Reasons Why Singapore is Asia’s Most Business Friendly Country

Singapore is ranked the tenth hottest start-up ecosystems in the world as per a report from the research firm Compass. The state-city is consistently ranked No. 1 for the ease of doing business, by the World Bank. An affirmation of this being, hundreds of multinational companies including Uber, Toyota, Facebook and Google are headquartered in this city.

If you’re looking to expand your business or start operations in the Asia Pacific, here are the 6 reasons why Singapore wins the crown of the leading business-friendly South East Asian hotspot.

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As a vehicle for investment purposes, companies from all over are keen to set up a Singapore holding company for their Asia Pacific business investments. Companies from India are especially keen to do so because of the strong bilateral ties which both Singapore and India share. The relationship was strengthened even further when the Singapore Free Trade Agreement (India – Singapore Comprehensive’ Economic Cooperation Agreement – CECA) was signed in 2005, which not only helped to enhance the trading volumes between both these countries, but it also helped Singapore boost its traction as a major investment destination.

Other things to check out:

Singapore is ranked the best place in the world for expats, and after visiting I can understand why

Prior to visiting the island city-state, my notion of Singapore was similar to the one portrayed in summer blockbuster “Crazy Rich Asians.” That is to say I thought of it as a breathtakingly wealthy place where rich people cavort about in exotic supercars and dress themselves in mansion-size closets stuffed with Balenciaga, Chanel, and Gucci.

That image is not conducive to expat living. As someone who has frequently toyed with the idea of living abroad for years at a time, I’ve done a fair amount of thinking about what makes a city or country a good place to expat. Ideally, you want a place with a strong economy with lots of opportunity, a low-priced but high quality cost of living, a friendly populace open to outsiders, minimal language barrier, vibrant culture and nightlife, and a safe, healthy environment.

Innovation in the business ecosystem

Changes by man to survive and improve himself and his environment are recorded in history as Civilization. In the 4.54 ‘ 0.05 billion years of the earth’s estimated existence, spontaneous changes in nature and intervening changes by the biblical ‘all creatures big and small’ developed interdependencies that bonded groups and communities with similar ways and common concerns. In their ‘ecosystems’ or close environment, all co-evolve in competition and collaboration on available resources, and the joint adaptation to external disruptions.

James Moore in his Harvard Business Review article ‘Predators and Prey: A New Ecology of Competition’ (Publication May 1, 1993) compares companies operating in the increasingly interconnected world of commerce to a community of organisms adapting and evolving to survive, calling this a ‘business ecosystem’ with its operators and publics. Moore, who was a Senior Fellow at Harvard Law School’s Berkman Center for Internet & Society, talks about the awesome changes that the new technologies have wrought on the business ecosystem.

Crazy Rich Indians: An Inside Look at the Burgeoning Bollygarchs

India is not only the world’s largest democracy; its economy has been expanding faster than China’s. This has given rise to a new billionaire class in India. The country’s top 1% own nearly 60% of the wealth. Meanwhile, about 65 million of India’s 1.3 billion citizens live in slums. James Crabtree examines this disparity in his new book, The Billionaire Raj: A Journey Through India’s New Gilded Age. Crabtree, an associate professor of practice at the National University of Singapore and former Mumbai bureau chief for The Financial Times, joined the [email protected] radio show on Sirius XM to discuss India’s shifting socioeconomics. (Listen to the podcast using the player above).

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