Speech by Minister of State for Energy, Trade and Industry Gan Siow Huang at the 2nd France-Singapore Business Awards Ceremony

His Excellency Mr. Stephen Marchisio, Ambassador of France to Singapore,

Ms. Sylvie Gleises, President of the French Chamber of Commerce in Singapore,

Distinguished Guests,

Ladies and Gentlemen,

Introduction

1.       A very good evening to all of you.

2.       Tonight, we celebrate the strength of the France-Singapore partnership and thank the businesses and individuals who contribute to this and continue to build this special partnership.

3.       Last year, France and Singapore marked 60 years of diplomatic relations and elevated our relationship to a Comprehensive Strategic Partnership.

4.       As Ambassador said, this was Singapore’s first Comprehensive Strategic Partnership with a European country, and remains the only one.

5.       Tonight, I would like to highlight a few areas where our businesses can help turn this ambition into action. It is not just partnership in writing, but really, what matters the most is how we can take it forward and put it into action.

Strengthening Bilateral Economic Collaboration

6.       First, we must continue to deepen our trade and investment links and strengthen the resilience of our economies.

7.       France is among Singapore’s top trading partners within the EU, while Singapore is France’s top economic partner within ASEAN.

8.       These ties are underpinned by a robust trade architecture, including the 2019 EU-Singapore Free Trade Agreement and the EU-Singapore Digital Trade Agreement which entered into force in February 2026.

9.       We also look forward to France’s ratification of the EU-Singapore Investment Protection Agreement.

10.      Together, these frameworks provide businesses with greater certainty, more protection and pave the way to new opportunities across trade, investment and the digital economy.

11.      This is a strong foundation for our companies to deepen their partnerships.

12.      Already there are more than 3000 French companies operating in Singapore, ranging from multinational corporations to start-ups and SMEs across sectors such as aerospace and advanced manufacturing, financial services, consumer industries, and technology.

13.      But we can do more, and we encourage French businesses to continue to leverage Singapore’s position as a trusted and well-connected regional hub to grow across Southeast Asia.

14.      Likewise, Singapore companies looking to expand in Europe can look to France, with its large and sophisticated market, strong industrial and innovation capabilities, and links to the wider European economy.

15.      I hope to see more French companies leveraging Singapore to innovate and expand across Asia, and more Singapore companies leveraging France as a strategic anchor for their growth in Europe.

Innovation and Future-Readiness

16.      Second, Singapore and France must continue to innovate and prepare our businesses for the future.

17.      I am therefore pleased that this year’s Business Awards include two categories dedicated specifically to artificial intelligence – the AI Tech Innovator of the Year and the AI Adoption Excellence Award.

18.      Their inclusion is timely. AI is rapidly changing how businesses operate, from manufacturing and logistics to finance, healthcare, and professional services, and many more sectors.

19.      But simply developing the most sophisticated AI technology is not enough.

20.      What matters is translating technology into real-world applications: helping companies become more productive, competitive; enabling workers to perform their jobs better, and creating more innovative products and solutions.

21.      France and Singapore are natural partners in this endeavour.

22.      France brings world-class strengths in science, engineering, and technology.

23.      Singapore offers a trusted, connected environment where companies can develop, test, and scale solutions across Asia.

24.      We are already seeing this synergy in action.

25.      Our countries have been deepening cooperation in areas such as AI, quantum technologies, and cybersecurity.

26.      French technology companies such as Thales Group have established a strong presence in Singapore, working closely with our companies and research institutions.

27.      This is precisely the kind of partnership we want to encourage – combining our complementary strengths not only to adopt the technologies of tomorrow, but to shape them together.

Sustainability as a Business Imperative

28.      Third, our companies must continue to make sustainability a source of competitiveness and growth.

29.      The Corporate Sustainability Award and Pioneers in Sustainability Award recognise companies that have demonstrated their commitment to creating a green and sustainable future.

30.      Sustainability is no longer peripheral to business strategy.

31.      Increasingly, it shapes decisions about how companies invest, design products, organise supply chains, and manage scarce resources.

32.      Customers, investors, and employees are also paying closer attention to how companies contribute to a more sustainable future.

33.      Under our Comprehensive Strategic Partnership, Singapore and France are deepening cooperation in areas such as low-carbon energy and connectivity.

34.      Singapore is pursuing our transition to a low-carbon economy while remaining a competitive business hub.

35.      France brings significant capabilities across renewable and low-carbon energy, sustainable finance, green technologies, and advanced industrial solutions. These are solutions that we will need to allow Singapore to be able to achieve our goal of going net zero by 2050.

36.      By bringing these strengths together, our companies can develop commercially viable solutions not only for Singapore and France, but for markets across Southeast Asia and beyond.

People and Entrepreneurship

37.      Finally, people are the most important asset.

38.      Technology can transform companies. Capital can help them scale. Trade agreements can provide the environment and open markets.

39.      But ultimately, it is people who turn ideas and opportunities into results.

40.      This is why the Employer of the Year and Entrepreneur of the Year awards are particularly meaningful.

41.      Attracting talent is only the beginning.

42.      Employers must also help their people develop new capabilities, contribute different perspectives, and have the confidence to adapt as jobs and industries change.

43.      Entrepreneurs are also very important.

44.      They are especially pivotal during periods of disruption that we are seeing now, when new technologies and markets present opportunities that need to be seized and challenge existing business models.

45.      As governments, business leaders and key stakeholders like the French Chamber, our task is to build an ecosystem in which talented people can exchange ideas, be bold to experiment and succeed across borders.

Conclusion

46.      Ladies and gentlemen, the finalists and winners, we want to celebrate their achievements tonight.

47.      To all the finalists, congratulations for getting this far, and to the winners tonight, I wish you well. You spark a good example and inspire more companies in Singapore.

48.      I wish everybody well, and thank you.