Market Expansion into Singapore

Singapore is a small, multi-cultural and cosmopolitan city-state at the very heart of Southeast Asia, with one of the highest per capita GDP in the world. The economy was valued at USD 356.9 billion in 2019. 

The country has pursued an outward-looking, export-oriented economic policy that encourages a two-way flow of trade and investment. This has enabled Singapore to become a global trading hub with a trading capacity almost three times its GDP.

Major industries include electronics, financial services, petrochemicals, pharmaceuticals, biotechnology, food and beverage, aerospace and ship repair. Singapore has also become an important financial, trade and wealth management hub for the Southeast Asian region and a global hub for currency and commodity trading, transshipment and oil and gas refining.

Singapore has some of the world’s finest infrastructure, including sophisticated telecommunications networks, extensive public transportation, well-managed healthcare and education, and modern air and seaport facilities.

It is considered to be a strategic starting point for global enterprises seeking business opportunities in Asia. The number of foreign companies that have set up a presence in Singapore is a testament of the strong business confidence that foreign investors have in country 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 2019, 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.