Singapore, the Netherlands mark 60 years of bilateral ties with new economic partnerships

SINGAPORE: New business partnerships between Dutch and Singapore companies were inked on Monday (May 19) as both countries celebrated 60 years of diplomatic ties.

Singapore’s Minister-in-charge of Trade Relations Grace Fu said the country is committed to growing such partnerships by leveraging on both nations' strategic locations.

These new partnerships, including one between a Singaporean software firm and a Dutch-founded travel app, were launched across the semiconductor and tourism industries.

In a speech at a showcase lunch held at Fullerton Bay Hotel, Ms Fu highlighted the deep economic ties between Singapore and the Netherlands that stretch back several decades.

For example, Dutch multinational health technology firm Phillips set up shop in Singapore in 1951 before establishing its first manufacturing facility in Boon Keng in 1968, she noted.

“These early investments reflect the long-standing trust and cooperation between our two countries,” Ms Fu said.

The Netherlands is now Singapore's second largest European Union investor and the second largest investment destination for Singapore within the bloc, she said, adding that both countries are strengthening collaboration in sustainability, digitalisation and innovation.

“Initiatives like the Singapore-Rotterdam green and digital shipping corridor … reflect our shared ambition to pioneer solutions in areas such as sustainable shipping, advanced manufacturing and smart mobility," added Ms Fu, who is also Minister for Sustainability and the Environment.

SEMICONDUCTOR PARTNERSHIPS

A Memorandum of Understanding (MOU) was signed between Dutch manufacturer of lithography equipment SCIL Nanoimprint and Singapore Deep-Tech Alliance (SDTA), a locally-based venture investor focusing on developing and supporting cutting-edge technologies.

The MOU will allow SCIL, which makes advanced nanoimprint lithography equipment, to expand into Singapore and the Southeast Asian region via SDTA’s partnership with another Dutch venture investor HighTechXL.

HighTechXL counts ASML, the world's biggest supplier of computer chip-making equipment, among its shareholders and investors.

Another tie-up is between Dutch company Sioux Technologies and local firm Applied Angstrom Technology Pte Ltd.

Both companies signed a Letter of Intent for a research and development programme. They will be collaborating on a joint semiconductor control platform.

TOURISM VENTURES

An agreement was also signed between Dutch company Meetingselect, a global meeting and event venue booking marketplace, and local hospitality group Millennium Hotels and Resorts (MHR).

Both firms are working on a global venue partnership, with Meetingselect’s customers being offered destination experiences and venues via MHR’s 145 hotels and properties worldwide.

Another tourism collaboration was marked by a contract signing between local software company GlobalTix and Dutch-founded travel app and telecom provider Firsty.

Both companies are now able to increase reach and access for their users by tapping on each other's technologies to provide booking and ticketing services.

BILATERAL SUPPORT VITAL FOR EXPANSION

Two other Singapore companies that have integrated their businesses in the Netherlands told CNA about their positive experience with setting up operations, as well as the support they received from government agencies in both countries.

Local battery manufacturer Durapower expanded to the Netherlands a decade ago and has been operating there since, aligning with the European country's push for electrification.

The firm started off by powering electric buses and trucks.

It currently also supplies batteries for autonomous vehicles at the port of Rotterdam, as well as cranes and marine vessels.

Durapower’s CEO Kelvin Lim told CNA that it was quite an efficient process to set up a business in the Netherlands.

“We didn't have a lot of challenges … with regards to registration. We had a lot of help from NFIA (Netherlands Foreign Investment Agency), both from Singapore and from the Netherlands. We also (had) great support from Enterprise Singapore,” he said.

He added that the assistance provided to Durapower made the process very easy and efficient, and noted that the Netherlands remains a business-friendly gateway to the rest of the region.

"Europe remains a very important market for us and as we expand into the other parts of Europe, we wanted to use (the) Netherlands as our base and create a network effect to enable us to expand further,” he said.

Mr Lim added that the firm is planning to expand its team in the Netherlands, as well as set up local manufacturing capabilities in the future.

Durapower also took part in a Letter of Intent signing during the showcase event.

Another company that received support from Singapore and Dutch agencies during its expansion to the Netherlands was global logistics service provider BHS, which provides specialised engineered solutions for semiconductor factories.

The company said it ensures safe, precise and reliable handling of critical manufacturing assets for such factories.

The firm marked its first step into Europe with its move to the Netherlands last year.

Enterprise Singapore and NIFA provided regulatory and migration support to BHS for their move, which brought the company closer to its clients and deeper into the market.

The company said such support is crucial for any business looking to expand into the Netherlands, where it has recently established an engineering centre.

NFIA also highlighted its support in assisting BHS with establishing an entity in the Netherlands, noting the company’s strengthening of the Dutch semiconductor value chain.

"Netherlands is one of the biggest hubs for technology,” said its CEO Mr Bryan Lim.

“Startups - there are aplenty. We're hoping to see whether we can support those internationalising companies moving out of the Netherlands, going to the countries that we are already having an office in.”