For a full decade, Singapore has held on to the top spot of the World Bank's ranking of the best places to do business.
Situated strategically in the heart of Southeast Asia, its sound infrastructure, strong economy and business-friendly laws
enable it to offer to companies great opportunities for business development and set-up.
A highly conducive environment for businesses
A few numbers
Source: Department of Statistics Singapore – Latest statistics here
Presenting many business opportunities
France and French Companies in Singapore
Singapore is France's largest trade partner in the ASEAN region (Association of Southeast Asian Nations) and third largest in Asia, after China and Japan.
The image of France is well-received in Singapore; the French label is present across various sectors and it connotes quality in products, in our luxury brands for instance, reliable expertise, among our engineers and technicians for instance, and enduring tradition and reputation, in our schools and gastronomy.
Singapore receives a sizeable amount of French investments, and ranks fourth in Asia. Many multinational companies and SMEs have chosen to set up in Singapore and today, there are 700 companies and 200 French entrepreneurs across various sectors, from IT to tourism, aerospace, electronics, biomedical, perfumery, cosmetics, food processing, catering and distribution. French companies have proven themselves in the market here and there is still a great amount of room for new ventures.
Singapore as a "Smart Nation"
Because of its high population density and limited space and resources, the Singapore government started work very early on in becoming a Smart City: it has taken many steps to improve the quality of life in the city and promote economic development by centralising governance and utilising 'big data' and collaborative solutions.
GPS sensors have been integrated in taxis to enable them to observe real-time traffic; a 23-point biodiversity index has been adopted, one that has been used by fifty major cities around the world; an innovative method of desalination has been developed to allow the country to not only tackle water shortage, but develop a strategic opportunity. Singapore shines in the region for the quality of its infrastructure, in which it has been investing increasing amounts ($13 billion between 2011 and 2015, 20% more compared to 2006-2010).
The forecasts of population growth (from 5.4 to 6.9 million inhabitants in 2030) connote many opportunities to come, in the sectors of housing, transport and energy for instance, for which the government has set ever higher targets for 2030: 80% of buildings to be certified Green Mark, 75% of peak-hour journeys to be made by public transport, 35% improvement in energy efficiency, etc.
Investors' Choice for R&D and Intellectual Property
Consistently ranked as one of the countries with the most favourable environment for innovation and entrepreneurship, and with a volume of expenditure in Research and Development (R&D) estimated at 2.3% of GDP, Singapore is an increasingly important platform - the first in Southeast Asia - for product development and innovation. The government defines strategic guidelines and is proactive in implementing incentives to achieve its targets. Among its objectives for the next decade, R&D and Intellectual Property (IP) holds a very important place. Indeed, the goal is to build a state where the main resources are knowledge and innovation. Protecting this wealth implies protecting intellectual property, and Singapore wants to become a leading platform for Intellectual Property in Asia.
A hub to reach the rest of Asia
Setting up in Singapore is often the first step to expanding in Asia:
- The geographical position is strategic
- Singapore is an important logistics platform in the international market: its port is the second-busiest in the world in terms of total shipping tonnage, after Shanghai
- It is easy to move around in the region: Singapore's Changi Airport has been consistently ranked first in the world in terms of passenger satisfaction, and also in terms of infrastructure and services according to the Skytrax World Airport Awards 2016.
- English is the official language, facilitating easy access to the Singapore market; the other three official languages (Mandarin, Malay and Tamil) facilitate interregional trade to the larger markets around the country.
Fiche Singapour (in French)
Guide Réussir à Singapour (in French)
Your Partner in Singapore
With nearly 40 years of experience, the French Chamber of Commerce in Singapore is able to support you across the different steps of business set-up and development in Singapore.
Our Range of Business Support Services
Our team of experts are at your service, contact us to find out how we can help you set up in Singapore!