Singapore – Punching Above Its Weight – And Winning!
In The Economists Intelligence Unit’s recent report, “hot spots”, Singapore was ranked as the third most competitive city globally and the highest ranked city in Asia among 120 global markets, losing only to New York and London.
Singapore stretches for a minuscule 275 miles and this reinforces the findings that population density fosters competitiveness. The strong presence of global economic powerhouses such as Procter & Gamble and Rolls Royce in the city-state, along with innovative new start-ups and technological research, have produced a dynamic economic environment that continues to attract corporations seeking to enter the growing Asian markets. .
Singapore has one of the highest GDP per capita in the world with a dynamic economy and strong service and manufacturing sectors, these sectors provide strength and stability to the Singapore economy. According to the World Bank, the gross domestic product of Singapore is worth 223 billion dollars, in other words, 0.36% of the world economy, which is a significant contribution, considering the size of the land mentioned above. .
Singapore is ranked second as the city with the best investment potential for the past sixteen consecutive years and is considered a haven of stability and also ranks in the top 3 in the world for foreign trade and investment. Additionally, a 2010 World Bank report ranked Singapore as the world’s second-largest logistics hub, ahead of Sweden, the Netherlands, and Asian superheavyweights China, Japan, and Hong Kong.
All the evidence, coupled with a strong fiscal outlook, suggests that Singapore, along with most other Asian countries, will be next in line to take a stronghold in world markets in the near future.
Overall, Singapore is a modern metropolis and Asian business hub that is a model of efficiency and a city-state of endless possibilities for future investors.
Singapore is an ideal state to establish a company due to these exciting opportunities. company formation in Singapore it is relatively simple and 100% foreign participation is allowed. Investors have the possibility to establish and manage a company in Singapore without having to relocate there. Most Singapore companies are usually registered as private limited liability companies (commonly known as private limited companies), which means that shareholders are not liable for debt beyond what they have invested. Foreign companies wishing to establish a corporate presence in Singapore can choose to register in a number of ways. These include a subsidiary company, a branch or a representative office in Singapore. The most common approach is a subsidiary company.