Sign up | Log in



Home  >>   Daily News  >>   Singapore News  >> Economy  >> Singapore's pro-business environment helps firms succeed
NEWS UPDATES Asean Affairs   30 October 2013  

Singapore's pro-business environment helps firms succeed

Singapore may not be the cheapest place to do business, but the country’s efficiency, predictability and high standards still make it a natural gateway for companies looking to expand in Asia, said Minister for Trade and Industry Lim Hng Kiang.

Mr Lim was speaking to French and Singaporean business leaders at a seminar in Paris on the sidelines of Prime Minister Lee Hsien Loong's official visit to France.

In a competitive global marketplace, Singapore's promise to those looking to Asia is that it will always be a pro-business environment that helps companies succeed.

Mr Lim elaborated: "Singapore is entering a new phase. As our economy matures, we expect slower but qualitatively better growth. Singapore continues to welcome talent and investments, while being mindful of our physical and social constraints."

Another plus is Singapore's extensive trade links, which can connect companies to markets around the world.

The European Union-Singapore Free Trade Agreement (EUSFTA), which was finalised in September, could be ratified soon.

Consumer goods and food producers account for more than one quarter of French exports to Singapore.

Their market position could be strengthened when the EUSFTA comes into force, as it is expected to improve the protection of intellectual property rights.

But whether the agreement will increase prices of already expensive products, Martin Yuoon, assistant executive director of Singapore Business Federation, said: "I don't think it will raise the price.

"It will probably give the products better protection, give them more marketing edge, rather than take the opportunity to raise the price. I think the price is all down to demand and supply."

Singapore companies stand to benefit too.

In all, the free trade deal is expected to boost Singapore’s exports to the EU by an estimated US$480 million a year.

Singapore is France's third largest trading partner in Asia, after China and Japan.

Bilateral trade between the two countries hit an all-time high of US$15.6 billion (S$19.2 billion, 11.3 billion euros) in 2012.

Singapore is also the second most popular Asian destination for French investors; their investments in the city total some US$9 billion (S$11 billion, 6.5 billion euros).

With Singapore’s investments in France remaining "modest", Mr Lim said there are opportunities for Singapore firms to do more in this mature market.  

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories   30 October 2013 Subsribe Now !
• Malaysia's proposed fiscal reforms credit positive step: Moody’s Subcribe: Asean Affairs Global Magazine
•Jakarta, Karawang and Bekasi no longer attractive investments Asean Affairs Premium
• Singapore's pro-business environment helps firms succeed
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Vietnam trade makes further forays into Italy
• VRG sets $1.17b revenue goal for 2013
Asean Analysis          28 October  2013 Advertise Your Brand
• Asean Analysis- October 28, 2013
The future of Laos
Asean Stock Watch     29 October  2013
• The Biweekly Update 18 October 13 • Asean Stock Watch-October 29

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand