Aggressive push to help firms internationalise; new district will connect Woodlands to JS-SEZ

SINGAPORE – Support for businesses expanding overseas will be improved through enhancements to existing government schemes and a streamlined grant application process from the second half of 2026.

A 35ha district – Woodlands Gateway – will also be developed in Singapore as a hub for manufacturers with connectivity to the Johor-Singapore Special Economic Zone (JS-SEZ).

Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong said the aggressive push for internationalisation would be one of the key focuses of his ministry at a debate on its budget on March 2.

DPM Gan said: “We will step up support for leading companies pursuing significant overseas ventures that may involve higher risks and capital outlay, especially in developing and emerging markets, but which give them a real and lasting foothold in key markets and value chains.”

He noted that in addition to being able to grow their revenue and profits from overseas, these companies will also “bring value back to Singapore through better jobs, stronger demand for local capabilities, and deeper integration into global growth opportunities”.

A business refresh package was also launched to help firms of all sizes capture new growth opportunities locally and overseas, said Senior Minister of State for Trade and Industry Low Yen Ling.

That package will include enhancements to the Market Readiness Assistance Grant (MRA), which helps businesses expand overseas by defraying the costs of overseas market promotion, business development and market set-up.

During the Budget, it was announced that from April 1, the support level for small and medium-sized enterprises (SMEs) under the MRA will be raised from 50 per cent to 70 per cent of eligible costs per company per new market. The higher level of support will be applicable till March 31, 2029.

From the second half of 2026, businesses will be able to use the MRA to expand their operations in both new and existing markets.

The MRA grant will also be made available to all local businesses, including non-SMEs, which will receive support of up to 50 per cent of eligible costs.

“This will not only support businesses in accessing new markets, but also enable them to deepen their presence in existing markets,” Ms Low said.

The expanded support under the MRA will be provided with the launch of a new grant, EDGE.

EDGE will streamline three existing business grants – the MRA, Productivity Solutions Grant and Enterprise Development Grant – into a single scheme to improve enterprise experience and enable businesses to apply for support aligned with their needs.

It will provide all Singapore businesses with funding of up to $100,000 per year for eligible activities, including enhancing digitalisation capabilities, expanding into new markets or improving enterprise efficiencies.

Businesses that require a higher quantum of support under the grant can submit their requests to Enterprise Singapore, and these will be assessed on a case-by-case basis.

More details on EDGE will be provided later in 2026.

Mr Shawn Loh (Jalan Besar GRC) noted that support for local firms is important because Singapore’s limited domestic market pushes firms to internationalise while they are still small, and from a higher-cost operating base.

“This is a structural disadvantage and makes scaling much more difficult,” he said.

Workers’ Party MP Gerald Giam (Aljunied GRC) raised calls from the Association of Small and Medium Enterprises to further delineate the classification of SMEs, as challenges faced by micro and medium-sized firms are very different.

Mr Giam said: “By grouping them together, we risk applying one-size-fits-all solutions that may not reach the smallest players.”

DPM Gan said he agreed that many growth opportunities lie beyond Singapore’s shores, and efforts will be made towards helping companies to not only export, but also expand and invest internationally.

Minister of State for Trade and Industry Gan Siow Huang said businesses should also be primed to seize opportunities regionally, as ASEAN is projected to be the world’s fourth largest economic bloc by 2030.

She noted that the region is building economic hubs like Batam, Bintan, the Karimun region and the JS-SEZ.

In support of the latter, Ms Gan said JTC Corporation is developing the Woodlands Gateway district, which will be connected to Woodlands North MRT station and the upcoming Johor Bahru-Singapore Rapid Transit System (RTS) Link.

The mixed-use district will offer commercial and lifestyle amenities, as well as developments for general manufacturing and industrial uses.

The first phase of the project is expected to be completed by around 2030.

Ms Gan said: “Given its proximity to the RTS Link, Woodlands Gateway will cater to firms siting manufacturing in Johor with regional headquarters functions here.”

Mr Victor Lye (Ang Mo Kio GRC) said the JS-SEZ can be a good start for companies looking to internationalise their operations, and the zone can act as an “extra lung” for SMEs looking to grow and thrive.

He suggested taking a proactive approach to marketing the JS-SEZ, and compiling a directory of local SME suppliers who will be able to support companies looking to invest in the economic zone.

In response, Ms Gan said that the Ministry of Trade and Industry will be studying the proposals carefully.