Singapore and Latin America have an enormous growth potential in the digital economy. The two regions can benefit from each other and create value in their respective economies.
Singapore is well positioned as a tech ecosystem with funding available, progressive regulation, a large talent pool and renowned-entrepreneurship. Singapore boast a great number of tech companies with proven solutions/products in the Southeast Asia region that could be deployed to other latitudes like Latin America.
Connectivity is the corner stone for the development of the digital economy. Latin America is a region that is highly connected to the internet, either by SIM connection with 644 million users, representing a 102% penetration rate and more than 326 million of internet mobile users, representing a 52% penetration rate (according GSMA).
Latin American countries share some similarities with Southeast Asian countries through innovation needs. Latin American companies and governments are actively seeking solutions and innovations to improve quality of live and improve business processes. A number of sectors require optimisation by adapting digital innovation, and Singapore meets this need with several solutions that could be "tropicalised" to Latin America.