British luxury home appliance maker Dyson said there was a simple reason behind its recent decision to move to Singapore: the “increasing importance of Asia” for its business, according to a recent article in Nikkei Asian Review.

“There are skeptics who believe the relocation has more to do with government incentives, such as tax breaks. Others point to Brexit, even though founder James Dyson has been an outspoken advocate for leaving the European Union.”

“Whatever Dyson’s motivations may be, the move signals Singapore’s growing importance as a regional hub for global companies, including manufacturers.”

“Dyson is not the first British manufacturer to move in. Rolls Royce, the engineering company, chose tiny Singapore as its regional center for civil and defense aerospace, marine and power systems, among other functions. Its state-of-the-art factory turns out hundreds of engines a year and employs thousands of workers.”