Maritime Industry in Malaysia and Singapore
Business initiation for German companies in the field of shipbuilding industry and maritime economy/offshore technology in Malaysia and Singapore.
- Event Start
- 03/11/2019 | 00:00
- Event End
- 08/11/2019 | 00:00
Business development in Malaysia and Singapore, 2019
The event is a project of the BMWi Market Development Programme for SMEs and is organised by the Malaysian-German Chamber of Industry and Commerce in cooperation with the Singaporean-German Chamber of Industry and Commerce on behalf of the Federal Ministry of Economics and Energy (BMWi). The aim of the project is to support small and medium-sized enterprises (SMEs), in particular, in their foreign trade commitment to developing the sales market in Malaysia and Singapore.
Market potential in Malaysia and Singapore
Malaysia's and Singapore's geostrategic location at the heart of the economically highly dynamic ASEAN region has made both countries a hub of the maritime economy. Every year, more than 120,000 ships pass through the Straits of Malacca, which lies between the Malay Peninsula and the northeast coast of Sumatra. This makes it the busiest waterway in the world and it already has a large number of shipyards, ports and container terminals. Against the background of the enormous economic growth in Asia, both countries therefore offer optimal conditions for the rapid further development of the respective industries.
Malaysia's maritime industry specialises primarily in the planning, construction, construction, repair, maintenance and conversion of ocean-going and coastal vessels, as well as passenger and fishing vessels. The Malaysian oil and gas industry, with globally operating companies, offers special potential in the field of offshore technology, as most of the deposits are located under the sea bed.
Characterised by an efficient infrastructure, Singapore is the second largest container port in the world after Shanghai and recorded a turnover of 30 million containers and over 600 million tons of freight in 2017. In addition to large shipyard groups, all well-known shipping companies are represented there with their headquarters or branches.
In addition, both countries are characterised by a high investment volume in the maritime industry:
The order book for new ships built by Malaysian and Singaporean shipowners totals US$17.6bil. This puts them together in 4th place in a global comparison. After the Hong Kong branch of the Malaysian shipbuilding company Genting took over the shipyards in Wismar, Rostock and Stralsund in 2016, a further bilateral link between the maritime industry in Malaysia and Germany has emerged. The company thus invested 230mil euros in order to be able to build high-quality cruise ships on time and cost-efficiently.
Who should come?
The business initiation is aimed at 8 to 12 German small and medium-sized enterprises and suppliers in the maritime industry sector. Applications will be considered in the order in which they are received. SMEs have priority over large companies.
Kindly register using the registration form below. The closing date for registration is 9 August 2019.