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(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.
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