This strategically located Lion City with its vibrant, dynamic city-state and with one of the highest standards of living in the world; Singapore is a key regional trading centre, the world’s busiest port, and a top location for investments in the Asia Pacific. Singapore’s free-enterprise spirit extends to her relations with foreign investors. The government has adopted an open-door policy and welcomes foreign investment as well as foreign expertise.
The country’s sound government policies have enabled Singapore to rank as Asia’s most stable country. The Singapore government encourages businesses to thrive by keeping red tape to a minimum. It also has a reputation for being responsive to changes and is willing to adapt quickly to new and unforeseen circumstances by altering its outlook and modifying its policies. The government encourages private sector initiative. Government agencies with regulatory functions have close rapport with the private sector; major policies affecting the business community are often adopted only after extensive consultation with major trade and business bodies.
A big part of its resounding success over the decades is its long trading tradition; the Republic has accumulated extensive experience and expertise in global markets and trading connections. Singapore is not only a convenient link between East and West, but also offers easy access to Asia Pacific’s dynamic market of 2.8 billion people within a 7-hour flight radius.
To further attract consistent foreign direct investments, strategic plans modeled with attractive tax incentives and development grants have lead to attracting some 7,000 multinational companies to use Singapore as a base for their global operations and as a springboard into India, China and the region. Taking advantage of Singapore’s open business environment, almost all commodities, and consumer and industrial items enter and leave the country free from duty charges. This in turn has led to the country’s external trade that is in fact 3 times that of her domestic GDP.
With its rich multicultural heritage, Singapore combines a truly cosmopolitan ambience with classic Asian hospitality. Clean and green surroundings, a low crime rate, affordable housing, and outstanding visitor attractions are just some of the factors that make working and living in Singapore a pleasure.
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