Belgian firms keen on setting up operations or expanding presence in Singapore

Key Concepts:

• Belgian businesses expansion into Singapore
• Singapore's good governance, stability, and business resilience
• Collaboration opportunities in energy, waste treatment, and special materials
• Geopolitical tensions and the need for stability
• Inclusion and youth empowerment
• Weakening sense of community in advanced societies
• Importance of humility, community, and volunteerism

Belgian Businesses Exploring Singapore Expansion

Belgian businesses are considering expanding or establishing operations in Singapore. This interest stems from Singapore's attractive business environment, characterized by good governance, stability, and resilience. President Tharman Shanmugaratnam met with over 30 Belgian companies during his state visit to discuss these opportunities.

Similarities Between Belgium and Singapore

Both Belgium and Singapore are small, open economies where trade plays a crucial role. These similarities make Singapore a natural choice for Belgian companies seeking international expansion.

Collaboration Opportunities in Emerging Sectors

The Federation of Enterprises in Belgium highlights potential collaboration areas between Belgium and Singapore, including:

• Energy: Exploring renewable energy sources and energy efficiency technologies.
• Waste Treatment: Developing advanced waste management and recycling solutions.
• Special Materials: Researching and producing innovative materials for various industries.
• Alternative Energy: Investing in and developing alternative energy sources.

These sectors represent significant growth opportunities for both countries.

Stability as a Key Factor

In a world marked by geopolitical tensions, stability is a crucial factor for businesses. Belgium and Singapore both offer stable environments, making them attractive locations for investment and expansion. As stated by a representative of the Federation of Enterprises in Belgium, "if there is one thing that's important for uh employers is stability and so in a world with geopolitical tensions for the moment we need stability in Belgium we have stability in Belgium and we have stability in Singapore."

Meeting with Non-Profit Organizations

President Tharman also engaged with several non-profit organizations focused on inclusion and youth empowerment. These organizations work with young people, including those with criminal convictions, immigrants, and individuals from disadvantaged backgrounds.

Addressing Vulnerabilities in Advanced Societies

In his opening speech, President Tharman acknowledged the challenges of addressing vulnerabilities in even the most advanced societies. He noted that the sense of community is declining, with more people operating independently.

The Weakening of Community

President Tharman emphasized that while individual independence might be seen as a sign of progress, it can also lead to a weakening of the social fabric. He stressed the importance of humility and the need to revitalize community engagement and volunteerism. As stated by Mr. Tharman, "the sense of community has become less and less with more people doing things on their own while this might be a version of an advanced society Mr tman says it's also a weakening one."

Conclusion

The meeting between President Tharman and Belgian business leaders underscores the growing interest in Singapore as a hub for international expansion. Singapore's stability, good governance, and opportunities for collaboration in emerging sectors make it an attractive destination for Belgian companies. Furthermore, President Tharman's engagement with non-profit organizations highlights the importance of addressing social vulnerabilities and fostering a stronger sense of community in advanced societies.