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It pays to be creative. Minister of State for Finance and Transport Mrs Lim Hwee Hua underlines creativity as one of the key strategies in dealing with hard numbers in the IMF-World Bank Annual Meetings. In her speech titled 'Singapore 2006 IMF-World Bank Annual Meetings: A Report Card', delivered at the IPS Corporate Associates Lunch last 23 October, the MOS elaborated on five issues, tagged as 'key learning points' in conceptualizing, managing and administering to the biggest event that ever took place in Singapore. 'As it turned out, the Annual Meetings was five times larger than the 1996 WTO Ministerial Conference that was held (here) in Singapore. Due to the complexity, size and scale of S2006, the event required a concerted and coordinated effort from the whole of the government to ensure that the Meetings proceed smoothly' states Mrs Lim who was the minister- in -charge of the event.
Over lunch, she provided more detailed information on the event, and how it was managed-- from the organizer's stand point. She touched on the organizing committee's call for sponsorship from the local business community to ease the government from already overhanging costs. Initially, this effort has not been met with much enthusiasm, as they have later on realized that IMF-World Bank has a rather tightened up policy on some luxury items which may represent inconsistency with each organization's poverty alleviation mission. What the ministry did in response was to be creative enough to strategically position and label such activities a as partnership programme by the host government to create involvement in the private sector. This win-win strategy, Lim identifies, 'resulted to a major reduction of cost, and paved way for local companies to showcase their products and services'. And not only that, the state minister reported millions of income generated in key industries working for the event, an estimated 10 million alone through financial institutions, 110 million out of business opportunities awarded to private sectors, 50 million from tourism receipts, 3 million from vehicle rental companies and the like. Certainly, the success of the event has been felt by everyone. 'Although the event was regarded by many as successful, S2006 has definitely left us with many issues to consider and important lessons to be learnt.'
Download a copy of the speech from here  . |
