International expansion and exports to Singapore

Singapore as a market

With its political stability, English as the language of business, minimal risk of corruption and safe society, Singapore offers an accessible base for reaching Asia's major growth markets.

The universities and research institutions rank among the highest in the world. The ecosystem for entrepreneurship and the commercialisation of new ideas is innovative, well developed and well resourced.

The report Singapore Business Climate Survey (PDF) gives you insight into Norwegian companies' experiences of doing business in Singapore.

Nordic Innovation House

Nordic Innovation House (NIH) was established in Singapore in autumn 2018. It is a collaboration between Sweden, Finland, Iceland and Norway. The steering group comprises the organisations responsible for business development and export promotion in each country – Business Sweden, Innovation Norway, Promote Iceland and the trade section of the Embassy of Finland. The embassies also serve in an advisory capacity.

Nordic Innovation House primarily aims to support Nordic start-ups and growth companies across a range of technology sectors, including smart cities, health technology and financial technology. NIH provides a soft-landing platform where you can rent office space and receive advice on setting up your business and mentoring.

Market opportunities in Singapore

Maritime sector

Singapore is Southeast Asia's leading maritime hub and home to the world's busiest container transshipment port. This creates many opportunities for Norwegian companies to provide solutions for optimisation, digitalisation and technology upgrades.

Fintech

Singapore is a financial hub with unique access to global markets. Strategically located in the Asia-Pacific region, it offers a well-established business infrastructure, strong trade networks and a wide range of international players.

Healthcare

Singapore offers many promising opportunities for Norwegian health technology companies looking to showcase innovative products.

Demand for medical technology is growing across Asia. Technology convergence is expected to become a key driver of growth, fuelled in part by ageing populations and a rise in chronic diseases.

Singapore has a well-developed healthcare system. The country attracts patients and global companies because it offers political and economic stability, strict legislation and transparency. Growing demand for home-use medical devices and the expansion of healthcare facilities will drive revenue growth in the medical device market. Mobile apps, wearable devices and IoT will become increasingly widespread.

Renewable energy

Southeast Asia is the world's fastest-growing energy market, for both conventional and renewable energy.

Singapore's central location can provide a gateway to other South Asian markets, and Norwegian business clusters in solar power, hydrogen, maritime energy and offshore wind should explore the opportunities the country offers.

Smart societies

Singapore offers all the right conditions for building smart societies. With a digitally savvy population, a thriving startup ecosystem, access to venture capital, and public and private investment in research and development, there are significant opportunities for Norwegian companies looking to establish themselves in Singapore.