The case for a base in Singapore

He’s also chief executive officer and a director of Auckland-based engineering company Wellington Drive Technologies (WDT).

He has spearheaded the company’s drive into Asia, rolling out a staged series of moves into the region from an initial hub in Singapore.

WDT designs and manufactures energy-saving electric motors.

They are mostly used in fridges and ventilation systems, and typically use just one third of the energy of conventional motors.

When Green planned his move into Asia seven years ago, Singapore was top of mind.

Most importantly, he wanted to leverage Singapore as a gateway into other Asian countries.

In WDT’s case that has played out into countries as far flung as China, Malaysia and Vietnam.

India, says Green, is on the drawing board.

Why Singapore?

Well, for starters, around 7,500 multinationals have set up shop in Singapore.

Of those, 3,500 have regional headquarters in Singapore.

As Alex Matheson, New Zealand Trade and Enterprise’s (NZTE) Singapore-based trade commissioner, says: “This means Singapore provides access to decision-makers and channels that have influence and penetration throughout Asia Pacific.”

If that’s not enough, consider the benefits of geography.

Singapore is central to two of the world’s largest emerging economic powerhouses: China and India.

 And it’s within arm’s reach of most other countries in between.

Then there’s the connectedness angle.

“Although comparatively small – both in geographical size and population – Singapore is the most advanced economy in Southeast Asia,” says Matheson.

“And it’s one of the most connected in the world in terms of capital, logistics and telecommunications.”

On top of that, New Zealand and Singapore have a close economic relationship, including two free trade agreements.

From a business practitioner’s perspective, Green notes the benefits of Singapore being ‘societally’ much closer to New Zealand, Australia, the United Kingdom and the United States than any other Asian country.

It’s also ‘useful’, as Green puts it, that everything works.

“It’s a very efficient place to do business. You can guarantee that stuff will get done.

“Even the way that things like auditing and accounting are done is just like it is in New Zealand: only more efficient.”

Another clinching argument in Singapore’s favour is its positioning when it comes to time zones.

Finally, Green senses an easy relationship between the two peoples.

“Many Singaporeans love New Zealand,” he says.

Discerning market

While the key sectors vary for each country in Asia, a main focus is on premium New Zealand food and beverage products such as our wines, top-end cheeses, olives, salmon, mussels and abalone.

Functional foods are in demand, as is ICT – particularly health and e-payments.

Medical tourism is booming.

Matheson says New Zealand’s food and beverage sector is experiencing good growth in Singapore.

“And we are seeing a growing number of New Zealand technology and services firms establishing a physical presence in Singapore.

“In many cases, these firms are using Singapore as a springboard into the region, and/or have followed their customers to Singapore.”

The Singapore government encourages investment in highly-skilled, high technology areas.

It is especially keen to boost manufacturing – electronics, chemicals and pharmaceuticals receive a fair amount of attention – and the service sectors such as tourism, finance and retailing.