A city-state on the equator, nearly at the bottom of the Asian continent, has discovered the secret to success; Singapore continues to thrive and enjoy an independent, self-directed culture. Despite having few resources and being very small for a country. Singapore has one of the world’s strongest economies and boasts a high standard of living. It is also one of the most beautiful cities globally, integrating the natural world into structures and technology and creating new world wonders. Singapore is doing things right.
- Great Place to do Business: A big part of Singapore’s economic success is the result of its commitment to creating a fertile atmosphere for businesses to grow and develop. Setting up a Private Limited company in Singapore is straightforward, with very little bureaucracy and government interference. Because of Singapore’s commitment to creating a business culture. They have seen their economy grow exponentially over the years since they became independent in 1959, and their GDP per person has risen from 500 USD in 1960 to 60,000 in 2020. Because Singapore has moved forward with a unified vision for so many years, they have created the perfect business environment.
- Strategically Located: Singapore occupies the most favourable location on the strait of Malacca. Virtually all the shipping from the Pacific to the Indian Ocean and back again flows past their port. Because of this, Singapore was able to have unprecedented growth, which gave rise to Singapore also becoming an important aviation hub. Although being only a city-state, Singapore has a tremendous presence in the region. You can find direct flights to Singapore’s famous Changi Airport from almost any part of the world.
- Multicultural: Singapore is in some ways the perfect nexus between Chinese and Western Business. Both cultures have deep roots in Singapore, which facilitates international business most efficiently, providing companies access to Asian manufacturing and western markets simultaneously. And the benefits of multiculturalism do not end with business. Singapore is like no other place in the world, providing the best of everything that the region and the world offers. From entertainment to education and world-class cuisine. Singapore has it all.
- Future Minded: Singapore is a very technologically advanced nation. Aside from creating a high-tech infrastructure, they have also found ways to incorporate natural elements into their designs and are committed to an eco-friendly approach to the future. The population is highly literate, and the country ranks first in the Pacific region on the Global Talent Competitiveness Index. Singapore is also determined to create an AI-driven economy by 2030 as part of its Smart Nation journey.
There is only one Singapore; it is like no other nation. It has seized upon its advantages and has built an environment for business without becoming distracted by political issues. Singapore has benefitted from wise leadership and a unified goal of prosperity and a high standard of living. They have used the agility of being a small nation to great advantage, but they offer that advantage to others who want to come and do business. If you are considering doing business in Southeast Asia, Singapore should be your first consideration.