from the ground Up

July 16 2009

They can thrive in banking and finance sectors, says minister

WOMEN feature prominently in small and medium-sized enterprises, but they can shoot higher for the chief executive’s job in bigger firms, said Minister of State for Community Development, Youth and Sports Yu-Foo Yee Shoon yesterday.
“We want to see more women as CEOs,” she said, adding that they should play an active role, even in multinational companies.
The minister told a briefing, for a conference to be held here next month, that banking and finance are sectors in which women can thrive, especially in the Asia-Pacific Economic Cooperation (Apec) region.
But even as women pursue careers, it is important for them to fulfil their familial roles and this is where information and communications technology (ICT) can give a helping hand, she added.
“Women should embrace IT to help them communicate with the workplace, even if they have to stay at home,” said Mrs Yu-Foo.
Issues such as women in businesses and their role in an increasingly ICT-centred world are just two of the topics that will be tackled at a forum next month in the lead-up to the Apec meeting here in November.
Women leaders in business and other fields from around the globe will be attending the event, an annual platform for promoting the participation of women in economic and trade-related activities.
“This meeting will enable women leaders in the Apec region to network and share with each other their insights and experiences in the various sectors of their respective economy,” said Mrs Yu-Foo, who was speaking at the pre-event briefing.
The minister cited five areas for discussion: sustainable development; women in business; women in knowledge economy; women in tripartism and social enterprise; and work-life harmony.
The forum at the Raffles City Convention Centre will form policy recommendations that will be presented to the main Apec ministerial meetings for consideration.
Visiting delegates will also get a dose of local hospitality during the event on Aug 4 and 5.
Lunches and dinners will be hosted by a range of notable women, including Singapore’s first woman minister, Minister in the Prime Minister’s Office and Second Minister for Finance and Transport Lim Hwee Hua, Senior Minister of State for National Development and Education Grace Fu, and Mrs SR Nathan.
Yesterday’s briefing pointed to some of the issues that will be addressed at the forum, known as the Women Leaders’ Network (WLN) Meeting.
SingTel chief executive Chua Sock Koong, one of Singapore’s most prominent woman CEOs, said there are no barriers for women to achieve the same positions as men in the workplace.
“In this global war for talent, no country or organisation can afford to ignore the female population,” said Ms Chua, who will chair the WLN meeting.
SingTel, for example, has flexible working arrangements for female executives who have family obligations, she said.
Mrs Yu-Foo also pointed to ways that women might fulfil their multiple roles at work and at home, including using ICT.
Walking the talk, she announced at the briefing yesterday that ICT will be employed to link delegates from South Korea to the event by video-conferencing for part of the forum.
It will be a first for the event, and will enable female staff and students of Sookmyung Women’s University to listen and interact with the forum in real time.
In addition to the WLN event, Singapore will host a separate Apec digital forum for women on Aug 3, which hopes to enhance the role of women in the ICT sector.
The first WLN meeting was held in Manila in 1996. It is hosted each year by the country hosting the Apec summit.