Singapore Launches Professional Services Centre to Support Regional Business Expansion

SINGAPORE – A new initiative aimed at bolstering the internationalisation of Singaporean businesses has been launched with the establishment of the Singapore Professional Services (PS) Centre. Located at the Institute of Singapore Chartered Accountants (ISCA) House, the centre will function as the anchor hub of a regional network designed to connect firms with trusted professional expertise across Asia.

At the launch event on July 21, Second Minister for Finance and National Development Indranee Rajah highlighted the complexities companies face when expanding internationally, stating that internationalisation is not easy and that companies have to navigate unfamiliar regulatory environments, find reliable partners, and build networks from scratch. The PS Centre aims to streamline this process by providing coordinated support across various professional disciplines, including legal, accounting, tax, corporate secretarial services, and human resources.

“Internationalisation is not easy. Companies have to navigate unfamiliar regulatory environments, find reliable partners, and build networks from scratch.”Indranee Rajah, Second Minister for Finance and National Development

The PS Centre is part of a broader network that includes existing centres in Shanghai, Nanjing, and Ho Chi Minh City, which have collectively served more than 700 visitors and facilitated over 65 connections between Singaporean and international businesses within just six months of operation. Plans are underway to establish additional centres in Jakarta, Bangkok, Johor Bahru, and Shenzhen, with future expansions also targeting the Middle East.

“Business is becoming increasingly regional, but professional services are still largely organised country by country. The PS Centre network changes that.”Lee Boon Teck, President of ISCA

According to ISCA, the PS Centre will not only provide access to professional services but will also connect businesses with local associations, government agencies, and chambers of commerce. This integrated approach is intended to simplify the process for companies seeking to establish a presence in new markets. Lee Boon Teck, president of ISCA, noted that business is becoming increasingly regional, but professional services are still largely organised country by country, and the PS Centre network changes that.

In addition to professional advice, the PS Centre will introduce the Business Growth Clinic, where business owners can present their challenges to a panel of experts. This initiative aims to provide practical guidance on issues such as overseas expansion, AI adoption, capital raising, and succession planning.

“Wherever a business chooses to grow in Asia, there should be a Professional Services Centre ready to support that journey.”Indranee Rajah, Second Minister for Finance and National Development

Indranee Rajah emphasized the importance of adapting to an evolving business landscape, stating that professionals must be equipped for an AI-enabled future. She remarked that wherever a business chooses to grow in Asia, there should be a Professional Services Centre ready to support that journey.