Britain accounts for a significant proportion of foreign direct investment in Singapore , contributing about 6 % of the total . Roughly one-fifth of the inflow from Europe , and just under half the 14.9 % of the US , the leading contributor . A common language , strong historical ties and similar legal , technical and professional standards are key points of attraction for British businesses , who are also drawn by Singapore ’ s location and investment climate .
Overseas investment in Singapore is rising across the board , especially for financial and insurance services which attract more than half of all foreign direct investment . ( Investment in this sector also grew faster than in any other industry , posting average annual growth of 17.5 % from 2010 – 14 ). This reflects the country ’ s status as a regional financial hub .
The government is also making efforts to strengthen chemical and pharmaceutical industries by constructing related infrastructure in Tuas and Jurong Island — a development of potential interest to UK companies .
Singapore ’ s advantage in these industries lies in its strong intellectual property laws and world-class infrastructure . Many of the world ’ s leading biopharmaceutical companies have made Singapore their global manufacturing base for biologics and high-value medical technology products .
Ipsos Business Consulting — Local view Linda Loh , Head of Singapore
“ Singapore is a regional financial hub and strategic gateway into Asean . With its highly educated workforce and a stable pro-business environment , it has proven itself as a major destination for foreign direct investment . Overall FDI stock in Singapore has grown from US $ 633 billion in 2010 to US $ 963 billion in 2014 , of which financial services have been a key driver .
“ We believe financial services will continue to interest British companies , which currently have a substantial presence in the sector . Other opportunities include biomedical sciences and chemicals , where there has been much support from the government in developing high-end manufacturing , as well as in investing in research and development .”
Linda Loh
Head – Singapore linda . loh @ ipsos . com + 65 6501 9756
These include Abbott , GlaxoSmithKline , Lonza , MSD , Novartis , Pfizer and Sanofi-Aventis . The country is also positioned as a global chemicals hub , especially with the development of Jurong Island , which is a base for companies such as BASF , ExxonMobil , Lanxess , Mitsui Chemicals , Shell and Sumitomo Chemicals . To date , investment in Jurong Island has exceeded S $ 35 billion ( about US $ 25 billion ).
Singapore ’ s FDIs by Sector , 2014
Professional , Scientific & Technical , Administrative & Support Services
7.3 %
Others
10.8 %
Manufacturing
14.4 %
Wholesale & Retail Trade
17.2 %
Financial & Insurance Services
50.3 %
Source : Singapore Department of Statistics
Ipsos Business Consulting Creating Opportunity | 10