{
    "success": true,
    "data": {
        "id": 1001649,
        "msgid": "spore-worries-over-shift-in-trade-strategies-1447893297",
        "date": "1994-11-10 00:00:00",
        "title": "S'pore worries over shift in trade strategies",
        "author": null,
        "source": "AFP",
        "tags": null,
        "topic": null,
        "summary": "S'pore worries over shift in trade strategies SINGAPORE (AFP): Singapore is worried that multinationals may be looking elsewhere to set up shop in Asia due to rising costs in Singapore, according to a report here yesterday. Prime Minister Goh Chok Tong, citing a conversation he had with Siemens chief executive Heinrich von Pierer last week, said the German electronics giant boss had said the company would make no further investment in Singapore.",
        "content": "<p>S'pore worries over shift in trade strategies<\/p>\n<p>SINGAPORE (AFP): Singapore is worried that multinationals may<br>\nbe looking elsewhere to set up shop in Asia due to rising costs<br>\nin Singapore, according to a report here yesterday.<\/p>\n<p>Prime Minister Goh Chok Tong, citing a conversation he had<br>\nwith Siemens chief executive Heinrich von Pierer last week, said<br>\nthe German electronics giant boss had said the company would make<br>\nno further investment in Singapore.<\/p>\n<p>\"His comments sent a chill down my spine,\" Goh was quoted<br>\nsaying by the local Straits Times daily.<\/p>\n<p>\"I fear other multinational manufacturing companies may be<br>\ncalculating like Siemens,\" he reportedly said.<\/p>\n<p>Siemens held its two-day corporate executive meeting in<br>\nSingapore last Tuesday for the first time outside Germany to<br>\nemphasize its strategic shift in operations to the Asia-Pacific<br>\nregion.<\/p>\n<p>Pierer, whose company has an international procurement center<br>\nhere, met Goh after the meeting.<\/p>\n<p>Goh said that when he asked how Singapore could prevent what<br>\nhappened to Germany from happening to it, Pierer replied: \"I am<br>\nafraid you cannot.\"<\/p>\n<p>Pierer also reportedly told Goh that Siemens would be<br>\ninvesting S$1 billion (US$670 million) over the next few years in<br>\nChina, where the cost of production was much lower and \"nothing<br>\nat all\" in Singapore.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/spore-worries-over-shift-in-trade-strategies-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}