A recent article first published by The Nanyang Business School

Singapore is a world-class city to work, study, live and play. This globally connected, multi-cultural, cosmopolitan city-state offers a conducive environment to numerous industries, including creative and knowledge-driven ones.

Abundant Opportunities

Global businesses find it advantageous to site their headquarters in Singapore. Strong trade and investment makes Singapore the most competitive Asian country (Global Competitiveness Report 2008). The World Bank also ranks the Republic as the world’s easiest place to do business (Doing Business 2009 report).

By situating their international HQs here, some 6,000 multinational companies benefit from Singapore’s network of over 50 comprehensive Double Taxation Avoidance Agreements. They also gain from Singapore’s many free trade agreements and the 35 Investment Guarantee Agreements. These FTAs have enabled Singapore to establish agreements with countries that cumulatively, contribute to at least 60% of the world’s GDP. Companies can always rely on protection of their ideas and innovations through Singapore’s rigorous enforcement of its intellectual property laws.

Singapore is a leading provider of services such as international banking, trade finance, maritime finance, insurance, treasury operations, and asset and wealth management within the region. Singapore is the fourth largest foreign exchange trading centre in the world.

Companies based in Singapore can tap the diverse capital markets and cutting-edge financial services from more than 500 local and foreign financial institutions here. In addition, there are over 4,500 companies offering professional services, including audit, accounting and management consulting; market research, advertising and public relations; human capital services; and legal services.

Singapore is also fast emerging as an optimal destination for the centralisation of services or “shared services”. Centralising services such as IT, finance and logistics, offers benefits such as lower operating costs, consistent service levels and enhanced productivity.

Business Legislation and Efficiency: Competitiveness & Business Environment: Labour:
  • Singapore is ranked No. 1 for having the most open economy for international trade and investment.
  • Singapore is the world’s easiest place to do business.
  • Singapore has the best business environment in Asia Pacific and worldwide.
  • Singapore is Asia’s most “network ready” country.
  • 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.
  • Singapore is ranked the most competitive country in the world.
  • Singapore is ranked No. 1 for having the most open economy for international trade and investment.
  • Singapore is the world’s easiest place to do business.
  • Singapore has the best business environment in Asia Pacific and worldwide.
  • Singapore is Asia’s most “network ready” country.
  • Singapore maintains top position in BERI’s Labour Force Evaluation Measure.
  • Singapore is ranked 7th in the world and 2nd in Asia for having the most motivated workforce.
  • Singapore offers the best skilled labour in Asia Pacific.
  • Singapore’s labour regulations are the most business conducive in Asia.
  • Singapore has the best labour/employer relations in Asia.
Government: Economic Performance: Expatriate Living:
  • Singapore is ranked 4th 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
  • Singapore is ranked No. 2 worldwide as the city with the best investment potential for 15 consecutive years.
  • Singapore is the world leader in foreign trade and investment.
  • 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 are the least restrictive in Asia.

Rankings of Singapore

Singapore tops Asian social capitalCaux Round Table
In 14th place, Singapore has emerged as the highest-ranked Asian state in a global index of wealth and social resilience. The index, produced by the Caux Round Table, ranks 200 countries according to pillars such as economic activity, quality of life and legal and political institutions.

Asia’s most liveable cityMercer Quality of Living Survey
Singapore has been ranked as the Asian city with the highest quality of living, as well as the city with the world’s best infrastructure, in the latest Mercer Quality of Living Survey.

Best Passenger Experience Awards – Metro Awards 2008
Singapore’s Mass Rapid Transit system, better known as the MRT, has won the “Best Passenger Experience” award at the inaugural Metro Awards in Denmark. The award, which was given out during an annual conference for the urban rail industry, was based on criteria such as: value for money, efficiency and reliability, track record, cleanliness and security as well as the ability to deal with overcrowding.

Singapore wins Global Water Awards 2008
NEWater, Singapore’s high-quality reclaimed water, has been garnering a lot of recognition from around the world. The latest accolade it has received is the “Environmental Contribution of the Year” title at the Global Water Awards 2008.

Singapore Best City in the World to live in for Asia Expatriates – ECA International 2007
Asian expatriates have voted Singapore as their preferred destination, according to a location ranking survey of 254 cities, conducted by ECA International. The report said Singapore won the award because of its excellent infrastructure and facilities, coupled with its cosmopolitan makeup, low crime, socio-political stability and favourable climate.

 

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