About Singapore - Overview
Singapore is considered as one of the best place to set up business. 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. The government is highly attuned to the needs of business,
and the workforce is an efficient and technology-savvy lot.
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 favorable reception of differing cultures, thus explaining its ranking as
the best place to live in Asia (ECA International 2008) for the sixth straight year.
Reliability
Singapore's safe, pro-business environment is supported by a well-respected
government with transparent and consistent policies that protect
companies' physicaland 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.
Economy
Singapore is the most cost competitive business location among industrialised countries
in the world, according to a 2006 study by consultants KPMG. This is based on the
measurement of 27 cost components which include labour, benefits, business facilities,
taxes and utilities. The biggest cost component is labour costs, followed by facility costs
and taxes. |
Overview
