Singapore is an ideal ASEAN entry point for Australian businesses, especially those who are more risk averse or cautious about establishing operations in less developed regional markets. It is sophisticated and stable, and one of the most free and well-connected economies to Australia, ASEAN and the wider world.
Australia and Singapore are both open economies, sharing a common language and strong legal systems based on English common law. This makes communication easier, decreases uncertainty and potential risks, and reinforces Singapore’s attractiveness to companies looking for a first step into the region.
Singapore’s deep and well-developed financial markets make scale easier to achieve for Australian companies looking to overcome the restrictive size of our domestic market, while its investment attraction schemes offer advantageous incentives to lure foreign businesses to the city-state.
Singapore should be a first port of call or entry point into the ASEAN region for Australian companies.
Its well-developed legal, tax, infrastructure and talent advantages can mitigate some of the initial risk or hesitancy of expanding into the region.
As a strong and established services hub, Singapore is an ideal location in which to establish a regional treasury centre as part of a larger pan ASEAN proposition.
You can find out more about the opportunities for Australian companies by downloading the ASEAN connected report on our website. Click here for more information.