The NSW Government will enhance trade and investment opportunities with Singapore through a new Memorandum of Understanding (MoU) focused on innovation and the green economy.
The MoU between Investment NSW and Enterprise Singapore - a statutory board under Singapore's Ministry of Trade and Industry - was signed today in Sydney, coinciding with Singapore Prime Minister Mr Lawrence Wong's visit to Australia, and 60 years of diplomatic relations between the two nations.
The MoU will focus on sectors including energy, urban development, technology and transport, and will facilitate commercial partnerships between NSW and Singaporean companies, investors and entrepreneurs.
Key benefits of the MoU include:
- Encouraging investment from Singapore businesses into New South Wales.
- Enhancing NSW's role as a home for Singapore startups and high-growth companies.
- Attracting innovators, entrepreneurs and scientists from Singapore to NSW's innovation districts including Tech Central.
- Enabling NSW exporters to become early-movers in high-growth Southeast Asian markets.
The MoU aligns with the NSW Trade and Investment Strategy 2035, which emphasises government-to-government relationships and maintaining strong formal agreements in priority markets.
Partnerships like this, which focus on Southeast Asia's technological advancements and economic growth, provide a strong foundation for the NSW Government's longstanding relationship with the region to expand and deepen.
Minister for Industry and Trade Anoulack Chanthivong said:
"This deal reflects our commitment to building deeper economic ties with Singapore through practical, forward-looking collaboration.
"It will help unlock new opportunities for NSW businesses in one of Southeast Asia's investment hubs and fast-growing innovation sectors.
"This is a priority market replete with longstanding and likeminded trading partners.
"By working together, we're strengthening our collective competitiveness, and creating new investment pathways for the future.
"The Australian Government has done a fantastic job strengthening our national relationship with Singapore, clearing the way for important agreements like these."
Investment NSW Deputy Secretary Rebecca McPhee said:
"This agreement is a strategic step in delivering the NSW Trade and Investment Strategy 2035, with a clear focus on continued international engagement to drive innovation, sustainability and commercial outcomes.
"It will enable NSW companies to scale into new markets and attract Singaporean talent and investment into our state.
"We're proud to partner with Enterprise Singapore to turn shared ambition into tangible growth."
Enterprise Singapore Managing Director Cindy Khoo said:
"Over the years, Singapore enterprises have grown their presence in NSW, leveraging the state's vibrant innovation ecosystem and push for decarbonisation, alongside the strong support of our partner and government networks in the market.
"With this latest partnership, we look forward to unlocking even more commercial opportunities and progress in areas of green economy and innovation.
"I am confident that Singapore companies will make good partners, contributing expertise that can complement and support NSW businesses' in their growth ambitions. These include providing proven innovative solutions and bringing with them relevant experience in Southeast Asia that can help open doors for NSW businesses to expand into the region."
