The business world has for many years seen Singapore as a safe, efficient thriving point of entry into the booming Asian markets. Numerous businesses have taken advantage of the nation’s strategic location, strong infrastructure, diversified workforce, legal system and business-friendly environment. Singapore’s strategic geographical location enables easy access to markets in Thailand, Vietnam, Cambodia, Malaysia, Indonesia, the Philippines and Myanmar. Its port has links to over 600 other ports in 123 countries via 200 shipping lines and Singapore’s Changi Airport was ranked among Asia’s top five for air cargo.
Numerous international companies have set up their regional headquarters in Singapore, giving it further recognition as a strategic point within the rest of South-East Asia for many international companies who base their regional headquarters here. What’s more, Singapore has created an easy system for establishing and maintaining business. There are various government policies set in place to facilitate the vibrant business environment Singapore enjoys, including attractive and competitively low corporate and personal tax rates and an excellent financial infrastructure.
Apart from being a booming global financial hub, it was also named Asia’s greenest city in 2016. Since independence in 1965, Singapore’s strategy has been to create a garden city with abundant lush greenery and a clean environment to make life more pleasant for the people. Singapore is also home to a diverse range of industries with different needs and specialties.
It also provides world-class specialised infrastructure including the Airport Logistics Park of Singapore (ALPS) in the airport’s free-trade zone, the Changi International LogisPark which facilitates regional distribution and the Banyan LogisPark on Jurong Island which caters to the specific demands of chemicals and oil companies. The country has built a foundation of strong trade and investment platforms, giving it a competitive edge. Over the years, Singapore has consistently been ranked among the top in global competitiveness and business friendliness surveys.
Other attractions that make Singapore a favoured entry point apart from its robust economic structure and cultural diversity are its attractive tax rates. Singapore has one of the lowest corporate and personal tax rates in the world which helps attract foreign investments and talents. Also, the government’s repeated emphasis on increasing productivity and education has given Singapore one of the more competitive workforce in the world. The government also keenly attracts foreign talents into its shore.
Some government policies advisory board have reputable foreigners in respective fields sitting at the board or in advisory positions. A further attraction is that there are no natural disasters in Singapore and it is safely out of the earthquake zone. There is also continually great emphasis on religious harmony and tolerance by Singapore leaders confirming its status as the ideal strategic entry point for Asian markets.