Market Opportunities
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We see strong opportunities for U.S. exporters in the following industry sectors in the country:
- Energy and Environmental Technologies
- ICT and Digital Technologies
- Healthcare and Medical Technologies
- Aviation and Defense Technologies
The following are major infrastructure projects, significant government procurements, and business opportunities in Singapore:
- Singapore’s Next Generation Port Vision for Tuas Terminal will be constructed in 4 Phases. Phase 1 and Phase 2 tenders have already been awarded. There will be two more phases before port completion in 2040.
- Advanced water technology and infrastructure in areas such as rainfall monitoring, innovative solutions for coastal protection, and real-time identification of prohibited organic compounds in sewers.
- To raise the use of solar energy to between 1.5 and 2.0 GW peak at the end of the decade by installing more solar panels on reservoirs and roof tops to generate electricity to lower carbon emissions.
- Singapore Power’s US$22.55 million Center of Excellence is seeking to develop next generation network technology for better reliability and efficiency for electricity/gas transmission and distribution over the next decade.
- As part of 2050 net zero and decarbonization objectives, Singapore is looking at ammonia / hydrogen bunkering, importing electricity generated from renewable energy sources from neighboring countries, and the possible use of small modular reactors.
- Deep Tunnel Sewerage System Phase 2 targeted for completion in 2026.
- The Singapore Government recently announced that they would spend US$2.5 billion (S$3.3 billion) on info-communications technology (ICT) in 2023.
- In the recently announced Digital Connectivity Blueprint the Government will look to double submarine cable landings within the next 10 years and build seamless end-to-end 10Gbps domestic connectivity within the next 5 years.
- More polyclinics will be built, bringing the total to 32 by 2030.
- Redevelopment of Singapore’s oldest and largest hospital which will be renamed SGH Campus, is set to take place from 2025 to 2035.
- Additional nursing homes will be built with more than 1,070 beds added. Plans are to double the number of beds to more than 31,000 over the next decade.
- Other infrastructure projects include the redevelopment of Alexandra Hospital and Tan Tock Seng Hospital. These projects are scheduled to progressively come on stream between 2022 and 2036.
- Construction of Singapore’s Changi Airport Terminal 5 and a third runway scheduled for completion in the 2030s.