Uber's Singapore hub a signal more will follow

Uber's APAC director of policy and communications Amy Kunrojpanya says Singapore is a good model for Uber to witness "how future smart cities think".SINGAPORE is poised to draw in more unicorns - private companies valued over US$1 billion - as a launchpad for regional expansion with its favourable business climate and access to talent, say market watchers.

While it may seem unusual for Uber to double down on a non-operational market, industry watchers such as Jamus Lim, associate professor of economics at ESSEC Business School APAC, are not surprised. DBS senior economist Irvin Seah expects that more foreign unicorns will set up regional headquarters here. Singapore is a"natural destination" for tech-driven firms to scale regionally, given the country's reputation as a hub for multinational corporations, he told The Business Times.

A"strong focus on research and development with an open-minded regulatory regime" is another key appeal, said Patrick Yeo, venture hub leader at PwC Singapore.

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