Luxembourg opens trade and investment office in Singapore

Luxembourg's global network of trade and investment offices (LTIOs) helps international companies expand into the Luxembourg and Europe markets. Steven Koener, Executive Director of the newly opened LTIO Singapore, explains how Luxembourg simplifies European market entry for Asian businesses, highlights key sectors for collaboration – including finance, fintech and space technologies – and outlines the support available to Singaporean companies seeking a strategic European base.

Why is it interesting to intensify the economic links between Luxembourg and Singapore?

Steven Koener: I often say that Singapore and Luxembourg understand each other instinctively. We are both small countries that have built our success by being open, connected and internationally minded.

For Singaporean companies looking at Europe, Luxembourg can play a role similar to Singapore’s in Asia. It’s a place where international companies come to establish their European headquarters, access markets and connect with investors. Europe is a very large and sophisticated market, but it can sometimes appear complex from the outside. Luxembourg has developed a lot of expertise in helping international companies navigate that environment.

For Singaporean companies looking at Europe, Luxembourg can play a role similar to Singapore’s in Asia. It’s a place where international companies come to establish their European headquarters, access markets and connect with investors. 
Steven Koener, LTIO Singapore

So, strengthening the links between Singapore and Luxembourg really means creating a smoother bridge between Asia and Europe.

Are there any fields in which you see particular potential for collaboration?

Finance is obviously one of the most natural areas. Luxembourg is Europe’s leading centre for investment funds, and Singapore is one of Asia’s most important financial hubs. There is already a lot of interaction between our financial ecosystems, and I think that will only grow stronger.

But there are many other areas too. Luxembourg has developed a very dynamic ecosystem in fields like:

• fintech
• data infrastructure
• cybersecurity
• space technologies

These are sectors where Singapore is also very active. When you connect two economies that are both highly innovative and globally oriented, you naturally start seeing interesting partnerships emerge.

Since your arrival in Singapore, have you noticed any similarities – or differences – between the two countries and their business cultures? 

One of the striking similarities is the international mindset. In Luxembourg and Singapore, businesses are very outward-looking by default. Companies are experienced in cross-border business, working with international partners, and thinking globally from the start.

There is also a shared emphasis on efficiency, reliability and pragmatism. Both countries have built reputations as predictable, well-regulated places to do business, and that creates trust among international partners.

One of the striking similarities is the international mindset. In Luxembourg and Singapore, businesses are very outward-looking by default.
Steven Koener, LTIO Singapore

Of course there are also differences. Singapore’s scale and pace can sometimes feel more intense, reflecting its role as a major Asian hub with a very large regional market around it. But overall, I would say the similarities outweigh the differences, which is precisely why cooperation between the two countries works so well.

What are your priorities for the startup phase of the LTIO and the next few years?

Right now, the priority is really to build connections. Luxembourg opened its resident embassy in Singapore quite recently, which gives us a great opportunity to deepen our engagement with the local ecosystem.

Many Singaporean companies are already very international, but they may not always realise how well positioned Luxembourg is as a European base.
Steven Koener, LTIO Singapore

It is worth noting that Luxembourg has long maintained a presence here through our honorary consul, who has played an important role in supporting the relationship over the years. The opening of the embassy now allows us to build on that foundation and further strengthen our engagement on the ground.

Our objective is to meet institutions, companies, investors and startups that are looking at Europe and explain how Luxembourg can support their expansion. Many Singaporean companies are already very international, but they may not always realise how well positioned Luxembourg is as a European base. A big part of our work at this stage is simply to start those conversations and create the right connections.

What aspects of Luxembourg do you highlight particularly to your contacts in Singapore?

When I speak with companies here, I usually try to make one simple point: Luxembourg makes Europe easier to access. It is located right in the heart of the European Union, it has a very international workforce, and it has built a lot of expertise in helping companies operate across borders.

And then there is the financial ecosystem. Luxembourg is one of the world’s largest centres for investment funds and international finance, which makes it particularly attractive for companies that want to structure investments or raise capital in Europe. In a way, Luxembourg and Singapore share the same DNA. Both are small, but very connected hubs that help companies operate internationally. And that similarity often resonates quite strongly with business leaders here.