Singapore aims to lure German mid- sized companies to expand its industrial base and make the Asian nation a research and development hub, Handelsblatt said, citing an interview with Leo Yip, head of Singapore Economic Development Board.
German companies account for 1,300 of the 35,000 foreign companies doing business in Singapore and two-thirds of those are mid-sized firms, the newspaper said, according to the Asian country’s board. One example is the door and lock maker Dorma Holding GmbH, based in Ennepetal, Germany, Handelsblatt said.
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