Enterprise Estonia opens representation in Singapore
Enterprise Estonia (EAS) is opening a representation in Singapore on Wednesday whose aim is to boost exports to Southeast Asian countries, increase the number of Estonia's e-residents as well as attract foreign investments from the region.
According to EAS; Estonian Minister of Entrepreneurship Liisa Oviir and Singapore's Minister of Trade and Industry Koh Poh Koon are to attend the opening of the representation. Oviir is accompanied by a delegation of representatives of 30 Estonian companies.
During Oviir's visit, Estonian honorary consuls of the Asian and Pacific region will be meeting in Singapore as well.
"EAS' priority is to seek new business opportunities for Estonian companies and find new markets," said EAS' Chairman of the Management Board Hanno Tomberg in July. "The Singaporean business culture is English-speaking, which simplifies entry into this market. In addition, investment funds there are seeking investment opportunities in Europe and our startups have caught their eye."
The Southeast Asian representation will be established for a period of two years initially to develop export to and attract investments from Indonesia, Malaysia and Singapore. EAS is sending to Singapore the director of its investment agency, Indrek Pällo, who has previous experience doing the same work for Danish and British trade representations in the Baltic States.
Estonia's Honorary Consul in Singapore Sonny Aswani also contributed to the opening of the representation — his Tolaram Group offered EAS office space. Southeast Asia presents new opportunities to Estonian businesses who wish to enter large and attractive markets, said Aswani.
150,000 euros have been budgeted for the Singapore office's expenses in 2017.
Preparations for Prime Minister Taavi Rõivas' visit to Singapore during the first half of 2017 are also underway.