Singapore is far from being a secret destination for Israeli businesses. As one of the most advanced and richest cities on the planet, it is an obvious choice for Israeli companies aiming to conquer the world, and in particular Asia.
Israeli businesses are involved in numerous industries in Singapore, with over 20 Israeli companies in the field of cybersecurity alone having opened offices in the sovereign city-state island. But doing business in Singapore is far from straightforward, especially in the times of coronavirus (Covid-19).
Yoav Saidel, head of Israel’s Economic Mission to Singapore. Photo: Gideon Sharon
“Companies are only starting to comprehend what has happened. The GDP will drop in Singapore and across the world, meaning companies will have less money. Less money means less investment in innovation and we are already seeing some companies in Singapore that aren’t as available as they used to be to hear about new products and technologies from Israel,” Yoav Saidel, head of Israel’s Economic and Trade Mission to Singapore told CTech last week. “But while we are seeing an overall drop in interest, we at the mission are trying to identify where there are still opportunities and increase our proactive work there. Fields like cybersecurity are more relevant now than ever.”
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