3 Business Ideas to take advantage of Singapore’s Green Economy

Singapore has unveiled its Green Plan 2030 in 2021. For the next 10 years, Singapore aims to take steps to achieve its long-term net-zero emissions goal and to strengthen its commitments under the United Nations’ 2030 Sustainable Development Agenda and Paris Agreement. As per the United Nations’ definition, a green economy is low-carbon, resource-efficient and socially inclusive. 

New initiatives include requiring all new car registrations to be cleaner-energy models, reduce waste that is sent to the landfill, and two-thirds reduction of net carbon emissions from the school sector by 30% by 2030.

Ensuring the sustainability of Singapore’s future generations, this initiative has not only opened up more job opportunities for both its local and foreign workforce but also helps maintain Singapore as a comfortable home for work and play for the younger generation.

3 Business Ideas to take advantage of Singapore’s Green Economy:

1. Energy-Efficient Products

Energy-efficient products include solar panels, appliances that use less energy such as air conditioners, and energy-generating products such as exercise machines that generate electricity that can be used for other purposes. 

While other parts of the world have been transitioning to use solar panels for their homes, this only happens at governmental level in Singapore. Solar panels have been put up on the rooftops of Singapore’s public housing apartments, the Housing Board and Development (HDB) blocks. However, these are installed to reduce the costs of building management. Individual households will need products that can help them save costs in energy as well. For example,  solar-powered windows would help households farm solar energy for their own apartment unit, thus cutting energy bills in the long run. 

2. Water-Efficient Products

As Singapore is a country with no natural resources including water, water-saving products will be used by everyone at all levels of society – government, businesses, and households. Even with the government’s success in generating a multi-source strategy of getting water, Singapore is always careful with their water usage.

3. Waste Management & Recycling

Although a tiny nation, Singapore is one of the highest waste producers. With a low recycling rate, Singapore has a lot to do. With high carbon emissions, this tiny nation is contributing to the global climate problem. The Singapore government has unveiled a zero waste plan for the nation. Its aim is to reduce the waste sent to the landfill by 30% by 2030 –  which will help to extend its Semakau Landfill’s lifespan beyond 2035. 

E-waste, paper, tin, plastic, metal, fabric are all materials that can be recycled. There is a great opportunity for this sub-sector due to its growth potential.

Setting up a Business in Singapore

All foreigners are welcomed to set up businesses in Singapore. This is great timing to seize the opportunity in Singapore and ride on its growth in the Green Economy. There is government support in terms of funding, grants, and tax rebates. Setting up a business is easy and fast. 

Singapore Work Pass Applications for Businesses

All foreigners who want to work in Singapore need to have a valid Work Pass. There are various types of Work Passes, depending on the job and its respective salary. 

If you are a business owner who is keen to set up a business in Singapore and hire foreigners for a Green Economy position in Singapore, you may contact Immigration@SG at +65 6493 1830 for more information on setting up a business in Singapore and Work Pass applications. 

Immigration@SG is a leading, Singapore-based immigration company that specialises in Singapore PR/Citizenship applications, Work Pass applications, Business Incorporation, Single Family Office set up, Global Investor Programme (GIP) application, and Relocation Services. 

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