Singapore is a land of business opportunity

"Foreign companies need to be made aware of what Scotland has to offer, at both home and abroad, and what they're potentially missing.”

The Scottish Business Association of Singapore (SBAS) and Scottish Development International (SDI) are working together to promote Scotland and Scottish Business in one of the world’s fastest growing economies – Singapore.

Singapore is a high growth market and is Scotland's largest trading partner in South East Asia, as well as being one of the largest export markets for Scottish products outside of Europe.

Jason Grant, Manager of SDI's office in the region says "Singapore is one of SDI's busiest trade development offices, working with almost 100 of Scotland's leading companies every year to support access to lucrative SE Asian markets."

The UK Government reported that exports of goods and services to Singapore reached £6.5 billion in 2009 and that the export of goods only in 2010 was £3.38 billion.

Why set up base in Singapore

Ranked number one globally by the World Bank in its "Ease of Doing Business" report, its location, English language and pro-business laws, makes Singapore an ideal springboard to the rest of south-east Asia, China and Australia.

For these reasons over 50 Scottish companies already have a regional base there and many more are in the process of working with SDI to establish one.

A number of Singapore’s key business sectors for development are areas where Scotland has the expertise, such as energy, offshore and marine engineering, aerospace, life sciences, financial services and the provision of higher education. This opens the way for a potentially exciting synergy between the two economies, with Scottish businesses potentially having much to gain.

“It is a country which Scottish business will have increasingly on its radar screen,” says John Fulton, Scotland Secretary for SBAS. "Already there are some 6,000 to 8,000 Scots doing business there".

“My job for SBAS in Scotland is to have active dialogue with SDI and other bodies who have customers and members looking to go out to Singapore, as well as with the businesses themselves.

“I am joined in this endeavour in Scotland by David Fraser, who is an ambassador for SBAS and a GlobalScot.

“One of the main purposes is for SBAS is to provide a network for companies looking to break into the Singapore market.

“SBAS is another tool in SDI’s toolkit,” he added. “We aim to complement the vital work of SDI and by doing so seek to help make companies' commitment there take root more easily.

“We want to blow Scotland's trumpet abroad because we know it has a great tune to play.

"Foreign companies need to be made aware of what Scotland has to offer, at both home and abroad, and what they're potentially missing. In a very modest way, we are here to provide that spark and let people know of Scotland's strengths.”