Norwegian government eyes Singapore and Southeast Asia for maritime export growth

Vestre, Satsiing Singapore And Sea

The Norwegian government has launched a new public-private initiative with the goal of increasing the export of the maritime industry by 50% by 2030. The government has identified Singapore and Southeast Asia as key focus areas for export growth.

On 2 May, Minister of Trade and Industry, Jan Christian Vestre, presented the initiative in the Norwegian coastal town of Ålesund.

Minister Vestre emphasized that Singapore has long been recognized as a global hub for maritime trade. The city-state has a thriving shipping industry and a highly developed port infrastructure. Its strategic location, favorable business environment, and highly skilled workforce make it an attractive destination for Norwegian maritime companies looking to expand their regional operations. Singapore and Norway have a deep and extensive collaboration within the maritime sector.

Significant opportunities for Norwegian companies

Furthermore, Singapore has a strong commitment to sustainability and reducing its carbon footprint. It has set ambitious targets for reducing greenhouse gas emissions and implemented policies to support sustainable and low-carbon technologies. This provides Norwegian companies specializing in environmentally friendly maritime technologies, such as batteries, fuel cells, charging infrastructure, hybrid propulsion models, and autonomous technology, with a significant opportunity. Additionally, there are opportunities within various bunkering solutions for alternative fuels, including ammonia, hydrogen, bunkering, port terminal solutions, and more.

Singapore is also a business hub and an entry point to Southeast Asia, which the Norwegian government has identified as a promising region for maritime exports.

The Norwegian government’s new public-private initiative represents a significant opportunity for Norwegian maritime companies to expand their operations and contribute to the global transition towards sustainable and low-carbon shipping. With a focus on Singapore and Southeast Asia, as well as specific maritime segments such as offshore wind and cruise ships, the government is paving the way for a prosperous future for Norway’s maritime industry.

SNIC 2023 – Innovate to Zero

As part of this initiative, Minister Jan Christian Vestre has emphasized the importance of a unified message among all private and public actors under the umbrella of Team Norway.

The Norwegian Business Association Singapore (NBAS), together with its partners in Team Norway Singapore – Norwegian Embassy, Innovation Norway, and Norwep – Singaporean partners and sponsors is organizing the Singapore Norway Innovation Conference (SNIC) 2023 Innovate to Zero on September 28-29. This conference provides a platform for Norwegian companies to establish new partnerships and explore new opportunities in Singapore and Southeast Asia.

snic 2023 - innovate to zero