Singapore
Singapore has long been recognised as one of the best cities for business and a financial centre of international repute serving not only its domestic economy, but also the wider Asia-Pacific region. Strategically located in a region of opportunities, the country's geographical location is a major contributor to its steady financial growth.
Situated at the crossroads of international shipping and air routes and connected to more than 600 ports in over 120 countries, Singapore has one of the busiest seaports in the world (in terms of shipping tonnage, with some 140,000 vessel calls annually) and is used for both import and export activities. Singapore is also one of the top bunkering ports in the world, lifting about 30 million tonnes of bunkers annually. More than just a container transhipment hub, Singapore is also the world's third largest petrochemical refiner and currently holds approximately 70% of the world's jack-up rig-building market and over 65% of the global floating production storage and offloading conversion market. Singapore's maritime eco system contributes approximately 7% to the Republic's gross domestic product and is fast becoming Asia's hub for maritime law and arbitration and is a global player in the offshore and marine engineering industry.
Singapore's free-market economy and stability, together with modern infrastructure, business transparency and favourable tax conditions, make it attractive to both investors as well as international companies wanting to set up a regional base in Asia. With one of the more well-established capital markets in Asia-Pacific, the Singapore Exchange is the preferred listing location for more than 200 global companies and is one of the top five most active foreign exchange trading centres in the world.
Singapore has long been recognised as one of the best cities for business as investors have come to appreciate the Republic's stable political structure, well established judicial system and good corporate governance. With a robust and efficient legal and judicial framework and a wll regulated international finance sector, Singapore is the only Asian country with an "AAA" rating. Further, the Republic also offers financial institutions a competitive tax rate environment with one of the lowest corporate tax rates in Asi-Pacific and a comprehensive network of Double Tax Agreements with more than 60 countries. |
