Singapore’s retail ownership data sparks debate about foreign chains’ influence

Singapore's Trade Minister revealed that locals own nearly 90% of registered retail businesses in the city-state, while Chinese nationals own 3%, according to data from the Accounting and Corporate Regulatory Authority as of January 8th. This data, covering sectors like food and beverage, clothing, and supermarkets, has sparked debate about the influence of foreign chains. Despite the small percentage of foreign-owned businesses, particularly those from China, some critics believe these entities are often large brands with multiple outlets, potentially overshadowing smaller local businesses. Others caution that the high visibility of popular foreign chains in prime locations may create a distorted perception of their overall market share. The data also showed that Malaysians and Indians each own about 0.9% of registered retail businesses.

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