SPECIAL REPORT
of our life span . Less than 50 years of independence . But 50 years of intense experience , starting from a low base , we would like to share .”
Singapore has developed solutions to issues that African nations have been facing for decades – housing , water , infrastructure and governance . There is an increasing number of Singaporean companies on the African continent working with both governments and local partners in order to begin solving these complex issues .
Much of the continent ’ s needs are similar those facing Singapore 50 years ago , but solutions that take into account the socioeconomic and political situation on the ground will ultimately be the most effective – not to mention the most profitable .
Dr Koh Poh Koon , Minister of State for National Development explains : “ Some countries want to build high-tech industrial parks because they ’ re captured by the notion of high technology , but you ’ ve got to ask yourself if you ’ ve got the workforce for that . You cannot go on the same bandwagon as someone else in a different phase of development .”
Singapore ’ s top African trading partners
1 ) Liberia 2 ) South Africa 3 ) Egypt 4 ) Angola 5 ) Togo
Total export value : s $ 8 billion Total import value : s $ 3 billion
African companies in Singapore The World Economic Forum ’ s Global Competitiveness Report listed Singapore as the world ’ s second most competitive country . Furthermore , the World Bank also named the country as the easiest place in the world to do business for 2015 - INSEAD ’ S Global Innovation Index 2015 also ranked it as the most innovative country in Asia . But a company choosing to headquarter
10 August 2016