In 2020, EU Gateway | Business Avenues organises 10 new business missions for European companies interested in expanding to Asia.
One of these missions is designed for the Construction & Building Technologies sector, and particularly on companies that are planning on trading in Singapore and the Philippines.
Why has South East Asia been chosen for this mission?
The region is rich in opportunities for companies that offer green, cost-efficient, innovative technologies and materials related to the engineering, design, construction, demolition, and finishing of public and private buildings, as well as the renovation and demolition of infrastructure like roads, airports, ports, etc.
In Singapore, the Building Construction Authority (BCA) estimates investments between €17.9 billion and €23.2 billion per year until 2023.
In the Philippines, the Asia Development Bank forecasts yearly infrastructural spending of around €1.52 billion until 2030.
Between the two markets, an estimated €160 billion will be invested in infrastructure in this decade.
In this favourable climate, European companies can contribute to the growth of the construction & building sector in many ways.
Projects in Singapore focus on public and transportation infrastructure like railway, roads, airports, as well as urban development, public healthcare infrastructure and industrial builds.
In these sub-sectors especially, foreign companies can make a difference. They are invited to add to a limited local workforce and help improve the construction processes’ efficiency, sustainability, energy-efficiency and durability.
An emphasis is placed on new constructions that are pushing architectural boundaries and take into consideration Singapore’s limited horizontal construction space, but more accommodating vertical growth.
The Singaporean market is also the right place for modern designs that aren’t harmful to the environment.
Constructions that are “green” or resource-efficient throughout the entire lifecycle (construction, maintenance, renovation, demolition) are highly sought after in Singapore.
Local experts highlight that at present there is a need for smart buildings, materials and technologies that support efficiency and productivity, environment-focused technologies, such as noise and dust abatement technologies, construction site water recycle technologies, and Integrated Digital Delivery (IDD) processes or building information modelling (BIM) solutions to plan and optimize fabrication processes of building components.
The Philippines is another market that prioritises urban and public infrastructure development.
The local government started multiple programmes to boost investments and build momentum in the sector moving into the new decade.
The Build, Build, Build programme revolves around construction, operation and management projects in the transportation sub-sector, including projects for the national railway, subway, and the Clark International Airport.
New sustainable urban development projects are rising to prominence too.
The New Manila Bay and the New Clark City are two projects that are likely to require construction & building solutions from pioneering local and foreign companies alike.
Ready to help Singapore and the Philippines develop new construction projects?
Now that you’re aware of the opportunities on the two markets, all that’s left to do is to apply to our next mission!
50 European companies will be selected for this particular EU-funded mission.
The programme helps participants tie up with local experts, companies and public entities and find reliable customers and partners.
They also get to learn more about opportunities for growth in the region and how to successfully start selling their products and services in South East Asia.
Read more about the mission here and apply before 19 June 2020.