MNCs and Singapore’s local firms tie up for win-win outcomes as they scale across Asia
Providing global companies with an ecosystem of capable partners is key to the Republic’s competitiveness.
The Republic of Singapore has successfully attracted global enterprises such as Viatris, Maersk, Mindray, Revolut, Nvidia, and Quantinuum to establish or expand their business activities in the country during the first half of 2026. These companies were drawn to Singapore due to its stable business environment, robust supply chain, access to skilled talent, and government funding for research and development (R&D).
Singapore's thriving ecosystem of small and medium-sized enterprises (SMEs) and tech startups, numbering close to 370,000 and 4,500 respectively, provides MNCs with a diverse pool of capable partners to address their business challenges. This ecosystem also contributes to supply chain resilience, accelerated adoption of artificial intelligence, cost savings, and faster market entry for products.
Local firms have also benefited from the presence of MNCs. A study by the Ministry of Trade and Industry in November 2025 revealed that exposure to Economic Development Board (EDB) firms, comprising global enterprises in manufacturing and tradable services, improved workforce quality and productivity in Singapore. The increased interaction between MNCs and local enterprises led to enhancements in local operations and capabilities to meet stringent sourcing requirements.
Local enterprises have also been able to refine their technologies to cater to the scale of production demanded by larger players, ultimately expanding their customer base.
To facilitate such collaborations, the Economic Development Board (EDB) and Enterprise Singapore (EnterpriseSG) actively engage both MNCs and local enterprises. They act as a bridge between the two parties, helping them identify needs, make connections, and foster understanding. The government offers funding through the Partnerships for Capability Transformation (Pact) scheme to defray partnership costs and the Corporate Venture Launchpad initiative connects corporates with startups to explore new growth opportunities.
Furthermore, the Singapore Manufacturing Federation (SMF) hosts the MNC-Local Enterprise Alliance, promoting advanced manufacturing technologies and new business opportunities.
Written by urgent.news from Straits Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
