Venture to Australia with IE Singapore

Australia

Resilient and resourceful

Among the developed economies, Australia has performed consistently well in the past two decades and was largely unscathed by the global financial crisis of 2008/2009. With a stable, open and democratic political and regulatory environment, as well as an open, efficient and transparent legal system, Australia provides a high degree of confidence and certainty for investors.

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Investment-friendly policies

Australia actively encourages direct foreign investment, with the regulatory environment being progressively liberalised since the mid-1980s. In 2016, Singapore was Australia's fifth-largest foreign investor, with total investments amounting to A$80.2 billion1 (S$80.4 billion).

The country has a mature, established, safe and low-risk business environment which Singaporean companies will find relatively easy to navigate. In 2015, its FTA with China was the latest in a string of agreements with key Asian trading partners, opening up more business and investment opportunities, especially in the export sector.

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Highly-skilled Workforce

Australia offers a highly-skilled, multilingual workforce, supported by strong tertiary education. Singapore companies entering the market can benefit from a high-quality workforce with entrenched cultural ties to the region. Over 40% of the working-age population have tertiary education2.

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Venture to Australia

The world’s smallest continent was Singapore’s 11th largest trading partner in 2016. The service sector, including tourism, education and financial services, accounts for about 70% of Australia’s GDP3, although the country is also a major exporter of agricultural products, minerals and energy.

1: Singapore Ministry of Foreign Affairs
2: The Organisation for Economic Co-operation and Development, 2016
3: CIA World Factbook, 2016

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Geography:

6 states - New South Wales (NSW), Victoria (VIC), South Australia (SA), Western Australia (WA) , Tasmania (TAS), Queensland (QLD)

2 territories - Northern Territory (NT) and Australian Capital territory (ACT)

Population: 23.2 million (est. July 2017)

Ease of Doing Business Ranking:  14th (June 2017)

Economic Freedom Ranking: 5th (2017)

Trading Partner Ranking: 11th

Bilateral Trade: S$18.2 billion (2016)

Currency used: Australian dollar (AUD)

Language: English

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Australia

Geography:

Sydney is Australia’s largest city by population and the country’s economic powerhouse, accounting for about 40% of GDP in 2016 (SGS Economics and Planning, 2017 report). It consists of 649 suburbs and 40 local council areas.

Population: 4.505 million

Source: CIA World Factbook, 2015
Australia-Sydney