Singapore ranked 2nd in Asia for most opportunity created due to BRI

Singapore is seen as one of the top countries in Asia in terms of Belt and Road Initiative (BRI) opportunities, according to a survey by Singapore Business Federation (SBF) and PwC Singapore.

More than half, or 57 per cent, of some 50 senior executives from various industries said that they were interested to invest in the city state.

This put Singapore in second place, tied with Indonesia, while Vietnam emerged first with 66 per cent. At fourth place are Malaysia and Myanmar with 50 per cent, followed by Thailand with 48 per cent.

Chart 1: ASEAN and South Asian countries where respondents see BRI opportunities

Singapore also tied with Vietnam, Indonesia, and Thailand as the government partner of choice in ASEAN and South Asia for 64 per cent of respondents who see the need for local BRI partners.

Chart 2: Preferred BRI country government partner    

For those who preferred to partner with a third-party government, a majority (87 per cent) chose China, followed by Japan, US, UK and Germany.

The respondents expressed interest in economic infrastructure developments that support trade and industrialisation, such as smart cities and urban developments, industrial estates, and special economic zones, ICT, roads and ports.

Chart 3: Risks in BRI project involvement as identified by respondents

Respondents have also identified political, financial and governance risks as the top factors that may affect BRI infrastructure projects.

The survey was conducted in June and July 2019, with the findings published on 15 August 2019 at the 5th Singapore Regional Business Forum.