Global connectivity

600

port links in over 120 countries worldwide¹

25,200

flights to and from Changi Airport monthly²

free trade agreements globally³

We connect you with the world

Excellent global transport network

Singapore is one of the world’s most connected countries, strategically located along the world’s major trade, shipping and aviation routes.

Changi Airport – regularly ranked as the world’s best airport – serves more than 100 airlines flying to about 100 countries and territories globally. Over 62 million passengers pass through the airport a year.

We also link you to more than 600 ports globally, with 200 shipping lines passing through Singapore. Annually, more than 130,000 ships call at Singapore.

Gateway to Southeast Asia

Business opportunities in Southeast Asia have increased dramatically, with the region boasting remarkable growth in the past decade and attracting record investments from around the world.

Singapore’s strategic location – we are within a six-hour radius of any Southeast Asian country – means that we are an ideal hub from which you can access the region and its growing consumer market.

Our strong historical and trade connections to the region also put your business on the fast track to understanding the nuances of operating in different parts of Southeast Asia.

Trade facilitation schemes

ASEAN Free Trade Area
A trade bloc agreement that supports local trade and manufacturing in all ASEAN countries, and works towards lowering intra-regional tariffs
ASEAN Investment Area
Ensures mostly non-discriminatory treatment for ASEAN and ASEAN-based investors, transparent rules and regulations, and protection for investors and their covered investments
ASEAN Framework Agreement on Services / ASEAN Agreement on Movement of Natural Persons
Facilitates the freer flow of trade in services and people in the region by providing broad guidelines and substantially eliminating restrictions
ASEAN Single Window
Expedites cargo clearance by enabling the electronic exchange of border trade-related documents between member states
ASEAN-wide Self-Certification Scheme
Allows Certified Exporters to self-declare the origins of their exports, instead of waiting for hardcopy certification, and benefit from preferential tariffs

4^th

largest economy in the world by 2030

Source: US-ASEAN Business Council, “ASEAN Matters for America, America Matters for ASEAN”

US$330 billion

Projected market value of SEA's digital economy by 2025

Source: Think with Google, “e-Conomy SEA 2022”

Number of 'unicorns' in SEA (2022)

Source: DealStreetAsia, "SE Asia minted eight new unicorns last year - a third of 2021", 6 February 2023.

A bright future for Southeast Asia

A bright future for Southeast Asia

663.9 million

Total population in the region, more than half under 35 (2021)

Source: ASEANstats, ASEAN Key Figures 2022

SEA's middle class to double to 350 million
by 2030

Source: US-ASEAN Business Council, “ASEAN Matters for America, America Matters for ASEAN”

US$66 billion

Private equity and venture capital assets under management in SEA (2021)

Source: Association of Southeast Asian Nations (ASEAN), ASEAN Investment Report 2022

4^th

largest economy in the world by 2030

Source: US-ASEAN Business Council, “ASEAN Matters for America, America Matters for ASEAN”

663.9 million

Total population in the region, more than half under 35 (2021)

Source: ASEANstats, ASEAN Key Figures 2022

US$330 billion

Projected market value of SEA's digital economy by 2025

Source: Think with Google, “e-Conomy SEA 2022”

SEA's middle class to double to 350 million
by 2030

Source: US-ASEAN Business Council, “ASEAN Matters for America, America Matters for ASEAN”

Number of 'unicorns' in SEA (2022)

Source: DealStreetAsia, "SE Asia minted eight new unicorns last year - a third of 2021", 6 February 2023.

US$66 billion

Private equity and venture capital assets under management in SEA (2021)

Source: Association of Southeast Asian Nations (ASEAN), ASEAN Investment Report 2022

We bring the world to you

Global talent and companies call Singapore home

The world’s top industry players, from startups to multinational corporations, are in Singapore. We are also a magnet for global talent, and a leading destination for business events and business travel.

This offers opportunities for you to form business relationships with new strategic partners, and to exchange knowledge and insights with professionals and entrepreneurs from around the world.

2^nd in the world

Best in attracting and growing talent

Source: INSEAD, The Global Talent Competitiveness Index 2022

1^st in the world

Best Business City in the World

Source: Business Traveller, Asia-Pacific Awards 2022

Singapore: Host to the world

>200

incubators and accelerators based here

Source: StartupSG, Incubators. Accessed on 10 Feburary 2023.

1^st in Asia

Best MICE Destination

Source: M&C Asia Stella Awards 2022

2^nd in the world

Best in attracting and growing talent

Source: INSEAD, The Global Talent Competitiveness Index 2022

>200

incubators and accelerators based here

Source: StartupSG, Incubators. Accessed on 10 Feburary 2023.

1^st in the world

Best Business City in the World

Source: Business Traveller, Asia-Pacific Awards 2022

1^st in Asia

Best MICE Destination

Source: M&C Asia Stella Awards 2022

Strong trade links with the world

Extensive FTA network

Singapore has a wide network of more than 27 free trade agreements (FTAs) globally that will allow you to trade freely and easily with major economies in the world.

With recently announced FTAs such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP), Singapore-based businesses can enjoy closer trade connections with key trading partners such as Canada, Mexico and China.

Potential lower or zero tariffs also mean exports from Singapore stay competitive. With preferential rates and easier entry into many export markets, our FTAs help to ensure stability for your business in the long term.

Learn about our FTAs

Low barriers for flow of goods

Part of being connected to the world means being able to easily manage supply chain operations and regional distribution activities for the goods flowing through Singapore.

Free Trade Zones

Free Trade Zones (FTZs) in Singapore facilitate entrepot trade and transhipment activities by suspending duty and GST for goods stored within the FTZ, as long as key requirements are fulfilled. These help companies fully leverage the proximity to Singapore’s ports by getting direct access to terminals.

Learn how FTZs work

Import GST suspension

Under certain schemes, import Goods & Services Tax (GST) can be suspended or deferred for approved businesses. This helps to ease the cash flow of businesses that are fully leveraging Singapore’s connectivity. Examples of such schemes are:

Zero-GST Warehouse Scheme
A Zero-GST warehouse is a designed area for storing imported non-dutiable goods with GST suspended
Major Exporter Schemes (MES)
For businesses that import and export non-dutiable goods substantially
Approved 3rd Party Logistics Company Scheme (A3PL)
For companies that provide logistics management services to overseas clients using Singapore as a logistics hub

Reliable and relevant customs

Connectivity is not only about infrastructure, but also the ease of working with regulators for your flow of goods. The Singapore Customs is a trusted partner for many companies that depend on Singapore’s ports.

Proactively adapting to evolving business needs and working closely with businesses on issues that may occur, our Customs has introduced a range of digital initiatives to promote trade efficiency. These include:

Networked Trade Platform
A one-stop trade and logistics ecosystem that supports digitalisation efforts and connects players across the trade value chain
Electronic Banker’s Guarantee
Facilitates faster and more seamless transactions by accepting the submission of banker’s guarantee in electronic form

Digital trade

With increasing digitalisation, the secure and seamless cross-border flow of data, as well as the use of digital platforms and tools such as e-invoices and digital identities, are essential business considerations.

We have established progressive agreements with key trade partners to ensure digital connectivity and regime interoperability for Singapore-based businesses, while maintaining necessary compliance. Examples include:

Digital Economy Agreements (DEAs)
Aligning digital rules and standards with like-minded partners
APEC Cross Border Privacy Rules
Data privacy certification system for companies to show compliance with internationally recognised data privacy protections
ASEAN Model Contractual Clauses
Contractual terms that can be used in legal agreements to protect cross-border transfer of data
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