Central Asia's young and growing population offers opportunities for businesses to gain an early-mover advantage, especially in areas like urban infrastructure, technology and innovative consumer products.
Enterprise Singapore said Central Asia's young and growing population can give businesses an early-mover advantage, especially in areas like urban infrastructure, technology and innovative consumer products.
“But this is where Enterprise Singapore comes in. We really look at finding the new areas which are growing, identify them and share them with our companies. And this helps to provide new markets, not just as a growth opportunity, but also as a market for diversification.” EnterpriseSG said it is organising seminars and trade missions for Singapore firms to connect and collaborate with partners in Central Asia, as part of efforts to help more local firms expand and enhance their supply chain resilience.Some businesses that have expanded into Central Asia told CNA that their efforts are paying off.
“Over the last four years, in terms of volume, our market share has grown from 67 per cent to 73 per cent coffee mixes.”However, logistics and transportation remain a challenge.
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