There are many superlatives attributed to Singapore and the city-state has been consistently ranked high for a number of reasons in reports from all over the world.
Situated at the crossroads of international trade routes, Singapore is a top location for foreign investors, be they multinationals, part of Europe’s dynamic middle-market or technology start-ups. The on-going liberalisation of markets and industries and the privatisation of government-linked companies (‘GLCs’) offer excellent opportunities to invest in Singapore and the neighbouring markets. Integration of the 10 ASEAN countries under a free trade area (AFTA) with a population of more than 500 million people is on track. Free Trade Agreements with the US, Australia, Japan and many other countries provide easier access to the global market
Economic Performance
Singapore is among the Top 3 in foreign trade and investment
Singapore is ranked No.2 worldwide as the city with the best investment potential for 16 consecutive years
Competitiveness & Business Environment
Singapore is ranked first for having the most open economy for international trade and investment
Singapore is the world’s easiest place to do business
Singapore is ranked the most competitive country in the world
Singapore is the best business environment in Asia Pacific and worldwide
Singapore is Asia’s most “network ready” country
Business Legislation and Efficiency
Singapore is first in the world for having the best protection of intellectual property
Singapore is the least bureaucratic place for doing business in Asia
Government
Singapore is ranked 5th in the world and 1st in Asia for having the least corruption in its economy
Singapore is ranked the most transparent country in the world and Asia
Labour
Singapore maintains top position in BERI’s Labour Force Evaluation Measure
Singapore is ranked 7th in the world and 3rd in Asia for having the most motivated workforce
Singapore is among the top 5 in Asia for the best skilled labour
Singapore’s labour regulations are the most business conducive in Asia
Singapore has the world’s best labour/employer relations
Expatriate Living
Foreign talent rank Singapore as Asia’s best country to work in
Singapore is the first choice for Asian expatriates
Singapore is the best place in Asia to live, work and play
Singapore immigration laws for foreign talent highly-regarded for being business-centric
Source: EDB Singapore
At the heart of Singapore’s thriving business ecosystem is a unique blend of competitive strengths that makes Singapore the location of choice for global enterprises. This distinctive combination of CORE competencies, coupled with Singapore’s physical and metaphorical location between Western sophistication and Eastern growth potential, confers a host of benefits to the businesses that invest and reside here. A cosmopolitan society, Singapore is an ideal platform for the meeting of global talents, ideas, funds and businesses.
Connectivity
Singapore’s extensive network of Free Trade Agreements, Avoidance of Double Taxation Agreements and Investment Guarantee Agreements, as well as its comprehensive air, sea and IT infrastructures, provides for the seamless flow of goods and services to markets around the world.
Openness
Singapore’s willing acceptance of globalisation, and its corresponding foreign cultural and economic infusion, has a circuitous effect on the national ethos through the engendering of cosmopolitanism, which in turn stimulates openness. With a foreigner-local ratio of 1:4 and university enrolment of foreign students at 20% of yearly intake, Singapore has demonstrated its favourable reception of differing cultures, thus explaining its ranking as the best place to live in Asia (ECA International 2005).
Reliability
Singapore’s safe, pro-business environment is supported by a well-respected government with transparent and consistent policies that protect companies’ physical and IP investments.
Enterprise
Home to a concentration of international enterprises, headquarters operations and startups, Singapore has a vibrant enterprise ecosystem that fuels interaction and growth.
Source: EDB Singapore
Regards,
Jerry Lim, Director
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