SMEs urged to go global, seek partnerships with MNCs that benefit both

Link-ups can help firms improve capabilities and diversify supply-chain risks: Alvin Tan

- Rosalind Ang

Full Potential of 3D Printing to Materialise Magics

(Mr Sean Looi, general manager of Creatz3D, at the Industrial Transformation Asia-Pacific 2025 event. The 3D-printing solutions provider has seen its revenue soar two to three times since 2024, boosted by partnerships with MNCs. PHOTO: EDB)

Small and medium-sized enterprises (SMEs) should seek to go global, given Singapore’s small market, said Minister of State for Trade and Industry Alvin Tan on Oct 17.

Going global can lead SMEs to partnerships with multinational corporations (MNCs) which are mutually beneficial, helping them to improve their capabilities and diversify supply-chain risks, Mr Tan added.

He was speaking on the last day of the Industrial Transformation Asia-Pacific 2025, held at the Singapore Expo.

During the event’s fireside chat with Mr Tan, company executives representing three successful cases of MNC-SME collaboration agreed that such partnerships have furthered their business goals.

One of the companies represented at the chat was Pratt and Whitney Component Solutions (PWCS), which specialises in aircraft component repair and overhaul at Seletar Aerospace Park.