DPM Gan warns against economic insularity as EnterpriseSG opens Texas office to deepen US ties

[AUSTIN, TEXAS] Singapore must resist the global shift towards insular economic policies, and instead deepen links with trusted partners to navigate growing geopolitical fragmentation, said Deputy Prime Minister Gan Kim Yong.

Speaking at the launch of Enterprise Singapore’s (EnterpriseSG) new overseas centre in Austin, Texas, on Monday (Apr 13), he warned that turning inward would narrow the Republic’s access to markets, constrain opportunities for growth and ultimately hamper its ability to respond to shocks.

“By working together, we can build capabilities that no single economy can develop alone, and allow our economies to remain competitive,” said DPM Gan, who is also minister for trade and industry.

The overseas centre in Austin is the fourth such centre in the US and the first non-coastal office within the country. EnterpriseSG also has centres in New York, San Francisco and Los Angeles.

The centre will support local firms’ expansion into the US, particularly within Texas – a state that generated nearly US$9 billion in bilateral goods trade in 2025, making it the second-largest trading partner with Singapore at a state level.

The overseas centre will also seek to strengthen two-way trade, investment and innovation partnerships between the US and Singapore.

Across the broader market, the US’ trade surplus with Singapore stood at more than US$33 billion in 2025. Singapore’s investments support over 350,000 jobs in America, and more than 250 local companies operate across the nation.

A bilateral relationship

Texas stands out as one of the key partners of Singapore, “not only because of its size, but also because of its role in sectors that are central to the future of the global economy”, said DPM Gan.

The southern state – a strategic hub across energy, manufacturing, technology and innovation – has a trade surplus with Singapore of US$5.38 billion in 2025, according to data from the US International Trade Administration.

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Close to 60 Singapore companies across various industries operate within Texas, making it the third-largest concentration of Singapore companies within the US, after California and New York.

EnterpriseSG chairman Lee Chuan Teck pointed to Austin’s fast-growing startup and tech ecosystem as the primary draw for the location of the overseas centre.

“We see many exciting opportunities for Singapore companies, particularly in energy, advanced manufacturing and technology,” he said.

Austin’s gross domestic product is expanding at 3.7 per cent, making it one of the fastest-growing metropolitan areas. Texas’ 4 per cent GDP growth has also outperformed the national average.

While the Austin centre was officially launched on Monday, it was already established nine months ago. Since its inception, the centre has supported five business missions within Texas.

“As we look to the future, the partnership between Singapore and the United States – and between Singapore and Texas – will become even more important,” said DPM Gan.