Why Singapore
A Globally Competitive Economy
Singapore topped both IMD’s World Competitiveness 2020 and World Economic Forum (WEF)’s Global Competitiveness rankings in 2019.
With Singapore’s digital friendly environment, high quality infrastructure, and efforts in adopting technologies, Singapore ranked first in the IMD Smart City Index (2019) and second globally in the IMD World Digital Competitiveness Ranking (2019).
In terms of innovation performance, Singapore ranked top in Asia in the Global Innovation Index (2019) as we were assessed to be one of the most innovative in terms of the quality of innovation input which include factors such as business environment and government efficiency.
Finally, Singapore was ranked the third most robust data centre market worldwide in Cushman & Wakefield’s Data Centre Competitiveness Index (2019). This is given its access to high speed connectivity, political stability, and low risk of natural disasters.
International Connectivity
Singapore is located at the heart of Southeast Asia and provides excellent global connectivity to serve the fast-growing markets of the Asia-Pacific region and beyond.
Singapore has over 20 Free Trade Agreements (FTAs) which provided access to the markets of the partner countries. We also have over 80 Avoidance of Double Taxation Agreements (DTAs) which are advantageous to financial institutions (FIs) using Singapore as its regional or global hub.
Singapore is also building linkages, including Bilateral Investment Treaties and FinTech Cooperation Agreements, with emerging economies including in the Middle East, Africa and South America.
FIs in Singapore trade around-the-clock with Asia-Pacific centres, as well as European and American centres. This makes Singapore a hub for 24-hour trading in foreign exchange and securities.
Business-Friendly Environment
Pro-Business Environment
Singapore has a pro-business environment, currently ranked 2nd in the World Bank Group’s Doing Business 2020 Report.
Singapore’s regulatory environment is highly conducive to the set-up and operations of a firm in Singapore. There is also stable and efficient infrastructure to support starting a business, financial intermediation and enforcement of contracts.
The International Monetary Fund (IMF) reaffirmed Singapore’s financial sector oversight to be “among the best globally” in the 2019 Financial Sector Assessment Programme (FSAP) for Singapore. It noted that MAS has struck a good balance in fostering financial innovation while strengthening regulatory oversight since its last FSAP review in 2013.
Singapore is a leading startup hub in Asia and the world. It has the expertise and network to be your launchpad to the region and beyond. With great global connectivity, and easy access to top quality talent, research organisations, as well as other supporting infrastructure and stakeholders, Singapore is the ideal place to grow your business.
Why Start Up in Singapore
If you’re thinking about scaling up quickly in the region, Singapore’s strategic geographical location is a gateway to the high-growth markets of Southeast Asia, China and India.
Join the likes of unicorns Grab, Lazada, Sea Group and Razer, and make Singapore your headquarters for the Asia Pacific region. As Southeast Asia and China move towards becoming tech and innovation economies, your startup can use us as a base to introduce innovative solutions to emerging markets undergoing disruption.