Andorra strengthens ties with Singapore. The Andorran Government, through the figure of the Minister of the Presidency, Economy and Business, Jordi Gallardo, has explored the possibility of closing a reciprocal agreement on foreign investment that speeds up investments between the two countries. Gallardo met in Singapore with the Deputy Prime Minister and Coordinating Minister for Economic Policies, Heng Swee Keat.
The possible pact would have the objective of generating a platform for the internationalization of the two economies. The agreement with one of the leading commercial countries in Asia is a step to explore a possible double taxation agreement in the medium or long term. Likewise, the meeting has put on the table the possibility of reaching another agreement with Enterprise Singapore in terms of entrepreneurship and innovation ecosystem. The Minister of the Presidency, Economy and Business stated that "the objective has been to convey to the Singapore Executive the will to increase investment between the two states through an agreement that favors foreign investment, and also to put the two investment agencies in contact to favor the contact of the ecosystems of emerging companies and innovation of the two countries”.
Jordi Gallardo took advantage of the visit to hold a work meeting at Galen Capitaland, a space specially designed for companies in RD engineering, chemicals, life sciences and digital processes. Gallardo learned about the Smart Urban Co Innovation Lab, a platform that offers industry professionals a platform to co-innovate, collaborate, and test smart solutions.
The mission in Singapore also served for Andorra to participate in the Global Sports Innovation Center (GSIC) summit, which was held for the first time in the Asian country with the aim of connecting the business and sports technology ecosystems of all continents with the Asian market. Andorran participation is part of the collaboration agreement signed with the GSIC powered by Microsoft.
During the opening day, an analysis was made of how innovation is affecting major sporting events. In the same way, work sessions were held for start-ups with actors and investors from the Asian sports industry. Topics covered have included sponsorship, creating new revenue streams, fan engagement, the metaverse and sports, all discussed with government and agency representatives from Australia, the United States, South Korea South, Saudi Arabia, Spain, Finland, Singapore and Andorra.
Jordi Gallardo presented the economic, innovation and promotion model for the sports sector. Likewise, the Andorran minister highlighted the principality's potential as a top-level mountain and altitude training destination throughout the year, future projects and priority sectors with added value promoted by Andorra. In his opinion, "we have been able to explain the diversification strategy and how we are orienting ourselves in the sector, in sports and e-sports, and everything that is linked to the digital transformation and innovation of the new economy ”. For his part, the CEO of Microsoft Sports Business, Sebastian Lancestremere, pointed out that "we are very happy to have had the participation of Andorra and the contributions made".
In addition, meetings were held between the main players in the Singapore sports sector, with whom knowledge was exchanged and progress was made in the development of networking. Some of the participating entities were Sport Singapore, One Championship, One Esports, IMG, Infront Sports, Sports Hub, Porsche, SAS, LaLiga Tech, Southworks, Microsoft, Football Association of Singapore, Lion City Sailors and Fiba 3x3.
On the other hand, Jordi Gallardo discussed with the Minister of Commerce, Industry, Culture and Youth of Singapore, Alvin Tan, a collaboration memorandum on investment, start-ups and innovation. There was also a meeting with SGTech, the leading trade association for the Singapore technology industry that encompasses more than a thousand companies, from multinational corporations to small and medium-sized companies and start-ups.
