Singapore has
many accolades pegged to its brand, bolstering the Republic’s reputation as a
key regional and global hub for companies to do business. Discover key facts
and rankings about Singapore today.
No. 1 city with the best investment
potential
Singapore
now outranks the world as an investment destination, after coming in second for
16 consecutive years.
In its
BERI Report 2011-II (August 2011), US-based research institute Business
Environment Risk Intelligence (BERI) ranked Singapore first out of 50 major
investment destinations in a ranking that assesses operations, politics and
foreign exchange. With no restrictions on the repatriation of profits and the
import of capital, along with the most favourable operating conditions and
strong diplomatic ties, Singapore’s stable political and economic climate
creates an ideal environment to invest in.
Top 3 in the world for foreign trade
and investment
The nation’s
standing in the economic world, ideal geographic location and vibrant lifestyle
are among reasons for foreign interest in Singapore.
According
to the Globalisation Index 2012, Singapore came in after Hong Kong and Ireland
as the country preferred for foreign trade and investment. A number of factors
have contributed to this achievement, namely the country’s strategic geographic
location, connected networks with the rest of the world, strong legal system
and attractive tax system.
The world’s easiest place to do
business
The ease of
setting up a company in Singapore is a clear advantage when it comes to
choosing the best place to do business.
According
to the Doing Business 2012 Report by the World Bank, Singapore is the easiest
place in the world to conduct business, partly due to the hassle-free way in
which administrative matters are handled. Singapore helps simplify the process
of setting up by making it simple to incorporate a company and register for
taxes by using the same online form. Forms for construction permits, new
workplace safety and healthcare regulations can also be submitted online. In
addition, Singapore eased property registration by improving on its
computerised system.
Top 2 most competitive city in the
world
Singapore
leads the pack among the rest of the global economies when it comes to maintaining
its competitive edge.
According
to the Global Competitiveness Report 2011 – 2012 by the World Economic Forum,
Singapore is the best in the world in terms of lack of corruption and high
government efficiency. It is also recognised for the strength of its goods and
labour markets; leading globally in terms of financial market development. The
country’s competitiveness is further reinforced by world-class infrastructure
with excellent transportation facilities and a strong focus on education that
provides personnel with the skills needed for a rapidly changing global
economy.
Best business environment in Asia
Pacific and the world
Singapore
has the most conducive environment for business as compared to the rest of its
neighbours – and the world.
According
to the Economist Intelligence Unit, Country Forecasts Report in December 2011,
the country was ranked the most attractive as an investment location, both
regionally and globally. Factors taken into consideration for ranking purposes
were supportive government policies, attractive labour market conditions, a
sound infrastructure and financing efficiency.
Asia’s most network-ready country
Singapore
enjoys the most seamless connectivity in Asia with one of the widest
telecommunications networks in the world.
Based
on the Global Information Technology Report 2010 – 2011 as conducted by the
World Economic Forum, Singapore has the best network-ready environment in Asia
in terms of market, political and regulatory infrastructure for connectivity.
There are also high levels of individual, business and government readiness and
usage of technology; making the country the most conducive place for business
as compared to the rest of the region.
World’s No. 2 and Asia’s No.1 for
best intellectual property protection
Singapore
recognises intellectual property (IP) as an invaluable asset in shaping a
knowledge-based economy.
In its
Global Competitiveness Report 2011 – 2012, the World Economic Forum has ranked
Singapore as having the best IP protection based on the infrastructure and
incentives put in place by the government to encourage innovation by existing
and emerging industries.
Asia’s least bureaucratic place to do
business
Businesses
who plan to invest in Singapore need not worry about the hassle of red tape or
the slowing down of operations.
The IMD
World Competitiveness Yearbook in 2011 has deemed Singapore to be the least
bureaucratic country in Asia – making it the perfect place to set up an
operations base or business. Rankings were based on government interference,
attractive policies, transparency and accountability.
World’s No. 7 and Asia’s No.1 for
least corruption in the economy
The
Singapore government practises an open and transparent approach when it comes
to all business matters.
According
to the IMD World Competitiveness Yearbook in 2011, Singapore is the least
corrupt country in the region where transparency is valued highly; due to clear
and strict laws and legislations imposed by the government over business
dealings and transactions.
Most transparent country in Asia
Government
policies in Singapore are clear and transparent when it comes to business.
The IMD
World Competitiveness Yearbook in 2011 recognises Singapore as a country with
sound political infrastructure and policy-making procedures; leading to its
ranking as the most transparent country in Asia that enjoys a stable business
environment.
Best labour/employer relations in
Asia
The
relationship between employee and employer in the average Singapore workplace
is the best in the region.
According
to the Global Competitiveness Report 2011 – 2012 by the World Economic Forum,
Singapore enjoys better working conditions and higher rates of productivity due
to more open communication channels and camaraderie between employee and
employer.
Asia’s best country to work in
As voted by
its labour force, Singapore is the best country to earn a living in Asia.
Based
on the Global Competitiveness Report 2011 – 2012 by the World Economic Forum,
besides the city’s standard of living, Singapore’s working conditions are the
best in the region as employees are deemed to be better taken care of due to
effective labour policies and a general employer mind-set that allows for
employees to enjoy a balance in life.
Country with best quality of life in
Asia
Singapore
has been ranked the best place to live, work and play as compared to its
neighbouring countries.
Based
on the Quality of Living Worldwide City Rankings in the Mercer Survey 2011,
Singapore has the best environment, facilities and infrastructure available for
citizens to enjoy a good quality of life due to a stable political climate,
world-class transportation and healthcare system as well as entertainment
variety.
Business-centric immigration laws for
foreign talent
Singapore’s
convenient geographic location has made it an ideal hub for foreign talent.
According
to the IMD World Competitiveness Yearbook in 2011, Singapore has a relatively
open labour policy that is business-centric and foreign talent-friendly.
No comments:
Post a Comment