Doing Businessin Singapore
Asian Market Insights
Singapore is not just one of the most advanced free-market economies within the 10-member Association of Southeast Asian Nations (ASEAN), it is also one of the most politically stable countries in Asia.
However, the Covid-19 pandemic has created a new set of challenges for doing business with Singapore.
Enterprise Ireland is responding to the global crisis by working with Irish exporters to help them avail of business response supports announced by the Government. These supports are designed to help businesses stabilise and adapt to the evolving situation, in preparation for getting back on the road to recovery.
While Singapore’s domestic market is relatively small, a high-level of state intervention in the economy has powered the city state’s growth and positioned it as Southeast Asia’s most attractive destination for regional corporate headquarters. This has also been aided by a regulatory environment which is not only pro-business and free trade but also committed to ongoing optimisation.
Singapore is a favourable gateway for Irish exporters into the nine other members of ASEAN – Malaysia, Indonesia, Thailand, Philippines, Vietnam, Myanmar, Cambodia, Laos and Brunei. With a population of 661.5 million, the scale of ASEAN’s marketplace is matched only by the diversity of its economies.