Singapore Bolsters Support for SMEs Expanding into the Middle East, Aims for Job Creation Back Home
Singapore is intensifying its economic engagement with the Middle East, with a focus on supporting small and medium-sized enterprises (SMEs) as they expand into the rapidly growing Gulf markets. A key component of this strategy is the Singapore Enterprise Centre in Dubai, launched last year, which provides crucial market advice, networking opportunities and business-matching services.
Modern Grant Enhancements to Boost Overseas Expansion
Enhancements to the Market Readiness Assistance (MRA) grant, announced as part of the 2026 Budget, will increase support for SMEs. From April 1st, the grant will cover up to 70% of eligible costs, a rise from the previous 50%, capped at S$100,000 per company per new market. This increased financial assistance is designed to encourage more companies to pursue international opportunities.
Creating Jobs in Singapore Through Global Expansion
According to Kok Ping Soon, CEO of the Singapore Business Federation (SBF), a primary objective of supporting overseas expansion is to generate employment opportunities within Singapore. “With the market readiness assistant grant, we hope to get more companies to proceed overseas, and as they go overseas, they will likely generate jobs for Singaporeans in supply chain coordination, in business development and in regional operations,” he stated.
SBF Facilitating Overseas Projects and Job Creation
While quantifying the exact number of jobs created is challenging, the SBF facilitated approximately 200 overseas projects in the past year. Mr. Kok estimates that each of these projects typically requires two to three Singaporeans initially to explore opportunities. However, he emphasized that the benefits of overseas expansion extend beyond placing Singaporeans abroad, focusing on fostering growth in international operations that ultimately lead to more roles back home.
Dubai Centre as a Gateway to the Gulf Region
The Singapore Enterprise Centre (SEC) in Dubai, the SBF’s first in the Middle East and fifth globally, serves as a strategic gateway for Singaporean companies looking to capitalize on opportunities throughout the Gulf region. The UAE’s economy is currently valued at US$569 billion and is projected to grow by 4.8% in 2025 [1]. Bilateral merchandise trade between Singapore and the UAE reached S$24 billion in 2024 [1], demonstrating the strong economic ties between the two nations.
Growing Interest from Singapore Businesses
Singapore businesses have shown increasing interest in expanding into both the UAE and Saudi Arabia [2]. The number of companies inquiring about establishing a presence in the Middle East has surged more than fivefold in the past two years [2].
Supporting SMEs Through GlobalConnect@SBF
The Singapore Enterprise Centres are part of the GlobalConnect@SBF initiative, a collaboration between Enterprise Singapore and the SBF, providing in-market advisory, networking, and business matching support [1]. Other SECs are located in Jakarta, Ho Chi Minh City, Bangkok, and Bengaluru [2].