There is growing interest from Singaporean investors in priority areas such as venture capital for emerging technologies and infrastructure, says Jason Stockwood
[SINGAPORE] The UK’s partnership with Singapore is one of Britain’s “most strategically important” in the world, with the Republic serving as a key hub and gateway to South-east Asia, said the UK’s Investment Minister Jason Stockwood.
Today, Singapore accounts for nearly 60 per cent of the UK’s exports to South-east Asia, directly or indirectly, he said in an interview with The Business Times during his recent three-nation tour of the Asia-Pacific that included stops in Malaysia, Singapore and Australia.
“With South-east Asia collectively the world’s fifth-largest economy, our relationship with Singapore is critical for UK trade and investment, underpinned by modern agreements including (our) free trade agreement and the green economy framework,” said Stockwood.
He described Singapore as a “trusted partner” in shaping regional trade rules, with the UK-Singapore Digital Economy Agreement driving a 27 per cent in services trade since it came into force in 2022, and serving as a model for wider agreements in other parts of South-east Asia.
‘Robust and growing’ trade
The 55-year-old Stockwood was appointed to his current role in September 2025 after a reshuffle by Prime Minister Keir Starmer.
Stockwood is a member of the House of Lords and his ministerial position straddles both the Treasury and the Department of Business and Trade.
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Before joining the government, Stockwood held leadership and board roles at insurance provider Simply Business, dating website Match.com, travel websites Skyscanner and lastminute.com.
Singapore was the second leg of his visit to the region, and during his short stay on May 12 he met with executives from businesses that invest in the UK’s real estate, infrastructure and energy sectors.
One of the companies he visited was transport operator ComfortDelGro, which has invested over S$1.2 billion in public transport and point-to-point mobility across the UK.
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Stockwood also met Singapore’s Minister-in-charge of Trade Relations and Minister for Sustainability and the Environment Grace Fu.
Writing about their meeting in a Facebook post on Friday (May 15), Fu said that they welcomed the “robust and growing” trade and investment relationship between the UK and Singapore. They also discussed the potential for deepened cooperation in areas such as research and development and innovation.
Fu and Stockwood exchanged views on emerging technological trends, including quantum computing and the use of artificial intelligence in industry and government.
“The UK is the largest European investor in Singapore and Singapore’s largest outbound investment destination in Europe. There is more that both sides can do together to foster mutual growth amid today’s complex economic environment,” she said.
“I encourage UK and Singapore companies to deepen partnerships and tap on new technologies to drive innovation and growth in both our economies.”
In the interview with BT, Stockwood noted that Singapore is the UK’s second largest investor from Asia, with about £340 billion (S$580.1 billion) in foreign direct investment and portfolio investment in the UK as at the end of 2024. These investments are in sectors such as clean energy, infrastructure, and science and technology.
He cited Singapore lender OCBC’s agreement with the UK’s Office of Investment to commit to finance £10 billion of investment into UK energy, infrastructure and real estate by 2030. This partnership, signed in 2025, marks the largest inward investment pact between the UK government and an Asian bank.
“We are seeing growing interest from Singaporean investors in priority areas such as venture capital for emerging technologies and infrastructure supporting the UK’s clean energy and technology transition,” said Stockwood.
He pointed to the UK’s new Modern Industrial Strategy that aims to provide “long term stability and certainty” for investors for the next 10 years and beyond.
Since the strategy was launched in June last year, the UK government has already secured some £360 billion of investment commitments and supported 120,000 jobs.
“For Singaporean investors, this means barriers unlocked and new investable opportunities in sectors of interest such as infrastructure, clean energy and digital technologies,” he said.
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