ICT to Singapore
(Last updated: 5 Oct 2011)
Trends and opportunities
ICT business opportunities
Mobile content
- Digital media and entertainment
Broadband – Next Generation Nationwide Broadband Network (Next Gen NBN)
- Wi-Fi and 3G
- Next generation technologies and services
Financial IT
- Mobile banking
- Compliance solutions
- Encryption
- Securities transactions
- Online trading
- Banking security
- Biometrics
- Risk management
Health IT
- e-Health
- Bio-medical sciences
- Advanced laser technology
IT services
- IT/technical training and IT consulting
- Software and hardware development
- Data centre/storage
- Web services
Why is this market attractive for Australian companies?
- Singapore has a diverse ICT industry comprising companies specialising in hardware, software, IT services, telecommunication services, and content services. Singapore’s universities and polytechnics also provide ongoing infocomm training, making available the pool of human resources needed by the ICT industry.
- The Singapore-Australia Free Trade Agreement (SAFTA), effective since 28 July 2003 offers good opportunities goods and services to a wide range of Australian exporters. In addition to tariff elimination, the agreement improves increased market access for Australian exporters of services, particularly education, environmental, telecommunications, and professional services.
- Sound legal and regulatory environment for ICT development; Singapore has put in place the Singapore Computer Misuse Act (CMA 1993) and enacted the Spam Control Act (2007).
- Singapore adopts a technology-neutral and pro-competition approach to doing business. There is an increasing awaremness about the availability of different types of software, including open source software. Both open source and commercial software solutions are deployed in industry and the government sector in a complementary manner.
- Excellent business infrastructure and skilled work force; good English-speaking population.
Marketing your products and services
Top tips to be successful in Singapore:
- There needs to be a continuous follow up plan with potential customers in Singapore. It also shows you are keen to do business in Singapore.
- Usage and exchange of business/name cards is standard in all business introductions in Singapore.
- Businesses will have to be efficient in order to complement and compete with the high competiveness in the Singapore market.
How does doing business in Singapore differ from Australia and what do Australian companies need to do in approaching this market?
- Competition is keen. Australian companies need to offer Singapore products and services that are unique, offer tangible ‘value-add’ and are of a world-class standard.
- It is important to have relevant reference sites in Australia/other markets. Companies need to demonstrate a strong technical and marketing knowledge of their products and services.
- The lead time from initial enquiry to sales success could take 12-24 months and business costs are relatively high.
Key ICT events in Singapore
CommunicAsia2011: 21-24 June 2011
There was an Australian National Pavilion at CommunicAsia2011. For further information, please visit www.austrade.gov.au/Local-Sites/Singapore/Events/CommunicAsia2011
Links and industry contacts
ICT-related resources
Infocomm Development Authority of Singapore – www.ida.gov.sg
Media Development Authority – www.mda.gov.sg
Singapore Infocomm Technology Federation – www.sitf.org.sg
Agency for Science Technology and research (A*STAR) – www.a-star.edu.sg
Infocomm Singapore portal – www.infocommsingapore.sg
Service Providers (telcos)
Singtel – www.singtel.com
Starhub – www.starhub.com
MobileOne – www.m1.com.sg
Nucleus Connect – www.nucleusconnect.com (Nucleus Connect is Singapore’s Next Gen NBN Operating Company)
OpenNet – www.opennet.com.sg (The OpenNet consortium provides passive fibre grid services for Singapore's Next Generation National Broadband Network ("NGNBN")
Contact details
The Australian Trade Commission – Austrade – is the Australian Government’s trade, investment and education promotion agency.
Through a global network of offices, Austrade assists Australian companies to grow their international business, attracts productive foreign direct investment into Australia and promotes Australia’s education sector internationally.
For more information on how Austrade can assist you, contact us on:
Australia ph: 13 28 78 | Email: info@austrade.gov.au
A list of Austrade offices (in alphabetical order of country) is also available.