COMPANY INCORPORATION

WHY START A BUSINESS IN SINGAPORE

According to the latest edition of the Institute for Management Development (IMD) Word Competitiveness Ranking, Singapore is the world’s most competitive economy. After Singapore, the top four countries were Denmark, Switzerland, the Netherlands and Hong Kong. As a group, they illustrate the strength of many small economies amid the disruption caused by the coronavirus pandemic.

IMD attributed the factors behind Singapore’s success to its robust international trade and investment measures as well as its flexible labour market.

In addition, the relative ease of setting up a business in Singapore, the availability of skilled labour and good infrastructure propelled it to the top spot.

Technology giants such as Amazon, Google and Facebook have long set up their regional hubs in Singapore. In 2020, the world saw most economies devastated by the global pandemic. However, companies such as Twitter, Tencent, Zoom, Snap, Shoppe and Rakuten Mobile have expanded their presence here. According to the Economic Development Board (EDB) of Singapore, the republic is home to 80 of the world’s top 100 tech companies.

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