Page 40 - Forbes - Asia (July - August 2018)

SPECIAL ADVERTISING SECTION
SINGAPORE:

A GLOBAL HUB FOR INNOVATION
The city-state’s favorable business environment helps local players realize their full potential both at home and overseas.

Singapore skyline
From the threat of trade wars to continued challenge of new disruptive technologies. the hospitality sector, The Ascott Limited
technological disruption, businesses and Start-ups armed with powerful digital continues to ramp up its global expan-
investors around the world are still coping tools are challenging incumbents across a sion to reinforce its position as one of
with an uncertain and volatile landscape. wide swathe of industries, from healthcare the world’s leading serviced residence
On a brighter note, tensions on the Korean to financial services. owner-operators.
peninsula—the main source of geopolitical Singapore is succeeding in creating a On the domestic front, Singapore’s
risk in the region—appears to have eased conducive environment to attract innova- residential real estate sector is enjoying a
following the historic summit between U.S. tive international start-ups to its shores. revival on the back of stronger economic
President Donald Trump and North Korean Founded in Spain, artificial intelligence growth. In particular, the luxury end of the
leader Kim Jong Un held in Singapore in start-up Taiger relocated its holding com- market is picking up with exciting new devel-
June. Meanwhile, the cyclical upswing in pany, intellectual property and key opera- opments such as V on Shenton and Marina
the global economy that began in 2016 tions to Singapore to take advantage of One in the city’s vibrant downtown area.
continues to become broader and stronger. the city-state’s vibrant innovation eco- Underpinning all this activity is Sin-
Amid this game-changing disruption, system. Local companies such as mobile gapore’s location at the crossroads of
Singapore has positioned itself as a cen- security specialist V-Key and visual search three of the world’s economic growth
ter of innovation and research and devel- solutions provider ViSenze are also making engines—China, India and Southeast
opment at the heart of the world’s most their mark on the global stage with their Asia. The city-state’s continued climb up
dynamic economic region. Government homegrown solutions. the value chain as it works toward becom-
agencies such as the Economic Develop- Meanwhile, companies in traditional ing the world’s first truly digitalized smart
ment Board and the Info-communications industries such as cement manufacturer nation will put it in a good position to
Media Development Authority are proac- Pan-United and fish ball maker Thong Siek benefit from the region’s expansion.
tively supporting companies in Singapore are adopting new technologies to stay rel- Global companies and investors look-
by equipping them with resources that can evant amid the digital revolution. ing to ride on the region’s dynamism
help them realize their business goals. Beyond technology, the Singapore would do well to consider using Singa-
At the enterprise level, companies brand continues to resonate around the pore as a springboard to the rest of Asia
across the region continue to face the world in a broad range of industries. In and beyond.

1 Singapore