Singapore is hoping to become the preferred country for doing Business with Africa as it courts the attention of businesses at the Africa Singapore Business Forum.
Over two thousand businesses and government leaders on the continent are attending the summit which opened on the 28th of August in Singapore. Paramount on the agenda is the new growth opportunities in Africa, digital economy and Manufacturing Industry for Singapore companies.
Statistics reveals Africa’s agri food manufacturing sector for example presents tremendous market potential for Singapore companies across the value chain. Organizers of the Forum , Enterprise Singapore are hoping to use the event to address critical issues and identify opportunities in key sectors, including infrastructure, real estate, manufacturing, digital technology, and oil and gas, among others.
The Africa Singapore Business Forum which started in 2010,also seeks to foster investment, trade and thought leadership between Asia and Africa. According to Singstat, foreign direct investment from Africa into Singapore amounted to $27.4 billion in 2016.Over 60 Singaporean firms operate in Africa, ranging from food manufacturing to digital payment services, and Enterprise Singapore – the government agency which helps businesses internationalize – is working to increase that number.
Source: Ghana/Starrfmonline.com/Fred Dzakpata