for prime office space in the CBD over the next 10
years, and providing employment for many thousands of people... |
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Full Text of Speech |
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Source:
www.mnd.gov.sg News Release 5
Oct 2006 |
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FrontPage Edition: Mon 9 October 2006
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