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Sinki need to go Africa to huat big big hah
- Thread starter k1976
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SINGAPORE: There are many business opportunities in Africa for Singapore firms including in sectors like the digital economy, manufacturing and sustainability.
However, these come with their own challenges, such as fast-changing regulatory frameworks and foreign currency exchange risks, Mr G Jayakrishnan, executive director for South Asia, Middle East and Africa at Enterprise Singapore, told CNA’s Singapore Tonight on Monday (Sep 11).
However, these come with their own challenges, such as fast-changing regulatory frameworks and foreign currency exchange risks, Mr G Jayakrishnan, executive director for South Asia, Middle East and Africa at Enterprise Singapore, told CNA’s Singapore Tonight on Monday (Sep 11).
Companies that have expanded into the continent said that understanding the unique local context is also crucial, including the technological maturity of each country.
Trade between Singapore and Africa grew 15 per cent each year between 2019 and 2022. As of 2021, Singapore companies had invested over S$32 billion (US$23.5 billion) in the continent.
Trade between Singapore and Africa grew 15 per cent each year between 2019 and 2022. As of 2021, Singapore companies had invested over S$32 billion (US$23.5 billion) in the continent.
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Singapore firms that have expanded into Africa said that understanding the unique local context is also crucial, including the technological maturity of each country. (AP Photo/Tsvangirayi Mukwazhi)
Fabian Koh
12 Sep 2023 02:21PM
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SINGAPORE: There are many business opportunities in Africa for Singapore firms including in sectors like the digital economy, manufacturing and sustainability.
However, these come with their own challenges, such as fast-changing regulatory frameworks and foreign currency exchange risks, Mr G Jayakrishnan, executive director for South Asia, Middle East and Africa at Enterprise Singapore, told CNA’s Singapore Tonight on Monday (Sep 11).
Companies that have expanded into the continent said that understanding the unique local context is also crucial, including the technological maturity of each country.
Trade between Singapore and Africa grew 15 per cent each year between 2019 and 2022. As of 2021, Singapore companies had invested over S$32 billion (US$23.5 billion) in the continent.
He added that the hundreds of Singapore firms operating across 40 countries in Africa are in a range of sectors including agribusiness, manufacturing, transport and logistics, and the digital economy.
Mr Jayakrishnan said the digital economy is a very important growth area, as digitalisation has been transformative for the African continent.
It's brought millions of people into the consumer economy. It's made consumption of government services and private sector services that much easier,” he said.
It has also created opportunities for companies in related fields, such as those providing cybersecurity, data analytics and ecommerce platforms services.
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World
Opportunities abound for Singapore firms in Africa as countries urbanise and go digital, but challenges remain
Trade between Singapore and Africa grew 15 per cent each year between 2019 and 2022, with Singapore companies investing over S$32 billion (US$23.5 billion) in the continent as of 2021.
Fabian Koh
12 Sep 2023 02:21PM
BookmarkShare
SINGAPORE: There are many business opportunities in Africa for Singapore firms including in sectors like the digital economy, manufacturing and sustainability.
However, these come with their own challenges, such as fast-changing regulatory frameworks and foreign currency exchange risks, Mr G Jayakrishnan, executive director for South Asia, Middle East and Africa at Enterprise Singapore, told CNA’s Singapore Tonight on Monday (Sep 11).
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Companies that have expanded into the continent said that understanding the unique local context is also crucial, including the technological maturity of each country.
Trade between Singapore and Africa grew 15 per cent each year between 2019 and 2022. As of 2021, Singapore companies had invested over S$32 billion (US$23.5 billion) in the continent.
GROWTH OPPORTUNITIES
Pointing out the investment amount, Mr Jayakrishnan said: "That makes us among the top 10 foreign investors into Africa."He added that the hundreds of Singapore firms operating across 40 countries in Africa are in a range of sectors including agribusiness, manufacturing, transport and logistics, and the digital economy.
Mr Jayakrishnan said the digital economy is a very important growth area, as digitalisation has been transformative for the African continent.
It's brought millions of people into the consumer economy. It's made consumption of government services and private sector services that much easier,” he said.
It has also created opportunities for companies in related fields, such as those providing cybersecurity, data analytics and ecommerce platforms services.
https://sbr.com.sg/economy/news/singapore-bridge-africa-asia-trade-minister-yong
Singapore could bridge the Africa-Asia trade despite the tepid investments seen from African investments, according to Minister for Trade and Industry Gan Kim Yong
During a keynote speech at the Africa Singapore Business Forum yesterday, the minister further emphasised that there is “potential for growth” whilst stating that Singapore could be a catalyst in connecting the trade segment of the regions.
He shared that Africa's trade with Southeast Asia makes up only 2.2% of the latter's total global trade.
Yong also said Singapore has established trade relationships with almost every African country. Prime Minister Lee Hsien Loong's visits to Rwanda, South Africa, and Kenya have further strengthened these bilateral ties, including business connections.
Singapore to bridge Africa-Asia trade – Minister Yong
Singapore has about 100 companies operating in 40 African countries.Singapore could bridge the Africa-Asia trade despite the tepid investments seen from African investments, according to Minister for Trade and Industry Gan Kim Yong
During a keynote speech at the Africa Singapore Business Forum yesterday, the minister further emphasised that there is “potential for growth” whilst stating that Singapore could be a catalyst in connecting the trade segment of the regions.
He shared that Africa's trade with Southeast Asia makes up only 2.2% of the latter's total global trade.
Yong also said Singapore has established trade relationships with almost every African country. Prime Minister Lee Hsien Loong's visits to Rwanda, South Africa, and Kenya have further strengthened these bilateral ties, including business connections.
https://www.google.com.sg/amp/s/www...nyas-investment-treaty-comes-force?amp?espv=1
A TREATY between Singapore and Kenya, drawn up to promote greater investment flows between the two countries, entered into force on Sunday (Aug 20).
Under the bilateral investment treaty signed in 2018, Singapore companies operating in Kenya – the largest economy in the East Africa Community – will have protection on their investments on top of that already accorded under Kenya’s domestic laws.
Investors from both countries will have fair and equitable treatment, and full protection and security, based on customary international law.
Other benefits include non-discriminatory treatment compared to other foreign investments, protection from illegal seizure of property, and the freedom to transfer capital and returns in and out of the country.
Kenya was Singapore’s ninth-largest trading partner in Sub-Saharan Africa last year, generating S$212.2 million in bilateral trade of goods.
A TREATY between Singapore and Kenya, drawn up to promote greater investment flows between the two countries, entered into force on Sunday (Aug 20).
Under the bilateral investment treaty signed in 2018, Singapore companies operating in Kenya – the largest economy in the East Africa Community – will have protection on their investments on top of that already accorded under Kenya’s domestic laws.
Investors from both countries will have fair and equitable treatment, and full protection and security, based on customary international law.
Other benefits include non-discriminatory treatment compared to other foreign investments, protection from illegal seizure of property, and the freedom to transfer capital and returns in and out of the country.
Kenya was Singapore’s ninth-largest trading partner in Sub-Saharan Africa last year, generating S$212.2 million in bilateral trade of goods.
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