Global IT Companies Headed to Singapore One After Another
Excellent Infrastructure and Regulatory Relaxation Appeal
Video Solution Zoom Opens R&D Center
Facebook and Twitter Also Establish Data Centers
[Asia Economy Singapore Correspondent Ju-mi Seo] As the novel coronavirus disease (COVID-19) situation prolongs and contactless and untact lifestyles become common, IT solutions related to remote work and online classes are gaining attention. Along with the growth of this digital ecosystem, demand for supporting server management and data centers is also increasing, leading to active entry of global IT companies into Singapore. Mainly healthcare, logistics, remote work, and productivity-related IT solutions are attracting attention, and with the advent of the 5G era, ICT companies are expected to grow further.
Video solution provider Zoom Video Communication recently announced the opening of a new research and development (R&D) center in Singapore. Along with this, the company is expanding the scale of its existing data center twofold, strengthening its presence in the region. In particular, with the establishment of the R&D center, it plans to hire hundreds of additional employees to take on key engineering roles.
Social media platform Twitter also recently opened its first technical support center in the Asia-Pacific region in Singapore, and Facebook is reportedly planning to build a data center worth 1.4 billion Singapore dollars (approximately 1.1571 trillion KRW) by 2022. This is Facebook's first data center in Asia, and at the time of the announcement, Facebook cited Singapore's excellent infrastructure, regulatory relaxation, and business environment as advantages.
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Meanwhile, Chinese IT companies have also begun turning their attention to Singapore, where regulations are relatively less strict and IT infrastructure is well developed. Tencent, the parent company of the Chinese messenger program WeChat, recently established a Southeast Asia regional hub in Singapore and decided to relocate some business sectors, including gaming, entirely to Singapore to strengthen the hub. Additionally, ByteDance, the company behind the video application TikTok, has declared its entry into the Southeast Asian fintech market using Singapore as a foothold during its application process for a digital banking license in Singapore.
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