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Why do business in 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 globalization, 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' 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.

Singapore Rankings

The 2nd Most Competitive Economy:
Rank: 1
Source: IMD World Competitiveness Yearbook 2008

Most Cost-Competitive Place for Business:
Cost index-77.7 1
Rank: 1
Source: KPMG Competitive Alternatives Study, 2006

World's easiest place to do business
Rank 1
Source: World Bank report: "Doing Business 2007: How to Reform"

Singapore tops World Business Environment rankings
Rank: 3
Total Score: 8.70
Source: EIU Country Forecast, February 2008

World's Most 'Network Ready' Country
Rank: 2
Global Information Technology Report 2005/06, World Economic Forum

2nd Most Technologically Ready Nation in Asia
Global Rank: 11
Source: Global Competitiveness Report 2006-2007

Best Labor Force
Rating 88
Rank: 1
Source: BERI's 2007 Labor Force Evaluation Measure (LFEM) report

Countries with the least restrictive immigration laws for employing foreign labor
Rank 4
Source: IMD World Competitiveness Yearbook 2006

2nd in the World for Global Potential Competitiveness
Rank 2
Source: Japan Center of Economic Research, 2007

Most attractive investment incentives in Asia
Global Rank: 4
Source: IMD World Competitiveness Yearbook 2005

1st in the World for Quality of Air Transportation
Rank: 1
Source: World Competitiveness Yearbook 2006

Best Quality for Port Infrastructure
Rank: 1
Source: Global Competitiveness Report 2006-2007

2nd in the world for Investment Potential, 1st in Asia
ROR Score: 78
Global rank: 2
Source: BERI Report August 2006

Bureaucracy and Red Tape in Asia
Rank: 1
Score: 2.48/10 (0=Least, 10=Most)
Source: Political and Economic Risk Consultancy, June 2006

World's Top 20 Most Globalised Nations
Rank: 1
Source: A.T. Kearney/FOREIGN POLICY Magazine Globalization Index 2006

Perceptions of Corporate Governance Standards
Rank: 1
Singapore: 2.4/10 (0=best, 10= worst)
Source: Political and Economic Risk Consultancy, June 2006

World's 2nd Freest Economy
Source: The Heritage Foundation, Index of Economic Freedom 2007

Extensive Trade Links

Singapore is Enterprise Greenhouse. Singapore has signed numerous free trade agreements (FTAs) in the past years and currently has the most extensive FTA network in Asia. FTAs remove the barriers to trade and investment, thus creating a freer flow of goods, services and people.
Singapore has 14 bilateral and multilateral trade agreements:

  • ASEAN Free Trade Area (AFTA)
  • ASEAN-China (ACFTA)
  • ASEAN-Korea (AKFTA)
  • Australia (SAFTA)
  • EFTA (European Free Trade Association: Iceland, Liechtenstein, Norway, Switzerland)
  • Jordan (SJFTA)
  • India (CECA)
  • Japan (JSEPA)
  • New Zealand (ANZSCEP)
  • Panama (PSFTA)
  • Peru
  • South Korea (KSFTA)
  • Trans-Pacific Strategic Economic Partnership Agreement (Trans-Pacific SEP): Brunei, New Zealand, Chile, Singapore
  • United States of America USSFTA

Intellectual Property Protection

Companies who locate their Intellectual Property base in Singapore are able to ever age upon Singapore's vibrant financial sector; strong technological and manufacturing capabilities; and global connectivity to realize the maximum value of their IP. Companies are able to leverage on the vibrant venture capital (VC) industry, of over 150 VC firms managing over S$16 billion, to rise financing to commercialize their IP.
Abundant expertise is provided to ensure you have all the services you need for new patents, copyrights and trademarks - IP litigation, technology intelligence, and IP valuation. Come to Singapore now, we ensure you can create, own and exploit your own idea!

IPOS provides the infrastructure, platform and environment for the creation, protection and exploitation of intellectual property

WIPO is an international organization dedicated to promoting the use and protection of works of the human spirit.

Conducive Environment

Behind every successful business is an enriching and supportive environment that made success possible. Singapore offers that business-conducive environment, providing a pro-business ecosystem, a responsive and business-savvy government, world class services from a leading financial centre, and a vibrant culture and lifestyle that welcome all. Singapore offers:

Pro-business Environment
Responsive Government
Leading Financial Centre
Vibrant Lifestyle

Talented Manpower

A world class workforce is not born overnight; it is cultivated over time. Singapore is able to offer a globally top-ranked working populace, recognized for its high level of productivity, technical proficiency and positive work attitude, because of our continued investment in expertise-training to ensure depth of knowledge and currency of skill. Developed in tandem with industry partners, these training and scholarship programmers provide industry-relevant competencies to a workforce already proficient in English, dedicated to their work and eager to enhance their skills and knowledge.

Manufacturing Excellence

MAXA represents the highest global standards in manufacturing innovation and excellence. Manufacturing contributes to a quarter of Singapore’s economy.
The Singapore government is committed to the long term growth of the manufacturing sector and to sustaining its contribution to Singapore’s Gross Domestic Product. EDB has also committed to increase Singapore’s manufacturing output to S$300 billion by 2018.

International Headquarters

Singapore is a premier choice location for International Headquarters
Singapore has been a choice HQ location in Asia where American, European and Japanese companies engage Asia. In recent years, Asian companies have also chosen Singapore as a launch pad for engaging the world! It is in Singapore that they can interact, transact and form exciting partnerships. 26,000 international companies call Singapore home. Of these, 60% of 7,000 foreign MNCs have regional activities in Singapore.

  • Regional treasury centers are attracted to Singapore to tap on one of the world’s largest foreign exchange market with a strong base of financial institutions.
  • Singapore is amongst a handful of countries with AAA credit rating.

Singapore’s network of over 50 comprehensive Double Taxation Avoidance Agreements and over 30 Investment Guarantee Agreements give HQs here an edge for cross-border activities.