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 2005).
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 cheapest place to do business among industrialised
countries in the world, according to a new 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
