MNCs and Singapore’s local firms tie up for win-win outcomes as they scale across Asia

In the first half of 2026, multinational corporations (MNCs) from various industries have expanded their activities in Singapore, establishing new partnerships or expanding existing ones. These companies were attracted to Singapore due to its stable business environment, competitive ecosystem, connectivity to growth markets, access to skilled talent and government funding for research and development (R&D).

The Republic of Singapore provides a diverse range of capable partners for MNCs, including 370,000 SMEs, 4,500 tech startups, and 78 public research institutes. This ecosystem offers numerous opportunities for collaboration across industry value chains, enabling MNCs to enhance their supply chain resilience, accelerate AI adoption, achieve cost savings, and speed up product launches.

Local enterprises have also benefited from the presence of MNCs. A study by the Ministry of Trade and Industry revealed that exposure to Economic Development Board (EDB) firms improved the quality of the workforce in Singapore, leading to increased economic value, productivity, local employment, and wages for non-EDB firms.

MNC partnerships have prompted local enterprises to refine their technologies and capabilities to meet stringent sourcing requirements. Additionally, these collaborations have allowed local firms to expand their customer base and build capabilities that meet global industry standards. Examples of successful partnerships include Pratt & Whitney Component Solutions collaborating with Applied Total Control Treatments to develop high-performance electroplating for aerospace maintenance, and Sanofi partnering with Magorium to recycle used insulin pens, reducing environmental impact while leveraging technology for new business opportunities.