Population (2017): 67.12 million GDP (2017): S$4.2 trillion World Bank “Ease of Doing Business” Rank (2018): 31 Bilateral Trade with Singapore (2017): S$16 billion
France is an economically developed nation with a large, diverse and sophisticated consumer base. With a GDP of US$2.6 trillion (S$4.2 trillion) in 2017, France is the world’s sixth largest economy and the third largest economy in the European Union after Germany and the UK1. The country excels in aerospace and defence, civil engineering, consumer goods, energy, telecommunications, and tourism. In addition, its workforce is anchored by high research and development spending. Ride on the niche French areas of aerospace engineering, lifestyle and consumer products to give your business a headstart in France and Europe.
1 International Monetary Fund, 2018
France has an educated and talented population with excellent universities. The country has 1.6 million scientists and engineers, and 44% of 25 to 34 year-olds are tertiary-educated2. Your business can capitalise on the country’s modern business culture, coupled with well-established financial markets and strong intellectual property protections to enter the French and European markets.
France has fast and efficient connections throughout Europe and the rest of the world due to its superb infrastructure that includes a high-speed passenger rail, maritime ports, extensive roadway networks and public transportation, and efficient intermodal connections.
Besides the excellent transportation system, your company can benefit from a high-quality communications infrastructure that includes high-speed network coverage, as well as electricity at competitive prices.
2 Education at a Glance 2018, OECD, 2017
Singapore is the second top Asian destination for French investment and over 1,900 French companies are based in Singapore. These companies are in the areas of chemistry, electronics, and finance, and include Airbus, Bolloré Group, EDF, Engie and Total.
Singapore is also France’s top trading partner in Southeast Asia and its third in Asia, with total bilateral trade exceeding €10 billion (S$15.6 billion) in 20173.
Bank on the strong ties between Singapore and France to tap into the French market and also its strong innovation ecosystem. Singapore companies with significant presence in France include Ascott, City Developments and ST Engineering.
3 Closing speech delivered by H.E. Zainal Arif Mantaha, Singapore Ambassador to France at the France-SIngapore workshop on innovation.
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