Horizon Singapore

Singapore embodies the convergence of stability, innovation and openness. In just a few decades, the city-state has built at breakneck speed one of the most competitive economies in the world, based on rigor, trust and performance.

A true regional hub, it connects Asia to major global markets and attracts a dense ecosystem of investors, researchers, and entrepreneurs. Sustainable finance,
Advanced technologies, health, energy, cybersecurity: each sector finds fertile ground for growth.

For French companies, establishing a presence there means accessing a regional market of over 600 million people. It is towards this laboratory of the future that we have been building entrepreneurial bridges for the past 10 years, with Bpifrance based in the heart of Singapore.

Olivier Vincent – ​​Executive Director in charge of Export – Bpifrance

KEY FIGURES

• Population : 6,1 million inhabitants
• GPD : 265 billion (in USD)
• 32ème world economic power
• Currency Singapore Dollar (SGD)
• Exchange rate regime : stabilized

COUNTRY RISKS

• High external dependence Singapore's economy remains heavily dependent on foreign demand, particularly from China and the United States, making it vulnerable to global economic downturns.
• Job vulnerability Demographic aging, migration restrictions and the rapid evolution of required skills are leading to a talent shortage, particularly in the technical and digital sectors.
• Geopolitical tensions Trade tensions with the United States could lead to higher tariffs, impacting the competitiveness of Singaporean exports.
• Slowing Growth : After +4,4% in 2024, GDP growth is expected to be limited to +1,7 to +2,6% in 2025, due to the decline in global trade and demand from key partners.

AREA OPPORTUNITIES

• Towards a decrease in inflation Inflation is expected to slow to +1,3% in 2025, thanks to lower oil and food prices, as well as government subsidies that reduce the cost of essential services.
• Political stability Singapore benefits from lasting political stability and an attractive business environment, supported by quality infrastructure and strong economic openness, making it a prime destination for investment.
• Carbon neutrality Singapore aims for carbon neutrality by 2050 despite its heavy reliance on natural gas, thanks to an active climate policy and a significant capacity for adaptation.
• Business climate Singapore remains attractive thanks to its tax incentives and strategic positioning, despite challenges related to cybersecurity, high costs and restrictions on foreign labor.

To discover the full content, check out our edition Horizon Singapore.