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15 Feb 2005
Speech by Mr Teo Ming Kian, Chairman, Singapore Economic Development Board, at the grand opening of Koei Entertainment Singapore on 15 February 2005
Mr and Mrs Erikawa
Distinguished guests
Ladies and gentlemen
Good morning
- Let me first wish everyone a very happy and prosperous Year of the Rooster.
- I am especially delighted to be here today for the opening of Koei Entertainment Singapore. Koei is a renowned brand name in Japan. But it is also very much a globally known company. Its many popular games like 'Romance of the Three Kingdoms' and 'Dynasty Warriors' already have a significant following among online gamers the world over. With the establishment of its presence in Singapore, Koei is fulfilling its ambition to become a truly global company.
- Koei started to seriously consider Singapore as its base to globalise some two years ago. With the foresight of its Chairman, Mrs Erikawa, it took in Singaporeans for training at their studios in Japan. Now two years on, Koei has affirmed its faith in Singapore by establishing its first game development studio outside of Japan here. Thank you, Mr and Mrs Erikawa for this decision.
Major Milestone for Singapore's Media & Digital Entertainment Industry
- Today's opening is as much a major milestone for us as it is for Koei, for this will be Singapore's first major PC game development studio. Its presence will add further vibrancy to Singapore's dynamic media and digital entertainment ecosystem and reinforce our position as the Asia-Pacific media hub.
- Koei's new studio follows closely on the heels of digital media project announcements made last year. Following on Lucasfilm's plans to set up its studio in Singapore, which also has a games development component, Singapore won the bid to host the 2005 Grand Finals of the World Cyber Games. The Games Creation Community was also set up to help incubate game development companies.
- These announcements have come in quick succession, as a clear testimony to how rapidly the games industry in Singapore is developing. They also reflect how fast the games industry is growing globally and how significant Asia Pacific has become in the global games marketplace.
- Analysts have estimated that the global games industry will reach US$55.6 billion by 2008. Of this, the Asia-Pacific online games market alone - valued at US$630 million in 2003 - is projected to hit a staggering US$7.5 billion in 2008.
- Singapore certainly hopes to capture its share of the global games pie. Our business-friendly environment, global telecommunication connectivity, strong intellectual property laws and vibrant media and digital entertainment ecosystem make us increasingly attractive to electronic games companies.
EDB Committed to Growing Creative Talent in Singapore
- Talent is key to this industry, and we will continue to invest in talent development. EDB has already forged training partnerships with some of the strongest names in the games business. Over the last two years, more than 50 individuals have benefited from training stints in companies like Koei, Sega and Capcom in areas such as games development, graphic design and animation for games. We will be sending more people for such training stints and working closely with Singapore's tertiary institutions to ensure that curriculum remains relevant to industry needs.
Games Incubator - Singapore's Unique Community Approach to Developing the Industry
- To build up a vibrant industry, we will also nurture Singapore-based games development companies through platforms like the Games Creation Community, or GCC.
- The GCC is Singapore's unique approach to growing this industry. It brings together a wide range of partners, from game developers, console makers, distributors, industry associations to middleware suppliers, publishers and venture capitalists. It also provides access to software development kits and creates a highly conducive environment for local start-ups to grow, innovate, test-bed and commercialise their products. Housed within Nanyang Polytechnic, it currently has 28 players. This year, we will see yet more partners joining the GCC and new activities like game pitching and technology-sharing sessions introduced.
Strongest IP Protection in Asia for Games Developed Here
- Particularly important for game development companies such as Koei is strong intellectual property rights, or IPR, protection. In this, Singapore was ranked No. 1 for having the lowest IPR risk in Asia from 2002 to 2004 by PERC. This surely is good news to games development companies intent on developing IP for international markets. Together with the US-Singapore Free Trade Agreement which aligned Singapore's IP protection regime with that of the US, Singapore now has the strongest IP protection regime in Asia.
Conclusion
- Moving forward, EDB will continue to attract key players to locate here by building on Singapore's strengths. We will also work towards doubling the media sector?s GDP percentage contribution from 1.5% to 3 per cent by 2012.
- The digital animation and electronic games sectors will open up many new career opportunities for graphic artists and computer programmers. They will provide new opportunities to people with a different bent - the more artistic types, and those able to combine art and technology. As we develop these sectors, we have uncovered many people with such hidden talent. In turn, they will be a key asset for us to develop this industry.
- We are delighted that Koei has decided to be a part of this burgeoning digital media landscape. I look forward to seeing yet another blockbuster title by Koei - this time developed on our shores.
- My heartiest congratulations and best wishes to the management and staff of Koei. Thank you.
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