The best prospects sectors for Singapore include electronic components, aircraft and parts, electronics industry production/testing equipment, laboratory and scientific instruments, pollution control equipment, electric power systems, construction equipment and building products, pumps and valves, medical devices, telecommunication equipment and computer hardware and software, university education services and franchising. CLICK on the links below for market information on some of the sectors.
- EDUCATION SECTOR: International Student Recruitment Opportunites In Singapore
- HEALTHCARE & BIOMEDICAL SECTORS: Singapore -The Biopolis of Asia
- IT SECTOR: Information Technologies Market In Singapore
- TELECOMMUNICATIONS SECTOR: Telecommunications Market In Singapore
- POWER GENERATION IN SINGAPORE
AIRCRAFT AND PARTS (AIR)
Overview
Singapore leads the rest of Asia in aircraft maintenance, engine
repair, component repair and overhaul capabilities. It is
well placed to maintain its leadership position to capture a
larger slice of the $40.8 billion global commercial maintenance
repair and overhaul (MRO) market, which is expected to grow at
3.6% a year to $58 billion over the next 10 years.
Singapore's MRO sector had an output of $4.5 billion and employed some 18,000 workers in 2006. Independent and airline MRO operators accounted for about 36% of revenue, while original equipment manufactures (OEMs) took up 34%. In terms of activities, engine overhaul is the single biggest segment, accounting for 48% of the total revenue and component repair accounted for 26%.
By 2018, Singapore's aerospace output is expected to double to $9.0 billion, according to projections by the Singapore Economic Development Board. This growth will be fuelled, among other factors, by the expansion of low-cost carriers that typically outsource to cut costs, and the arrival of new aircraft such as the Boeing 787 and Airbus 380 needing new maintenance and support equipment and expertise that airlines may not want to invest in.
OIL & GAS (OGS)
Overview
Singapore has become one of the most important shipping centers
in Asia and is one of the top three global oil trading and global
refining hubs. Singapore has a total crude oil refining
capacity more than 1.35 million barrels per day (bbl/d).
Its three main refineries are ExxonMobil's 625,000-bbl/d refinery
at Pulau Ayer Chawan, Royal Dutch/Shell's 465,000-bbl/d refinery
on Pulau Bukom and the Singapore Refining Company's (SRC)
275,000-bbl/d refinery on Pulau Merlimau. Recently,
Singapore embarked on a diversification strategy for gas imports
by building a liquefied natural gas (LNG) import terminal.
LABORATORY & SCIENTIFIC INSTRUMENTS (LAB)
Overview
Total imports of laboratory and scientific equipment increased by
15% in 2006. Based on available trade figures for 2007 and market
expectations for 2008, imports are expected to increase by at
least a further 5%. Industry sources attribute this pick-up
to the recovery and sustained pick-up of activity in the
electronics, chemicals, petrochemicals and the biomedical
sciences. Imports from the United States continues to
dominate in the area of laboratory and scientific equipment and
accounts for 43% of total market share. Regional economies
are experiencing sustained growth and with the weaker U.S. dollar
and an already strong preference for American manufactured
products and equipment, particularly in the field of laboratory
and instrumentation, U.S. imports of laboratory and scientific
equipment are expected to increase.
TELECOMMUNICATION EQUIPMENT (TEL)
Overview
Singapore is one of the most wired countries in the world.
In December 2007, mobile phone penetration hit 122.5% and
household broadband penetration rate reached 79.2%. There
are more than 6,200 public Wi-Fi hotspots island wide, which
means there are more than 22 wireless LAN hotspots for every
square mile of the country. Singapore has a well developed
network of fiber optics cables that span the country.
'Cyber cafes' are popular, and Internet connections are available
in most hotels. 3.5G networks based on the High-Speed
Downlink Packet Access (HSDPA) standard as well as Worldwide
Interoperability for Microwave Acces (WiMAX) networks are being
progressively deployed in the country. With total submarine
cable capacity of 28 Tbps3 and direct interntional Internet
connectivity of 25 Gbps3, Singapore is well positioned as a hub
for international capacity as well as a transcable hub where
regional submarine cable systems and international cable systems
interconnect.
POLLUTION CONTROL EQUIPMENT (POL)
Overview
The environmental industry has been designated by Singapore as a
strategic growth area to help the country diversify its
economy. Government development spending on environment and
water resources has grown substantially over the past few years.
Water has been identified as an engine of growth for the economy and about $228 million will be pumped into promoting water R&D in Singapore over the next five years. In line with this, the Environment and Wter Industry Development Council (EWI) was set up to help drive Singapore's goal to be a global hub for water technologies.
The importance of sustainable development and climate change in Asia has also raised awareness of the need to protect the region's environmental factors into development processes in recognition of the merits of sustainable development. Measures that have some impact on greenhouse gas production have included the effort to encourage recycling of waste, targeted to reach 60% by 2012 (compared to 40% in 2000); investment in better insulated and elss energy-hungry buildings in the public sector; the voluntary labeling scheme indicating the energy consumption levels of air conditioning and refrigerator units to help public make better-informed decisions; and encouragement of more eco-friendly vehicle use through a "green vehicle rebate".
At present, Singapore appears to be more interested in solar panel technology as a potential future export-geared business than a supplementary energy provider, and its wind and water power potential are negligible.
MEDICAL DEVICES (MED)
Overview
Singapore's healthcare services are comparable to those of other
industrialized economies. The government spends
approximately 3.8% of GDP annually on healthcare.
In 2006, U.S. exports of medical equipment and supplies to Singapore registered a healthy increase of approximately 30% from 2005, with total imports from the United States at US$327 million. This was due to the economic recovery in Singapore and the region. There was also a corresponding increase in total imports though imports from the United States rose more significantly, with the United States capturing a 24% market share. Based on available trade figures for 2007 and market expectations for 2008, U.S. export of medical equipment to Singapore is expected to again register an increase. Overall, the regional economies have been steadily improving and thriving, and this is expected to translate into more transshipments through Singapore as the island-state is viewed as a major trade hub and launching pad into the region.
The Singapore Parliament passed the Health Products Act in February 2007 and medical devices was the first health product group to be regulated under the Act. Singapore's Health Sciences Authority (HSA), through its Centre for Medical Devices Regulation (CMDR), will oversee the system of statutory control aimed to safeguard the quality, safety and efficacy of medical devices - from high-risk stents for heart surgery to low-risk ones like mechanical wheelchairs - will need to be licensed. The control measures will keep pace with global trends and standards and the agency will take into consideration the regulatory decisions of benchmark agencies like those of the U.S. Food & Drug Administration, the U.K. Medicines Control Agency, Therapeutic Goods Administration of Australia and the European Agency for the Evaluation of Medicinal Products.
COMPUTER HARDWARD AND SOFTWARE (CPT / CSF)
Overview
Singapore is a mature and sophisticated market for IT products
and services. According to the 2006 survey carried out by
the Infocomm Development Authority (IDA) of singapore, 77% of
Singaporean households owned at least one home computer and
almost 9 in 10 households with school-going children had access
to a home computer. Seventy-one percent of households had
home Internet access and in these homes, almost all (97%) used
computers as the mode of access while 9% used
Internet-enabled cell phones. Usage of computers was 100%
in businesses with more than 250 employeess but the usage level
declined to 62% for companies with fewer than 10 employees.
Usage of Infocomm network technologies was similarly higher for
larger companies. Details on infocomm usage in households
and by individuals as well as businesses can be found at http://www.ida.gov.sg/Publications/20061205092557.aspx.
ELECTRONICS COMPONENTS (ELC)
Overview
Singapore's manufacturing sector has emerged as a regional
economic powerhouse contributing at least 25% to the Gross
Domestic Product (GDP). A large component of this sector -
electronics - has attracted major foreign investments as well as
value-added output and employment. Singapore-based
electronics manufacturers have earned 10% global market share for
semiconductor wafer foundry output and 25% global market share
for printers. The world's top three wafer foundry
companies, top three sub-contract assembly-and-test companies,
and top four fabless integrated circuit (IC) design companies all
have facilities in Singapore.
EDUCATION / TRAINING SERVICES (EDS)
Overview
With the second highest per capita income in Asia of US$30,000
and a relatively high standard of English, Singapore offers an
attractive market for U.S. universities and colleges seeking to
recruit international students. In addition, Singaporeans
regard the United States as the leader in technology and
management education so they value opportunities to pursue
undergraduate and graduate degree programs at U.S. educational
institutions. The below table shows the number of student
visas issued over the past six years based on press reports.
Singapore emphasizes, supports and values higher education and human resource development. Many government agencies and private sector companies also offer full scholarships for top students to pursue their undergraduate and graduate studies in foreign universities, including in the United States.
FRANCHISING (FRA)
Overview
Singapore's consumers enjoy one of the highest standards of
living in the world, with a per capita Gross Domestic Product of
US$30,000. Despite a population of only 4.68 million
(including permanent residents and foreign workers), Singapore is
home to over 400 franchises from around the world. The
United States dominates franchise concepts in Singapore and is
expected to continue to be the market leader. There are
American franchises in practically every industry.
McDonald's, Starbucks, Ben and Jerrys, Carls' Jr., Mister Minit,
Avis, Hertz, Holiday Inn, Toys R US, and many others have
operations in Singapore. Other U.S. franchises include
On-line Trading Academy, Comfort Keepers, and Contours
Express. The Government of Singapore actively promotes the
growing number of indigenous franchise concepts in the
country. It wants to develop Singapore into an
international franchise hub to showcase international franchises
and to use Singapore as a launching pad for local and foreign
franchisors expanding into the region. The Franchising and
Licensing Association of Signapore estimates that sales turnover
of Singapore-based franchises accounts for 18% of the total
domestic retail sales and amounted to S$5.48 billion (US$3.58) in
2006.
Please feel free to contact us directly if you have questions:
Your Industry Specialists
Ms. CHIA Swee Hoon, Senior Commercial Specialist
Industries:
INFORMATION TECHNOLOGY/BUSINESS
SERVICES(telecommunications equipment & services;
computers, peripherals & software (home, office); information
services; media services; film and media technology &
services; advertising & public relations services;
franchising; management consulting; legal services; leasing
services; employment services; investment services; financial
& insurance services; audio equipment, films & video;
photographic equipment & supplies),
CONSUMER ELECTRONICS,
STANDARD ISSUES,
ENTERTAINMENT VENUES - Casinos/Theme Parks
NG Haw Cheng, Commercial Specialist
Industries:
BUILDING/CONSTRUCTION(construction equipment and
supplies; building products & equipment;
architectural/construction/engineering services; sanitation
equipment & products; cleaning products and services;
commercial laundry equipment; cleaners - commercial/industrial;
wipes for commercial use; industrial cleaning services;
hand/power tools - construction; real estate; interior
decoration);
ENVIRONMENT PROTECTION (environmental protection
technology - recycling, waste management, pollution control;
environmental control services);
SEA/AIR/LAND TRANSPORTATION, (public transport
vehicles, rail; ports & shipbuilding; marine technology;
automobiles, trucks, vans; automobiles, automotive parts &
services; boats and accessories; airport ground support vehicles;
air traffic control equipment; aircraft and parts, avionics;
safety & security equipment; defense technology &
equipment; transportation services; air-conditioning - cold
rooms; commercial fishing equipment; commercial vessels &
equipment; aircraft maintenance)
WAREHOUSING
CHAN Yiu Kei, Commercial Specialist
Industries:
MANUFACTURING & TECHNOLOGY (materials handling;
machine/manufacturing tools and metalworking equipment; paper
& printing and graphic arts machinery; plastics &
plastics production machinery; chemicals & chemical
production machinery; textile machinery; general industrial
equipment & supplies; materials technology - advanced
materials, composite fibers, ceramics; industrial
automation/robotics; industrial process controls; electronic
production and test equipment & supplies; electronic
components - active/passive, electro-mechanical, sensors;
bearings - ball & roller; plant maintenance equipment;
hand/power tools - mechanic; hand/power tools - metalworking;
fasteners - industrial; heaters - commercial/industrial; heating
equipment - industrial; leather processing equipment; rolling
mill machinery; rubber products - industrial),
EDUCATION/TRAINING(educational & training
services),
POWER/UTILITIES utilities; energy - electricity, wind,
solar, gas, etc; power generation & distribution; power
transmission; pumps, valves, compressors; mechanical power
transmission product; smelting equipment; hardware - milled
non-ferrous, ferrous),
TRAVEL & TOURISM
Ms. Luanne THESEIRA, Commercial Specialist
Industries:
HEALTH/MEDICAL/SCIENTIFIC(dental equipment; medical
equipment, supplies, furniture; healthcare services; drugs and
pharmaceuticals; vitamins/minerals supplements, health foods;
biotechnology; veterinary equipment & supplies; general
science & technology; bio-medical equipment maintenance;
laboratory and scientific instruments);
CONSUMER GOODS & SERVICES(apparel; jewelry;
leather, fur and footwear; home textiles, fabrics, yarns,
textiles & textile products; household consumer goods;
giftware, stationery; office and school equipment & supplies;
do-it-yourself products/tools; retailing; cosmetics &
toiletries; spa equipment/beauty salon equipment &
accessories; eyewear; sporting goods, golf, fitness; equestrian
goods and outdoor equipment; toys and games; musical instruments;
books and periodicals; artwork; pet supplies gardening tools and
supplies);
FOOD PROCESSING, PACKING & SERVICES(processed food;
food processing & packaging machinery and equipment; hotel
& restaurant equipment; beverage technology; food vending
machines, agriculture and forestry machinery; agriculture
services; furniture; hotel & restaurant management).