A regional manufacturing alliance called the Southeast Asia Manufacturing Alliance (SMA) has been launched to help businesses grow their footprint in South East Asia and diversify their supply chain. The alliance is a tripartite agreement between Singapore’s Economic Development Board (EDB), Enterprise Singapore (ESG), and private sector partners. SMA’s first three Strategic Partner companies are CapitaLand, Sembcorp Development, and Gallant Venture. Collectively, these companies operate over ten industrial parks across Malaysia, Vietnam, and Indonesia, where there are strong fundamentals, with a large consumer base and a young labor force.
According to the official media statement, for small and medium-sized enterprises (SMEs) and suppliers based in Singapore, SMA will offer connections to manufacturers in the participating industrial parks. For global companies, SMA enables them to tap into South East Asia’s ecosystems to mobilize capital, aggregate talent, and protect intellectual property.
Dr. Beh Swan Gin, Chairman of EDB, said: “South East Asia is an ideal manufacturing location for companies looking to strengthen the resilience of their supply chains and reduce reliance on a single source. The Southeast Asia Manufacturing Alliance will make it easier for manufacturers to learn about the advantages and strengths of the participating industrial parks and their respective ecosystems, and simplify the process for companies to establish their operations there.”
Companies that are interested in expanding their businesses in both Singapore and the broader Southeast Asia region through the SMA program can contact [email protected] for more details.
(Sources: Singapore Economic Development Board; Singapore Business Review; The Straits Times)