Venture to Germany with IE Singapore
Europe's largest economy
With a GDP of US$3.5 trillion1, Germany is the largest economy in Europe with core strengths in manufacturing and exports, and backed by a highly-skilled workforce. Since the mid-1990s, manufacturing's share of GDP has generally held steady at 22-23%2, Singapore companies can capitalise on this sector’s reliability by providing outsourcing services to German manufacturers in areas such as medical technology, aerospace, food, furniture, and offshore wind energy.
Singapore’s strong brand
German companies have a favourable perception of Singapore companies thanks to our reliability, quality and strong intellectual property (IP) controls. This is a distinct advantage for Singapore companies venturing into Germany.
Collaborations for the region
Besides venturing to Germany, what about helping our German counterparts enter Singapore? German firms have shown interest in partnering Singapore companies to build up technological capabilities here. Possible models of collaboration include mergers and acquisitions, technology licensing, distributorships, joint ventures, contract manufacturing, and setting up engineering centres to provide technical support to customers in the region.
Venture to Germany
Germany is Europe’s largest economy and Singapore’s ninth largest trading partner, with total trade amounting to almost S$20 billion in 2016. It is among the most innovative countries in the world, and a world leader in auto manufacturing, transportation infrastructure, and green technology.
1: CIA World Factbook, 2016
2: World Bank