If you’ve been keeping up with the times, you’ll have no doubt that Asia is dominating the globe. The up and coming collective economies of China, India, and some South-east Asian countries have ensured that a wave of businesses is shifting over to this region. This allows them to capitalise on the significant domestic markets, affordable talent and labour, and advanced and impressive infrastructure.
Singapore is uniquely tailored to business needs with its lowered corporate tax rates, remarkable security, high standard of living, emphasis on efficiency, and strict enforcement of intellectual property laws. If you’re looking to expand into the region, or start a small business, there’s no better place to start than Singapore. This article details the reasons why and the benefits you are poised to reap from doing so.
1. Strategic positioning
Singapore houses some of the biggest companies in every which industry. Some of the reasons can be attributed to its central positioning in South-east Asia and its relative nearness to economic giants like China and India. Singapore’s Changi International Airport connects over 300 cities through the 80 international airlines it carries.
With many leading logistics firms like UPS and FedEx being housed in Singapore, it is no surprise that the city-state has been rated the highest in Asia for its logistics performance.
Similarly, the country’s seaport infrastructure has also been known to be the best in Asia for at least the last 20 years. The seaports are notoriously busy, with over 200 lines connecting to over 120 countries through 600 ports.
2. Safety and security
The Singaporean political climate is undoubtedly the most established and steady in South-east Asia. The city’s safety allows business people and investors peace of mind as they focus on what matters.
Singapore has a thriving gastronomical scene, unparalleled education, and reliable healthcare, making it a wonderful place to settle down with your family. Moreover, being known for its neutrality in the face of many cross-Asian disputes, it can be relied on to facilitate negotiations and the like in the event of any political unrest.
It may also interest you to note that Singapore was ranked as having the tightest intellectual property protection in the continent. The city was also recognised for its stable political environment, conflict-free policies, and being the least corrupt place in Asia.
3. Skilled labour force
A company is only as strong as the people working for it. Luckily, Singapore is the highest-ranking country in terms of worker efficiency and attitude toward work. The reasons for this range from successful company policies to a favourable work ambience to a high-quality standard of living.
This attractive, skilled labour force is accessible to companies because of Singapore’s focus on education, a multitude of training programmes, and inviting immigration policies.
There is also a tangible emphasis on communication and solidarity in many organisations, especially between employers and employees; this makes for a more transparent and conducive work environment.
The combination of several factors has led to where Singapore is today. The country is distinctively positioned in the grand scheme of things to play a vital role as Asia’s business hub. At Express Corporate Services, we understand this and will be able to help you use this fact to your business’ advantage. So, if you’re interested in setting up your company here, contact us at Express Corporate Ltd for an immigration consultant in Singapore, and we’ll be happy to help!