Singapore’s Advantages over other Business Friendly Destinations in Asia
There are quite a few business friendly destinations now in Asia which have a high growth rate and also offer business friendly laws to attract foreign direct investment. However, out of all the countries in the region, Singapore has been consistently one of the most favored nations by foreign entrepreneurs and investors from all over the world prefer setting up some sort of a presence in the country. This is primarily because apart from being the friendliest nation on earth for business and ranked number one in ease of doing business, Singapore has some other advantages as well which are missing in other nations. Some of these advantages are as follows:
1) English Speaking Nation: Although Singapore is primarily made up of Chinese, Malay and Tamil Indians; English is widely spoken in the country as the first language. Almost all of Singapore is fluent in English and foreign entrepreneurs especially from the west do not have to learn new languages to cater to the Singaporean market. At the same time, because the work force in Singapore is well educated and fluent in English, international trade becomes extremely simple from the country unlike most other Asian nations.
2) Multicultural Society: With the growth of the Singapore economy and influx of hundreds of thousands of foreign owned companies in the country, there was mass immigration as well and today more than one third of the entire working population of Singapore is made up of foreign nationals. Today Singapore has a vibrant multicultural society with respect for one another. Singapore is one of the most peaceful nations in the world due to which several investors find the country a risk free destination.
3) Stability: Speaking of being risk free, for an investor stability is the most important factor as a location which is highly volatile may put undue risk on the investments made in that destination. From political stability to its society and economic policies, Singapore is one of the most stable nations in the world something which no other Asian nation can even come close to.
4) Law and Order: One of the aspects which really affect many Asian countries even those who have high growth potential is the situation of law and order. Many countries are often plagued with a lot of crime including intellectual theft. Singapore has one of the best law and order situations in Asia with strict rules and intellectual property rights laws. Doing business in Singapore is not just considered as easy but also as safe.
Author Bio
Bryan Wong is a business analyst in the Asia-Pacific region and in his free time writes business articles. In this article, Bryan talks about Singapore company formation services and Register Singapore company.
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