Utah Governor Appoints Honorary Trade and Investment Representative While Visiting Singapore and Vietnam

October 10, 2017 (PRLEAP.COM) Business News
SALT LAKE CITY, UTAH A recent trade mission of Utah leaders to Asia helped strengthen business ties with foreign counterparts in business and government, along with potentially opening doors for future partnerships and opportunities for U.S. businesses.

In late August, Utah Gov. Gary R. Herbert headed a delegation to Vietnam and Singapore that included representatives from the Governor's Office of Economic Development, World Trade Center Utah plus many prominent business and government officials from the state.

The visitors spent a week visiting significant sites in both countries and attending various receptions and meetings with local leaders. Delegation members also attended presentations and seminars about different market sectors and business opportunities in the region, which were provided by local organizations as well as representatives from the U.S. Commercial Service. The U.S. Commercial Service also tried to connect delegates with potential business partners, distributors and agents.

Both the Republic of Singapore and Vietnam have strong potential for significant economic growth with the State of Utah. Singapore has been rated No. 1 globally by the World Bank for ease of doing business, and Vietnam is considered one of the fastest growing export destinations.

Gov. Herbert also had the opportunity to visit with Singapore Prime Minister Lee Hsien Loong. Several other dignitaries were also invited to the U.S. Embassy for a reception and opportunity to socialize with local business leaders and political representatives.

One direct result of the increasingly strong ties between Utah and the host countries was the appointment of V.B. Balrai Singh as an Honorary Trade and Investment Representative to the State of Utah.

Balrai Singh, a Singapore resident and longtime businessman, has maintained economic ties with Utah for the past 18 years. In addition to international boards he sits on, Mr. Singh is an advisory board member to Utah-based company Reflect Scientific Inc., a provider of products and services for the biotechnology, pharmaceutical and transportation industries.

Mr. Singh has established strong business relationships throughout Asia and other markets, and either chairs, oversees or is an advisor to a number of successful companies worldwide. He's currently the Chairman of Eng Sing Lee Investments a firm he started with the former Singapore Minister of State and Ambassador to six countries, Lee Khoon Choy.

This is the first time Utah has bestowed this honorary title on anyone, and Mr. V.B. Balrai Singh indicated that he is looking forward to representing and promoting Utah trade and investment opportunities through the Asian Pacific region.

The growing partnerships between Singapore and the State of Utah were assisted by The Summit Legacy Group, a consulting firm that helps companies expand into the Asian region.

The successful trade mission was organized by World Trade Center Utah, an organization that focuses on guiding Utah companies into profitable global markets and also boosts the state's global community. In addition to business services, trade missions, networking and education, the WTC also offers market intelligence reports with data available from more than 330 WTC organizations in countries worldwide.

The Governor's Office of Economic Development has a similar collaborative role in fostering growth and expanding global partnerships.

Gov. Herbert and the WTC Utah are also planning ahead for a trade mission to Israel and Jordan in late October of this year.

For more information about future opportunities visit wtcutah.com/singapore-vietnam-2017/

About World Trade Center Utah (WTC Utah)

The mission of World Trade Center Utah (WTC Utah) is to help Utah companies think, act and succeed globally. WTC Utah accomplishes this mission through three key objectives. First is to motivate and educate Utah businesses to expand their global presence through training seminars, regional forums and newsletters focused on international business development, trade issues and export opportunities. Second is to build capacity of Utah businesses for international trade through B2B consultations to identify expansion goals, assess current capabilities, determine overseas opportunities and connect companies with market experts and potential partners. Third is to expand global network of Utah businesses through trade missions and networking with foreign trade officials.

About the Utah Governor's Office of Economic Development (GOED)

The Governor's Office of Economic Development (GOED) charter is based on Gov. Gary R. Herbert's commitment to statewide economic development. The state's economic vision is that Utah will lead the nation as the best performing economy and be recognized as a premier global business environment and tourist destination. GOED provides extensive resources and support for business creation, growth and recruitment statewide, as well as programs to increase tourism and film production for the benefit of Utah residents. All administered programs are based upon strategic industry clusters to develop a diverse, sustainable economy. GOED accomplishes its mission through unprecedented partnerships. For more information please contact: Aimee Edwards, (801) 538-8811 or edwards@utah.gov.

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