Catenaa, Saturday, January 4, 2025 – Nearly 70% of Chinese companies in Singapore have rated the local business environment as “excellent,” citing factors like efficient government services, a favorable tax system, and seamless international trade, according to a report by the China Enterprises Association (Singapore) released Monday, December 30.
The findings, unveiled during the Fifth China-Singapore Economic and Trade Cooperation Forum, show strong optimism among Chinese enterprises. About 60% of surveyed companies expressed plans to expand investments in Singapore and the region, with 74% anticipating continued growth in local investments.
Singapore’s strategic location was a key factor, with 91% of respondents highlighting its value as a gateway to Southeast Asian markets. Additionally, 54% of firms reported that Singaporeans constitute over 60% of their workforce, reflecting significant contributions to the local economy. Companies also noted advancements in technology, services, and green development as areas of impact.
Despite the positive outlook, challenges remain. Intensifying market competition was a concern for 86% of respondents, while 72% cited talent shortages as a hurdle. Many called for increased governmental and institutional support to address these issues.
The report is based on a mid-2024 survey of over 100 Chinese enterprises across diverse sectors, showcasing the growing integration of Chinese businesses into Singapore’s economic landscape.
