Located at the heart of Southeast Asia, Singapore is an ideal global connectivity hub. Despite its small size, the island-state is closely wired to its neighbors and the rest of the world because of the level of its technological development.
To make up for its limited natural resources, the city-state capitalizes on a new kind of asset – data. Singapore’s early adoption of digitalization and its proven speed to adapt have made it a more attractive location to do business. Already praised for its top-rate logistics infrastructure, the country is now building further on its digital connectivity.
“Singapore’s strategic location, strong infrastructure, business-friendly policies and expertise, and reputation for integrity and efficiency have enabled the country to develop itself as a regional business and trade hub and to position itself well to seize the opportunities that come with the rise of Asia,” said United Overseas Bank CEO Wee Ee Cheong.
“ASEAN’s favorable fundamentals are attractive to those seeking new opportunities. Of course, the journey of connectivity and integration is not always smooth. But through continued engagement and a practical and paced approach, the collective potential of the region can be realized,” he added.
In partnership with the Economic Development Board and International Enterprise Singapore, UOB helps foreign companies seeking to set up their operations in Singapore and in expanding across the region.
“We extended our Foreign Direct Investment Advisory Team to nine markets and thus provided important links across the region. The teams have helped customers understand market entry strategies, industry dynamics and how to navigate the complexities of doing business in ASEAN,” Wee explained.
Immigration solutions and visa consultancy company, One Visa, is one key player in helping connect foreign companies and talented individuals to Singapore. Established in 2010, One Visa has grown significantly to become a leading immigration service provider in Singapore.
“One Visa is one of only a few visa consultancy companies that have the capability to advise and offer the full spectrum of immigration services in Singapore. We have been very focused on knowing where we can move people, while consistently adding new value and excellence to our clients’ experience,” said Founder and Managing Director Cheng King Heng.
“After years of experience managing Western clients, it’s our very boutique style of service that sets us apart from our competitors. We can make their next move effortless,” Cheng added.
One Visa plans to establish further globally and is looking at new partnerships with migration agents in the US and Canada.
For commodities trading company Rhodium Resources Pte. Ltd., being located in Singapore may have been more important that just understanding Asia and navigating the market.
“Few financial centers in the world have an understanding of commodity trade and finance. Finance is our specialty. But in Singapore, where we do not have alternatives or the luxury of a base resource, we tend to be a trading hub,” said Director Cheam Hing Lee.
“We are a unique commodities trading company that leverages lots of financial institutions. We are big enough to borrow and buy assets or have joint venture partners who recognize our credibility,” Cheam added.
Global port operator PSA International provides value by staying competitive, preparing their people’s capabilities and transforming well in tandem with the shipping and logistics industries’ ever-growing interconnectivity.
“Our business is facility-driven and capacity-driven. So when we have new facilities, we enable new connectivity. And if there is good industrialization, if the country also builds the right infrastructure, we will have a successful outcome. Over time, that has given us a very steady rate of growth,” said Group CEO Tan Chong Meng.
While Singapore’s Changi Airport is consistently named one of the best airports in the world, it has also remained an important air cargo hub in the region. With connections to more than 380 cities around the world, Changi plays an important role in global trade and tourism.
“We are constantly on the lookout for new and exciting ways to create an unparalleled Changi Experience for our passengers. We invest and innovate to differentiate Changi Airport,” Senior Vice President Ivan Tan said.
At the end of this year, Changi Airport is expected to open its new Terminal 4, which will add another 16mppa to Changi’s capacity. Changi’s current capacity is 66 mppa, and with T4, Changi’s total handling capacity will be 82 mppa.