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Taiwan and Singapore have not held formal diplomatic relations since 1990 but economic and business links between the two economies remain strong. As global supply chains shift and regional tensions rise, Taiwanese firms and professionals are finding opportunity in Singapore’s stable, globally connected market.
In the latest episode of Zoom In Zoom Out, TaiwanPlus reporters traveled to Singapore to examine how Taiwanese companies and entrepreneurs are navigating business expansion and partnerships in the city-state.
Justin Su, deputy general manager of Topscience, a semiconductor solutions company with a 30-year presence in Singapore, said the city serves as a strategic base for regional growth.
“Singapore has central locations actually giving us to enter the market of ASEAN and also in their market and also Singapore’s stable politics and economic environment actually provide a fertile ground for us to do the business development,” Su said.
Su said the company has diversified its strategies to adapt to regional risks. “We (are) actually doing different strategy based on different regions for Singapore as a transit hub... We are developing a specialty chemical manufacturing and equipment assembly and component cleaning and also (Environment, Science and Governance) related initiatives, such like a waste recycling for our local customer and suppliers,” he said.
But expanding operations comes with hurdles. “As overseas suppliers want to enter Singapore, the most important things usually fall on logistic issues,” Su said, citing licensing, warehousing and transportation rules as common barriers. Looking ahead, Topscience aims to create a “self-sustainable ecosystem” by building manufacturing and servicing facilities directly in Singapore.
Singapore’s appeal lies not only in its infrastructure but also in its startup ecosystem. Known as the “Silicon Valley of Asia,” the city has cultivated a government-supported environment for innovation in areas such as semiconductors, artificial intelligence and sustainability.
For entrepreneur Ting Fan, who previously worked at TSMC, Intel and Micron before joining a Singapore startup, networking spaces like the JTC LaunchPad food court are more than just dining spots. “This is a good place that you can meet different founders, different people and startup. They also startup company. So you get an idea. And... it’s helped me to generate my idea as well,” she said.
Fan added that government subsidies make startup rents cheaper than personal housing, reflecting Singapore’s efforts to attract innovators. “I would say Singapore compared to Taiwan is more international,” she said. “And the people around you can be from different countries.”
Patrick Lim, chief executive of the Action Community for Entrepreneurship (ACE), said his organization helps startups scale globally. “ACE, we are the national trade association for startups in Singapore, we are partially funded by the Singapore government to see how we can support the Singapore-based startup to grow out of Singapore,” Lim said.
Still, challenges remain. “There are a lot, I would say, cost of doing business is higher in Singapore,” Lim said. He noted that while incentives exist, firms must include at least 30 percent local equity to qualify.
Lim also warned that artificial intelligence is accelerating the pace of change. “We always say that in the typical tech industry cycle, uh, is about three to five years or five to seven years. But we look at AI. I think the life cycle is probably six month(s) or nine month(s),” he said.
Despite high risks, many Taiwanese entrepreneurs remain optimistic. Bruno Lin, president of the Asia Taiwanese Chambers of Commerce junior chapter, emphasized that even failures can be valuable. “I think definitely I think the percentage should be even higher, maybe 95, 99 percent … But I will say the most experience I learned from staff is like, you will learn really critical experience from a startup,” he said.
As both economies look to the future, business leaders believe that partnerships between Taiwan and Singapore will only deepen.
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