Clause 4

The functions of the Board are —

to stimulate the growth, expansion and development of Singapore’s economy by promoting Singapore as an international total business centre;

to formulate investment promotion policies and plans, promotional incentives and marketing strategies to attract foreign and local investments in advanced technology industries and skill-intensive services which enjoy good export market prospects;

to promote, facilitate and assist in the development of support industries and services which provide important parts, components and related services to the manufacturing sector;

to encourage foreign and local industries to upgrade their skill and technological levels through investment in new technology, automation, training, research and product development activities;

to support the development of local entrepreneurs and small and medium business enterprises and assist local companies to expand and upgrade their operations;

to provide training in new skills required by the manufacturing, business and technical services sector; and

to identify and encourage key companies to establish their international operational headquarters and undertake a wide range of regional service and business activities in Singapore.(2) For the purpose of subsection (1)(a), “international total business centre” means a centre which facilitates and encourages the development of all forms of business activities in areas of design, production, marketing and distribution and all types of corporate services.”.