Market Expansion into Singapore

Singapore, a vibrant, multicultural, and cosmopolitan city-state nestled at the heart of Southeast Asia, boasts one of the world’s highest per capita GDPs. As of 2024, its economy was valued at USD 545 billion, reflecting its continued growth and resilience as a global economic powerhouse.

The nation has long embraced an outward-facing, export-driven economic strategy that fosters a dynamic two-way flow of trade and investment. This approach has solidified Singapore’s status as a premier global trading hub, with a trading volume nearly triple its GDP, underscoring its pivotal role in international commerce.

Singapore’s diversified economy encompasses key industries such as electronics, pharmaceuticals, biotechnology, food and beverage, aerospace, and ship repair. Notably, the semiconductor sector contributes around 7% to the nation’s GDP, with over 60 semiconductor companies holding an 11% share of the global market. Singapore has also emerged as a leading financial, trade, and wealth management center for Southeast Asia, establishing itself as a global leader in currency and commodity trading, transshipment, and oil and gas refining.

The city-state’s world-class infrastructure further enhances its appeal, featuring cutting-edge telecommunications networks, an efficient public transportation system, top-tier healthcare and education services, and state-of-the-art air and seaport facilities. These assets make Singapore a standout on the global stage.

Widely regarded as a strategic launchpad for businesses eyeing opportunities across Southeast Asia, Singapore continues to attract a growing number of foreign companies. Their presence reflects the robust confidence that international investors place in the city-state as a regional business hub.

Orissa International arranged a series of business matching meetings for a Canadian engineering and fabricating tower solutions provider that supplies frangible towers to airports, militaries, and government agencies worldwide. Our client participated in Inter Airport South East Asia, an international exhibition for airport equipment and technology, that was held in Singapore. We identified 15 potential partners, pre-qualified their interest, and arranged seven meetings for the company. Potential buyers and partners it met with at the event included the operators of Singapore’s airports, engineering consultants, solution providers for airports, and importers of aircraft equipment and supplies, including aeronautical equipment.

Orissa International helped a US-based company selling seafood to enter the Singapore market. Our client, a manufacturer of frozen crab cakes and stuffing as well as lobster, salmon and crawfish cakes, produces in the US and exports to multiple markets around the world. To assist our client, Orissa International researched and identified a list of 16 prospective seafood importers in Singapore, and pre-qualified their interest to represent the client. The shortlisted companies included some of the largest wholesalers and importers of chilled and frozen premium seafood in Singapore, with an extensive distribution network in both the grocery retail and horeca (hotels, restaurants, catering) channels.

Orissa International conducted a market study on ICT sector developments and opportunities in Singapore for the EU Gateway | Business Avenues Program in South East Asia. The program is an initiative funded by the European Union to help European companies establish business collaborations in the region through matchmaking and business support services. This report included an overview of information technology (IT) equipment, software and services, as well as telecommunications equipment and services. It covered traditional areas such as IT infrastructure, enterprise software and consulting, along with emerging technology areas such as artificial intelligence, Internet-of-Things (IoT), blockchain, augmented reality/virtual reality.