Singapore's MNC-local firm partnerships drive mutual growth and innovation
In the first half of 2026, several global enterprises, including Viatris, Maersk, Mindray, Revolut, Nvidia, and Quantinuum, expanded or established new business activities in Singapore as part of their Asia-Pacific growth strategies. The city-state's stability, competitive business ecosystem, connectivity to key markets, access to skilled talent, and government funding for R&D were key factors influencing their investment decisions.
Singapore's vibrant business ecosystem, comprising nearly 370,000 SMEs, 4,500 tech startups, and 78 public research institutes, offers diverse opportunities for collaboration. Multinational corporations (MNCs) have partnered with local firms to enhance supply chain resilience, accelerate AI adoption, reduce costs, and speed up product launches. Local enterprises have also benefited from these partnerships, improving their operations and capabilities to meet global standards.
A study by the Ministry of Trade and Industry in November 2025 revealed that exposure to Economic Development Board (EDB) firms boosted worker productivity by 6.2%, local employment by 1.5%, and local wages by 1.6%. A 10% increase in exposure to EDB firms improved economic value added by 8.3% on average. Government agencies like EDB and Enterprise Singapore facilitate these partnerships through initiatives like the Partnerships for Capability Transformation (Pact) scheme and the Corporate Venture Launchpad.
Examples of successful collaborations include Pratt & Whitney Component Solutions working with Applied Total Control Treatments to develop high-performance electroplating for aerospace maintenance. Sanofi partnered with Magorium to recycle insulin pens and create sustainable road materials. Augmentus, an AI robotics software company, has seen its technology adopted by ST Engineering and the Mantrac Group. These partnerships highlight the mutual benefits of MNC-local firm collaborations in Singapore.