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2019 could be a good year for Singapore small and medium-sized Enterprises (SMEs) planning to expand overseas, with the International Monetary Fund predicting a global economic growth rate of 3.7%, and consumer spending slated to increase globally.

With a total population of 640 million, ASEAN is predicted to become the world’s fourth largest economy by 2030, after the US, China and the European Union.

ASEAN is the place for startups to be – an economic bloc made up of 10 countries, with a young, increasingly affluent and mobile-savvy population of over 600 million.

The Belt and Road Initiative (BRI), President Xi Jinping’s flagship development strategy, has in five years evolved into a watershed initiative that encompasses sectors far beyond hard infrastructure.

While the BRI has the potential to become a major engine of economic growth for the more than 60 countries linked to it, more private sector involvement is necessary to bridge funding gaps.

With the passing of several investment-friendly laws and the development new economic corridors in Myanmar, Singapore companies and businesses are showing a strong interest in contributing to the country’s growing infrastructure and lifestyle needs.

With its strategic location, strong financing schemes and a vibrant ecosystem, Singapore has positioned itself as an attractive destination for global startup talent. In 2016, 658 – or 15% – of 4,300 tech startups in Singapore were in fact global startups.

Deep tech startups are fast gaining recognition as the answer to some of the world’s largest problems. Defined as cutting-edge technologies founded on scientific discoveries or engineering innovations, deep tech encompasses transformational technologies such as artificial intelligence (AI), robotics, blockchain and medtech.

Logistics is a dynamic, growing industry. Last year, it contributed to 7.2 per cent of Singapore’s gross domestic product with a year-on-year growth of 4.8 per cent.

The rise of the middle-income group in Asia is driving global consumption, and it will continue to do so in the next couple of decades.