From ship management, ship financing and shipbroking, to maritime legal services and offshore engineering, Singapore is a one-stop service for all port, shipping and maritime activities. You can leverage Singapore’s reputation as a premier global hub port and international maritime centre to gain customer confidence and export your services overseas.
Zhejiang, a coastal province in China's southeast, is one of the country’s richest provinces with a gross domestic product of S$1.1 trillion – about three times the size of Singapore’s economy.6
Trade between Singapore and Zhejiang almost doubled in the past decade to reached S$5.2 billion in 2017. Singapore firms have also invested a total of S$7.2 billion in more than 1,200 projects in the province.1
If you run a sea transport business, consider business opportunities in Zhejiang’s Pilot Free Trade Zone (FTZ). Glencore Singapore is partnering Zhejiang Petroleum to establish a joint venture in the FTZ to conduct and promote oil trading in the region. Consort Bunkers has inked a MOU with the Zhoushan government to collaborate on the marine bunkering value chain1.
You can expect more opportunities in bunkering services, petroleum trading services and distribution, and port and maritime services under China’s Belt and Road Initiative.
As a Singapore company, you can leverage China’s digital growth and partner Chinese companies to advance technological solutions for the maritime industry in China, ASEAN and beyond. The Global Innovation Alliance (Beijing) led by Enterprise Singapore can connect you to tech and startup players in China for collaborations.
1: According to Maritime and Port Authority of Singapore.
6: “More opportunities for Singapore companies to partner Zhejiang in urban solutions, e-commerce, wholesale trade and logistics”, Enterprise Singapore Press Release, 26 April 2018
Under President Jokowi’s Maritime Strategy, Indonesia is ramping up its port expansion plans to improve the country’s maritime connectivity. The Indonesian government and private investors are anticipated to pump in an estimated US$12 billion (S$16 billion) to rejuvenate Indonesia’s ports and reduce domestic shipping costs.
As a Singapore company, you can bring your expertise in master planning, consultancy and training to the port in Indonesia, or invest in private ports and public-private partnership projects in port infrastructure.
If you are a logistics company, you can expand your business to Indonesia by offering services such as basic transportation, warehousing, point-to-point delivery and even sophisticated processes like reverse logistics.
However, do find a strong and reliable local partner, as Indonesia’s laws only allow up to 49% foreign ownership of port facilities. Learn more about Indonesia’s growth opportunities.
Foreign investments have streamed in steadily since Myanmar opened up its economy in 2011. However, Myanmar’s growing trade is straining its existing port infrastructure.
A port expansion programme is in the pipeline under the Myanmar government’s MMK26.7 trillion (S$29.2 billion) National Transport Master Plan, which aims to upgrade the country’s physical infrastructure to meet the needs of the growing urban population by 20307.
The Myanmar Port Authority has started privatising berths previously held by them and awarding new concessions. Local companies are allowed to own and operate transport and connectivity infrastructure. You can bring over the needed expertise, and work with local partners to design and develop port solutions in areas such as engineering, feasibility studies, development of inland waterway transport, development of offshore supply bases, master planning, and skills training.
Find out the business potential of the growing economy in Myanmar and how you can enter the Myanmar market.
7: “The Report: Myanmar 2017”, Oxford Business Group, 2017