Exporting to Singapore

Singapore. Republic of Singapore

Export opportunities for Spanish companies in Singapore

Strengths

  • It is easy to establish a company and to develop a business as well.
  • Strategic country in the ASEAN group (logistic, financial, technological and business centre).
  • Sound, consolidated, transparent and efficient legal system.
  • Political and economic stability.
  • Excellent infrastructure. Population with a high educational and training level.

Weaknesses

  • Limitation on physical space and population growth.
  • Vulnerable to external economic shocks.
  • High costs with a tendency to lose competitiveness.
  • Some restrictions on granting work permits and quotas on new permanent residents.

Investments

  • Singapore is one of the main recipients of foreign investment in Asia which have largely been industrial.
  • Opportunities related with fine chemicals and petrochemicals, pharmaceutical and biotechnology sector and medical industry, services…
  • Right to transfer and repatriate in foreign currencies, capital, profits, dividends, interest, loan repayments, royalties…
  • Incentives for foreign investment in high added value sectors and research development.

Outlook

  • GDP growth of 3.5% in 2013 and stable growth (average 3.5-4%) in the medium term.
  • Stability of the SGD with a tendency to appreciate vs. the USD.
  • Knowledge economy areas, high added value, research and development will be a priority in both the industrial and service sector.

 

Contact

Singapore

Keck Seng Tower
133 Cecil Street, 09-01 A
069535 Singapore

Contact details
Manager: Joan Salafranca
Tel. (+65) 6224 2707

Contact

Form of government

Parliamentary republic

Official language

English, Mandarin, Malay, Tamil

Currency

Singapore dollar (SGD)

Exchange rate

1 euro = 1.708 dollars (October 2013)

Religion

Secular state (although the main practiced religions are Buddhism, Christianity, Islam, and Hinduism)

Population

5.4 million (June 2013)

Time difference

+ 8 hours

Banco Sabadell in Singapore

La Sra Salamah y el Joan Salafranca (director)

Miss Salamah and Joan Salafranca (Manager).

Experience

Banco Sabadell’s relations with Singapore banks dates back to the 1980s. During this time, it has built close, solid ties with all the banks in Singapore, thus covering the needs of Spanish exporters and investors. The regional office of Banco Sabadell in Singapore has operated in the country since 1990 and has enabled it to work in close conjunction with the market and the other countries in the region. Therefore, Singapore has strengthened our capacity to guide and advise companies, investors, importers and exporters and is well known in the financial and economic community of the country.

Services

Banco Sabadell in Singapore:

  • a quality, customised service for Spanish companies in their export and investment activity in the country.
  • commercial advice on the market, local banking and multiple financial products.
  • transaction monitoring, projects and tenders.