Opportunities for Exporters
There are growing opportunities for UK companies in Vietnam , across a range of sectors .
Financial Services
Fintech Opportunities The Monetary Authority of Singapore ( MAS ) is a member of the Global Financial Innovation Network and provides incentives for investing in FinTech and financial innovation . The MAS hosts the FinTech Regulatory Sandbox , provides opportunities to experiment with innovative financial products and solutions in a live but controlled environment .
Green & Sustaimable Finance The MAS is promoting a green financial ecosystem through Project Greenprint . Financial institutions and tech players have the opportunity to collaborate to pilot solutions that enable firms to access green financing options , use data to monitor better commitments to green standards , and use technology to measure the impact of sustainable investments and loans .
Technology
Asset management centre Singapore is a leading regional hub for asset management , providing the opportunity to source and access APAC investment opportunities . There are over 800 registered and licensed fund managers in Singapore . The launch of the Variable Capital Companies ( VCC ) framework in 2020 encourages fund managers to domicile their investment which creates opportunities in the asset management sector .
Strong government support The Singapore government encourages the country ’ s digitalisation and adoption of new technologies . The government has rolled out major programmes like Smart Nation Singapore that encourages digitalisation of government processes and services . Singapore has also established organisations , like AI Singapore and SG Innovate , to support continued sector growth and development .
Ideal base for regional operations Singapore is considered to be a world-class technology hub in Asia , making it a good base for companies as a springboard into the region . The country continues to attract established international technology companies , creating a rich environment for opportunities and collaboration .
Infrastructure
Singapore is an early adopter consumer market Singapore is adopting next-generation technologies like AI , machine learning , IoT , Smart Cities , and 5G . This is creating opportunities for UK companies looking for a market for high tech products .
Links to UK on transport planning Singapore looks to the UK for ideas and solutions across master-planning , consulting , and engineering . Opportunities are typified as large value in the region of £ 27 million per project ( Datahub Average ).
UK supply chain The UK supply chain is represented by many established brands present in the market who continue to bid , engage , and win work with Singapore agencies such as the Land Transport Authority ( LTA ), Urban Redevelopment Agency ( URA ), Public Utilities Board ( PUB ), and Changi Airport Group ( CAG ).
Decarbonisation of infrastructure Expertise in transport , planning , consulting , design and delivery , and sustainability provides UK firms with opportunities to present and lead on the decarbonisation of infrastructure . Singapore is focusing its research efforts on climate change , decarbonisation , healthy cities , and the built environment ( The Straits Times , 2021 ).
Healthcare
Infrastructure expansion New healthcare projects by the Singapore government include 8 hospital specialist centres , 15 polyclinics and primary care facilities , and 11 nursing homes ( Ministry of Health , 2021 ). An assisted living model in public housing is also being implemented in phases by 2023 to better meet the needs of the ageing population ( CNA , 2021 ).
Technology and innovation The Singapore government is adopting and developing technology to improve patient care , increase productivity and make its healthcare system future-ready and sustainable for the long term ( Ministry of Health , 2021 ).
Ageing population A quarter of the population , around 900,000 , will be over 65 by 2030 ( Ministry of Health , 2019 ). 10 % are predicted to develop dementia ( SingHealth , 2021 ). Opportunities for products and services exist in elder care , telehealth and remote monitoring , AI and Robotics , integrated care , and ageing in place .