NSW and Singapore Strengthen Economic Ties with New MoU
Sydney, Australia – Investment NSW and Enterprise Singapore have signed a Memorandum of Understanding (MoU) today in Sydney, coinciding with Singapore Prime Minister Lawrence Wong’s visit to australia and teh 60th anniversary of diplomatic relations between the two nations.
The MoU will foster commercial partnerships between New South wales (NSW) and Singaporean companies, investors, and entrepreneurs, focusing on key sectors including energy, urban growth, technology, and transport.
Key benefits of the agreement include:
* Increased investment from Singaporean businesses into NSW.
* Enhanced opportunities for Singaporean startups and high-growth companies to establish a presence in NSW.
* Attraction of Singaporean innovators,entrepreneurs,and scientists to NSW’s innovation districts,such as Tech Central.
* Support for NSW exporters to expand into high-growth Southeast Asian markets.
This partnership aligns with the NSW Trade and Investment Strategy 2035, emphasizing strong government-to-government relationships and formal agreements in priority markets. It builds on the existing strong relationship between NSW and Southeast Asia, providing a foundation for future growth and collaboration.
NSW Minister for Industry and Trade, Anoulack Chanthivong, stated: ”This deal reflects our commitment to building deeper economic ties with Singapore through practical, forward-looking collaboration. It will unlock new opportunities for NSW businesses in a key Southeast Asian investment hub and innovation sector.By working together, we’re strengthening our collective competitiveness and creating new investment pathways for the future.”
Investment NSW Deputy Secretary, Rebecca McPhee, added: “This agreement is a strategic step in delivering the NSW Trade and Investment Strategy 2035, driving innovation, sustainability, and commercial outcomes. It will enable NSW companies to scale into new markets and attract valuable Singaporean talent and investment.”
Enterprise singapore Managing Director, Cindy Khoo, highlighted the existing presence of Singaporean enterprises in NSW, leveraging the state’s innovation ecosystem and decarbonisation efforts. “With this latest partnership, we look forward to unlocking even more commercial opportunities, especially in the green economy and innovation. Singapore companies are well-positioned to support NSW businesses’ growth ambitions with proven solutions and regional expertise.”
