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Singapore Economic Performances- Part 1

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ECONOMIC PERFORMANCE

No. 1 city with the best investment potential

Singapore now outranks the world as an investment destination, after coming in second for 16 consecutive years.

In its BERI Report 2014-I (April 2014), US-based research institute Business Environment Risk Intelligence (BERI) ranked Singapore first out of 50 major investment destinations in a ranking that assesses operations, politics and foreign exchange. With no restrictions on the repatriation of profits and the import of capital, along with the most favourable operating conditions and strong diplomatic ties, Singapore’s stable political and economic climate creates an ideal environment to invest in.

No. 1 city with the best investment potential

Big corporations like Singapore's ease of business

Why is Singapore the most desirable country for expansion?

Why invest in Singapore?

Top 3 in the world for foreign trade and investment

The nation’s standing in the economic world, ideal geographic location and vibrant lifestyle are among reasons for foreign interest in Singapore.

According to the Globalisation Index 2012, Singapore came in after Hong Kong and Ireland as the country preferred for foreign trade and investment. A number of factors have contributed to this achievement, namely the country’s strategic geographic location, connected networks with the rest of the world, strong legal system and attractive tax system.

Rankings

COMPETITIVENESS AND BUSINESS ENVIRONMENT

The world’s easiest place to do business

The ease of setting up a company in Singapore is a clear advantage when it comes to choosing the best place to do business.

The world’s easiest place to do business

Top 2 most competitive city in the world

Singapore leads the pack among the rest of the global economies when it comes to maintaining its competitive edge.

According to the Global Competitiveness Report 2014 – 2015 by the World Economic Forum, Singapore is the best in Asia in terms of lack of corruption and high government efficiency. It is also recognised for the strength of its goods and labour markets; leading globally in terms of financial market development. The country’s competitiveness is further reinforced by world-class infrastructure with excellent transportation facilities and a strong focus on education that provides personnel with the skills needed for a rapidly changing global economy.

Top 2 most competitive city in the world

Best business environment in Asia Pacific and the world

Singapore has the most conducive environment for business as compared to the rest of its neighbours – and the world.

According to the Economist Intelligence Unit, Country Forecasts Report in 2014, the country was ranked the most attractive as an investment location, both regionally and globally. Factors taken into consideration for ranking purposes were supportive government policies, attractive labour market conditions, a sound infrastructure and financing efficiency.
Rankings
Asia’s most network-ready country

Singapore enjoys the most seamless connectivity in Asia with one of the widest telecommunications networks in the world.

Based on the The Global Information Technology Report 2014 as conducted by the World Economic Forum, Singapore has the best network-ready environment in Asia in terms of market, political and regulatory infrastructure for connectivity. There are also high levels of individual, business and government readiness and usage of technology; making the country the most conducive place for business as compared to the rest of the region.

Asia’s most network-ready country

Asia’s No.1 for best logistics supply chain performance

Singapore is the top in Asia for logistics performance.

Based on a worldwide survey of global freight forwarders and express carriers, the Logistics Performance Index is a benchmarking tool developed by the World Bank that measures performance along the logistics supply chain within a country. Allowing for comparisons across 160 countries, the index can help countries identify challenges and opportunities and improve their logistics performance. The World Bank conducts the survey every two years.

The international LPI analyzes countries in six components:

  • The efficiency of customs and border clearance (“Customs”).
  • The quality of trade and transport infrastructure (“Infrastructure”).
  • The ease of arranging competitively priced shipments (“Ease of arranging shipments”).
  • The competence and quality of logistics services—trucking, forwarding, and customs brokerage (“Quality of logistics services”).
  • The ability to track and trace consignments (“Tracking and tracing”).
  • The frequency with which shipments reach consignees within scheduled or expected delivery times (“Timeliness”).
Asia’s No.1 for best logistics supply chain performance
 

GOVERNMENT

Top 3 in the world for least corruption in the economy
The Singapore government practises an open and transparent approach when it comes to all business matters.
According to The Global Competitiveness Report 2013–2014, Singapore is the least corrupt country in the region where transparency is valued highly; due to clear and strict laws and legislations imposed by the government over business dealings and transactions.
 
Top 3 in the world for least corruption in the economy
Most transparent country in Asia
Government policies in Singapore are clear and transparent when it comes to business.
 
The Global Competitiveness Report 2013–2014 recognises Singapore as a country with sound political infrastructure and policy-making procedures; leading to its ranking as the most transparent country in Asia that enjoys a stable business environment.
Most transparent country in Asia

EXPATRIATE LIVING

Asia’s best country to work in

As voted by its labour force, Singapore is the best country to earn a living in Asia.

Based on the Global Competitiveness Report 2011 – 2012 by the World Economic Forum, besides the city’s standard of living, Singapore’s working conditions are the best in the region as employees are deemed to be better taken care of due to effective labour policies and a general employer mind-set that allows for employees to enjoy a balance in life.

Rankings

Top 2 in Asia for best quality of life

Singapore has been ranked the 2nd place to live, work and play as compared to its neighbouring countries.

Based on the Quality of Living Worldwide City Rankings in the Mercer Survey 2014, Singapore has the 2nd best environment, facilities and infrastructure available for citizens to enjoy a good quality of life due to a stable political climate, world-class transportation and healthcare system as well as entertainment variety.

Country with best quality of life in Asia

Business-centric immigration laws for foreign talent

Singapore’s convenient geographic location has made it an ideal hub for foreign talent.

According to the IMD World Competitiveness Yearbook in 2011, Singapore has a relatively open labour policy that is business-centric and foreign talent-friendly.

Rankings

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Guest Tuesday, 16 July 2019
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District 17
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District 26
Springside Road Condo |
District 27
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Executive Condo
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