In the first half of 2026, a range of multinational corporations (MNCs), including Viatris, Maersk, Mindray, Revolut, Nvidia, and Quantinuum, expanded or established new business operations in Singapore as part of their broader growth strategies in the Asia-Pacific region. These companies cited Singapore’s stable and trusted business environment, connectivity to key markets, access to skilled talent, and government support for research and development as critical factors influencing their decisions.

Singapore’s diversified economy and robust innovation ecosystem, which includes nearly 370,000 small and medium-sized enterprises (SMEs), around 4,500 technology startups, and 78 public research institutes, have facilitated collaboration opportunities across industry value chains. This ecosystem has enabled MNCs to strengthen supply chain resilience, accelerate artificial intelligence adoption, reduce costs, and bring products to market more rapidly.

Local firms have benefited from partnerships with these global enterprises. A Ministry of Trade and Industry study in November 2025 found that increased exposure to Economic Development Board (EDB)-supported global companies in manufacturing and tradable services sectors led to improvements in workforce quality. For instance, a 10 percent rise in interaction with EDB firms corresponded with an average 8.3 percent increase in economic value added (VA), a 6.2 percent productivity boost per worker, a 1.5 percent increase in employment, and a 1.6 percent rise in wages for non-EDB local companies.

Direct collaboration with MNCs has helped local enterprises enhance their operations and align with stringent sourcing requirements. Many have refined their technologies to meet large-scale production demands and leveraged their experience in servicing MNCs to expand into new markets. The Economic Development Board (EDB) and Enterprise Singapore (EnterpriseSG) play a key role in facilitating these partnerships, addressing gaps in mutual awareness, and helping companies navigate compliance and quality standards.

Government agencies foster these linkages through matchmaking initiatives, encouraging companies to begin with pilot projects to build trust before pursuing deeper partnerships. Support schemes such as the Partnerships for Capability Transformation (Pact) help defray costs and have been continually updated to stay responsive to industry trends. Additional programs like the Corporate Venture Launchpad and the MNC-Local Enterprise Alliance, backed by industry associations such as the Singapore Manufacturing Federation, further encourage collaboration by connecting startups, corporates, and local suppliers.

Several partnerships illustrate these mutual benefits. Pratt & Whitney Component Solutions partnered with local firm Applied Total Control Treatments to develop advanced electroplating capabilities for aerospace components, reducing turnaround times and reliance on overseas suppliers. Sanofi collaborated with deep-tech company Magorium to recycle used insulin pens into sustainable road paving material at its Singapore manufacturing facility, supporting environmental goals while enabling Magorium’s expansion into the ASEAN market. AI robotics firm Augmentus, backed by Applied Materials' venture arm, has supplied technology to manufacturers including ST Engineering.

Biotech startups have also gained from collaboration programs. Singzyme, noted for its work in targeted therapies, received support through the Amgen x NSG BioLabs Golden Ticket initiative, which provides mentorship and access to scientific networks. On the AI front, Addlly AI has advanced its enterprise marketing solutions via an incubator partnership involving Microsoft and the National University of Singapore Enterprise’s Block71 startup hub.

Local manufacturers have evolved through engagements with MNCs as well. Fong’s Engineering and Manufacturing transitioned from general precision engineering to specialize in medical devices after partnering with Stryker, enabling it to offer end-to-end solutions and establish a just-in-time supply model through collaboration with Forefront Medical Technology.

These examples reflect a broader strategic advantage for Singapore in an increasingly fragmented global landscape. By offering multinational companies not only a trusted operational base but also a network of innovative local partners, Singapore enhances its competitiveness. At the same time, local enterprises gain opportunities to build capabilities and expand internationally. The Economic Development Board and Enterprise Singapore maintain a focus on fostering such partnerships to deepen the pool of local expertise and bolster Singapore’s position as a hub for global business growth.