Reasons to Choose Singapore as an Entry Point
Essay by fonddd17 • December 5, 2018 • Presentation or Speech • 511 Words (3 Pages) • 665 Views
Reasons to choose Singapore as an entry point
The Singapore economy is primarily supported by activities in the manufacturing and services sectors, which account for a fifth and two-thirds of its output¬¬¬ respectively. Singapore’s natural connectivity to emerging markets in the region, positive labour-employer relations, favourable tax regime, and strong rule of law have all contributed to the country’s competitive advantage, thereby enabling the Singapore economy to grow consistently and rapidly over the past four decades
Market Value: 2,7 billion sgd
Total 39 outlets
1 Pro-business environment
Though ranked 4th in the world for the ease of doing business 6 years ago, the U.S. has slipped to the 8th position in 2017 (World Bank Doing Business Report). By contrast, Singapore ranked 2nd in the world for its pro-business environment, which allows the efficient and transparent functioning of businesses.:
Ease of doing business rank:
Singapore: 2
Malaysia: 24
Thailand: 26
Brunei: 56
Vietnam: 68
Indonesia: 72
Philippines: 113
Cambodia: 135
Lao PDR: 141
Myanmar: 171
2 Legal System
Singapore’s legal system is based on the English Common Law. In 1969, trial by jury was abolished as entrusting matters of life and death to 7 laymen was deemed undesirable. Today, Singapore is ranked 9th globally for its rule of law, and is the only Asian state in the top 10 (World Justice Project Rule of Law Index 2016). The U.S., on the other hand, is ranked 18th.
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3 Tax System
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4: Location
Singapore is home to the world’s top players across all industries, in part, due to its location in the heart of Southeast Asia and close proximity to surrounding emerging markets. By means of Singapore you can reach out to the other countries in Asia effectively. Air travel is also frequent with daily inbound and outbound flights thus making business operations easier and more convenient. Singapore preserves good international connection with other countries when it comes to trade and industry
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5 year plan
We considered to start entering high GDP countries where as it seems that they have more spending power starting with Singapore
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