INTERNATIONAL TRADE
Singapore island M25
motorway
‘The government funds training for workers to refine their skills so that they remain relevant in the digital economy’
This is all part of Singapore’s long-term strategy, according to Acconci. “In the past, the government wanted to attract fi rms such as Rolls-Royce, which then set up maintenance and production facilities here. Today, it’s focusing on everything tech-related instead,” he says.
Fintech is thriving in particular. The sector’s expansion has been hugely benefi cial for UK fi ntech recruitment specialist Nicoll Curtin since it opened offi ces in Singapore in 2011. “Many of our clients are new-growth companies that have chosen Singapore as a base from which to expand in the region,” reports its group CEO, James Johnson.
TRANSPORTS OF DELIGHT
Singapore spends 12.5 per cent of its income on transport infrastructure, compared with the UK’s 1.9 per cent. This presents signifi cant opportunities for British fi rms offering architectural, engineering and construction services.
In 2013 the Land Transport Authority published plans to double the length of Singapore’s fi ve-line Mass Rapid Transit (MRT) rail network by 2030, through both extensions and the construction of three new routes. The fi rst stage of the Thomson- East Coast Line is on track to start operating this year. Meanwhile, a fi fth terminal is being built at Changi Airport on a site exceeding 1,000ha, including reclaimed land. Scheduled for completion in 2030, it will be able to handle 50 million passengers a year. London-based architect Heatherwick Studio is part of the design consortium.
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Singapore’s big investment in education, which began under the leadership of Lee Kuan Yew (LKY), has been key to the nation’s development. Consistently topping the OECD’s international rankings of 15-year-olds’ performance in literacy, maths and science, it offers an impressive array of graduate talent, particularly in Stem subjects. What’s more, there’s ample public money for learning after university. “The government funds training for workers to refi ne their skills so that they remain relevant in the digital economy,” says Chris Frost, the founder of Cogs Agency, a London- based headhunting fi rm that opened a Singapore offi ce fi ve years ago.
But the city state is short of talent in one important area, according to Acconci. “Singapore’s schooling system is one of the world’s best, but it is lacking in aspects of creativity and thinking outside the box,” he says. “The whole region is thirsty for that expertise. If British companies can bring it here, they’ll be successful.”
Not content with its achievements in technology, infrastructure and education, Singapore wants to
director.co.uk 35 Master planner:
Lee Kuan Yew served as PM for eight consecutive terms in 1959-90
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