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Workshop On Trade Finance Infrastructure

Outline. ICT Development

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Workshop On Trade Finance Infrastructure

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    1. Workshop On “Trade Finance Infrastructure” ICT Development for Trade Finance and Stakeholder Perspectives

    2. Outline ICT Development & Trade Role Of Government In ICT Development Singapore Government Computerisation Master Plan Tradenet & Its Role In Automated Custom Declaration Private Sector Perspective On Trade Finance & ICT

    3. ICT Development & Trade With the appropriate use of ICT, information can be gathers accurately and timely, analyzed and disseminated quickly With the advent of Internet and e-commerce, trade promotion; facilitation; transactions and payments could all be conducted virtually over a secure Internet protocol. Many countries have developed their own e-marketplace to help promote export of their raw materials and finished products.

    12. Role Of Government In ICT Development Holistic Approach in ICT Development ICT Development Incentives National Information Infrastructure Projects

    13. Holistic Approach in ICT Development Multi-Agency approach in Singapore Economic Development Board Infocomm Development Authority Inland Revenue Authority of Singapore Monetary Authority of Singapore Productivity and Standards Board Trade Development Board

    14. ICT Development Incentives Local Enterprise Technical Assistance Scheme (LETAS) Training Assistant Schemes Approved Cyber Trade Scheme (ACT) Aim to facilitate e-commerce activities Approved cyber traders will be taxed at concessionary rate of 10 percent on income derived from e-commerce trading activities for 5 years

    15. National Information Infrastructure Projects Telecommunication Infrastructure Internet Infrastructure e-Government ICT industry development Securities & Standards E-Commerce ICT literacy and training development

    16. NII Projects in Asia-Pacific Region Australia: Towards an Australian Strategy for the Information Society Canada: The Canadian Information Highway Indonesia: Nusantara-21 Korea: Korean Information Infrastructure (KII) Malaysia: Multimedia Super Corridor (MSC) Singapore: IT2000: A Vision of an Intelligent Island Thailand: IT2000: Thailand IT Policy into the 21st Century Japan: Reforms toward the Intellectually Creative Society of the 21st Century

    17. IT Strategies in Asia-Pacific Region Singapore: Infocomm 21 Masterplan Indonesia: ICT Policy Framework: Action plan Malaysia: National IT Agenda India: IT Action Plan (IT for ALL by 2008) Korea: Cyber Korea 21 Hong Kong: Digital 21 Strategy Philippines: IT21 Thailand: IT2010 Japan: “e-Japan” Strategy

    18. Major Items of IT Strategy of ASEAN Countries

    19. E-commerce opportunities for LDCs Diaspora market Teleservices Data processing, software development, Web design and maintenance, call centers Solutions: Secure servers and online payment facilities in third countries Progressively create consumer trust

    20. E-commerce opportunities for LDCs: case of Bangladesh Potential: 1300 computer sc. graduates 12,000 IT-related graduates per year Constraints: poor telecom and banking infrastructure, poor reputation, lack of international marketing network, limited capacity Aim: 2 billion $ in software dev. (2008) India: now 6 billion, aim at 50 billion (2008) Policies: telecom liberalization, IT export promotion, FDI friendly

    21. E-commerce in China Impressive growth rates: Internet users double every 6 months Mobile phone subscribers increase 88% per year Enormous market potential: 121 mill. mobile subscribers 2001 (largest market) 27 mill. Internet users (2% of pop.) 2001 68 mill. Internet users (5% of pop.) 2005

    24. Singapore Government Computerisation Master Plan

    25. National Computerization Plan (1980-1985) Improving public administration through the effective use of IT Focused on automating traditional work functions, reducing paperwork and escalating the deployment of IT in the Public Service. Became a catalyst for the widespread acceptance of IT, nurturing of national IT capabilities and created demand for the budding local IT industry.

    26. The National IT Plan (1986-1991) Shifted to the provision of one-stop services through cross-agency linkages. Resulted in award-winning networks such as Tradenet, LawNet and MediNet.

    28. IT2000 (1992-1999) To position Singapore as a global IT hub. Improving the quality of life in Singapore, boosting the economic engine, linking communities locally and globally and enhancing the potential of Singaporeans. The Singapore ONE broadband initiative catalyzed the delivery of interactive, multimedia applications and services to homes, businesses and schools throughout Singapore.

    29. Infocomm 21 (2000-2003) To develop Singapore into a global Infocomm Capital with a thriving and prosperous e-economy and an infocomm-savvy e-society. The first e-Government Action Plan was a key initiative in setting the implementation of Infocomm 21 in motion.

    30. Connected Singapore (2003-) Bringing together the power of computing, communications and content, to create new business opportunities, consumer value and cultural experiences. Second e-Government Action Plan will leverage infocomm to delight customers, and connect citizens.

    31. Tradenet & Its Role In Automated Custom Declaration

    32. What is Tradenet Electronic Data Interchange (EDI) system that allows computer-to computer exchange of inter-company business documents Reduces 20 over trade documentation forms into a single online form and also the time involve to as little as 15 mins Utilize software run on IBM mainframe computer owned and operated by Singapore Network Services Pte Ltd Links via Telephone dial up or leased lines all members of the trading community

    33. A Committee on National Computerization(CNC) was established to develop specific recommendations on ways Singapore could pursue a future in the IT field EDB and TDB brought together a disparate group of influential interests and obtained agreement on building technical support, and streamlining procedures and protocols of various agencies. Stages in development of Tradenet

    34. Tradenet Steering Committee was created to oversee the process TDB began experimenting with a prototype online system called TradeDial up which allowed traders to dial in and complete trade forms online In 1986, BG Lee, then Minister of Trade and Industry announced publicly the Tradenet project Stages in development of Tradenet

    35. Mar 1988 Singapore Network Services Pte Ltd was created to own and operate the Tradenet system First transaction on TradeNet was a shipping application submitted on 1 Jan 89, approval was returned 10 mins later Now, Tradenet has migrated to Internet, Tradenet21 Stages in development of Tradenet

    36. Significant savings which accrue from reducing the burdens of trade documentation Reduces 20 over trade documentation into a single online form to serve nearly all trade documentation needs in Singapore Turnaround time for processing was reduced from 2-4 days to as little as 15 mins Reduced trade documentation processing costs by 20% Freight Forwarders reported savings of 25%-35% in handling trade documentation Advantages of Tradenet

    37. Private Sector Perspective On Trade Finance & ICT Government Support in Private Sector Development Developing The Capital Market Impact of E-Commerce on Trade & Trade Finance

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