Focus Magazine, a prestigious magazine aimed at promoting French businesses in Singapore and in the region, is a publication written in English, produced by the FCCS (French Chamber of Commerce in Singapore ) and distributed to the French, European and Singaporean Business Communities in Singapore. Each issue deals with a specific subject related to French businesses in Singapore or in Asia.

Last month’s edition welcomed our very own Pascal Bergougnou, Managing Director of GRAITEC Asia-Pacific in Singapore, to talk about the major changes that occurred in Asia Pacific, mainly Singapore, in recent years and his strategic move for the GRAITEC PTE subsidiary. He states: “From commercial to residential, new development to upgrade, retrofits to restorations, Asia is the engine of growth. The Singapore construction sector has enjoyed robust growth with building contracts worth 25.7 billion USD, representing an annual increase of 14% in recent years.”

Singapore’s construction industry is set to grow significantly over the next years. But the political scenario is not as favorable as it should be. Several changes to government policies have affected the construction industry, including a 40% reduction in foreign workers by 2013. As Hubert H. Humphrey, former Vice President of the United States of America, once stated: “Asia is rich in people, rich in culture and rich in resources. It is also rich in trouble.”

Despite this, the Asia Pacific economy is showing signs of recovery from the global recession. The construction industry’s growth will be sustained by demand for public housing and other major infrastructure projects. Organizations like Build Smart Singapore and Building & Construction Authority have been extremely active to achieve higher productivity through the buildable design legislation.