Opportunities in Australia & Singapore
Event: 4th December 2009, 8.45am – 11.30am
Venue: World Trade Centre Hull & Humber
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Singapore
Designated one of UKTI's High Growth Markets, Singapore is the UK’s largest trading partner in South-East Asia and one of its largest export markets outside Europe. The UK is also the largest investor in Singapore with over 700 UK companies based there.
Ranked number one globally by the World Bank in it’s ‘Ease of Doing Business’ report, Singapore constitutes an ideal springboard to South- East Asia.
Australia
The UK is the largest foreign investor in Australia and its fifth biggest trading partner. The UK and Australia have a deep political and economic relationship, co-operate closely on international affairs, share common legal systems and languages. Opportunities in particular exist for companies in renewable energy, financial services, mining, gas and oil exploration, ICT, biotechnology, food and drink.
Businesses joined experts at World Trade Centre Hull & Humber to find out opportunities in Australia & Singapore.
Specialists in the Australian and Singapore markets from UKTI and KPMG will revealed opportunities for businesses in these markets. Hull-based Tribal Group shared their experience of the Australian market and Personal Care Programme shared their experience of doing business in Singapore.
Following this, World Trade Centre Hull & Humber partners were on hand to help get started, including UKTI, Language is Everything, legal experts Andrew Jackson and tax and financial advisors.
Further Information:
Singapore: the opportunities
Advanced engineering and manufacturing – opportunities in packaging machinery, advanced materials and machine tools and metrology.
Creative industries and design – Singapore has established itself as one of the world’s top locations for testing new products, with many companies choosing the island as a base for design operations.
Education & training – this is the second largest item in Singapore's budget, as the country has moved from being a low-cost manufacturing location towards higher value-added activities. Opportunities exist for collaborations in niche areas.
Environment – opportunities for a variety of consultancy services, from environmental impact assessments and environmental auditing to environmental management systems.
Financial & professional services - to encourage companies to use Singapore as the base for HQ activities, a new tax incentive scheme has launched designed to help partnership businesses such as human capital development; legal and arbitration services; audit, accounting and management consultancy firms.
Healthcare - seeking to establish itself as a leader in this field, opportunities for British companies are abound. The well-funded public and private sectors are constantly updating facilities and services. The focus is on research in stem cell, ononology, bioimaging and biologics. By developing the entire value chain, Singapore aims to significantly increase manufacturing output.
ICT – the Government offers attractive incentives to both adopters and innovators of ICT technology who can help secure Singapore’s place as a robust, knowledgebased centre.
Oil & gas – opportunities to supply advanced materials as Singapore is one of three global hubs in oil & gas equipment manufacturing. Particular activity in the R&D of materials and controls for deepwater applications.
Ports & logistics - 50% of the world's trade and one third of the world's oil supply pass through the Straits of Melaka and Singapore. Financial incentive schemes have been set up to attract international ship owners and operators, complementary logistics operators, charterers, brokers, banks, insurers and lawyers.
Australia: the opportunties
Biotechnology - Australia is ranked number 6 in the world in the biotechnology market behind the US, Canada, Germany, the UK and France. With rapidly increasing financial support from the Commonwealth and State Governments, this has generated very competitive attitudes to securing the best facilities and staff to attract overseas companies to Australia for research, partnerships and financial opportunities.
Environment and renewable energy - There are, and over the short to medium term will be, significant prospects for exporting and/or direct investment in the Environmental Goods and Services markets of air pollution control, solid and hazardous waste management, wastewater and water treatment, environmental monitoring and in advanced fossil/clean coal technology, carbon capture and storage, low carbon fuels and renewable energy.
Financial services - Australia is home to one of the world’s largest financial centres, with particular hubs in Melbourne and Sydney. Opportunities exist for offering professional and advisory services to these companies.
Food and drink - There is a demand for the supply of equipment and technology. In addition, there is a strong expat market for British food and drink.
Mining, gas and oil exploration - Australia has one of the largest extractive industries in the world. The expenditure on new projects, primary plant and equipment offers significant opportunities for UK suppliers that can meet the demanding conditions of this sector. In the wake of a new wave of outsourcing, services to the oil and gas industry are expected to grow even faster. Two major growth themes are provision of 'life of asset services' from engineering through to maintenance and deep-water technology products and services.