German SMEs Tap Into Singapore Market

Over 1,800 German firms in Singapore from the industrial sector are looking to expand into the ASEAN.

The business ties between Germany and Singapore provide a growth environment for any enterprise of scale. Even with over 1,800 German companies set up in Singapore, opportunities arise for the small and medium-sized enterprises (SMEs) — known as the ‘Mittelstand’ — to enter the ASEAN region. Prospects for Singapore SMEs are also ripe as they can look to their German counterparts for services in smart city development, high-end manufacturing, electronics and chemicals.

In an exclusive interview with Singapore Business Review, Singaporean-German Chamber of Industry and Commerce (SGC) executive director Dr. Tim Philippi talks about collaboration opportunities for German and Singaporean SMEs as well as trade fairs and events that both can tap into.

What innovations and developments by Germany businesses can Singapore businesses anticipate?

Successfully taking part and managing the digital revolution is something both Singapore and Germany have a common interest in. In 2017, following the Smart Nation Initiative we saw Singapore setting foot into the next milestone to boost the digital ecosystem.

With much to gain from a fully digitalised economy in the future, the nation is rapidly embracing ‘Industrie 4.0’. The so-called fourth industrial revolution has opened new doors for companies. German companies, the inventors and driving force behind ‘Industrie 4.0’, are also offering various co-operative opportunities for Singaporean businesses.

For German companies, especially in the digital sector, Singapore is a preferred destination in Southeast Asia. Not only does it have the state-of-theart infrastructure and facilities, Singapore has also established herself as a promising starting point for expansion and market entry into the ASEAN region.