Pro- Business Environment

Singapore embodies all the attractive attributes a company can seek in a business partner: -

world-class infrastructure, flexibility, excellent education system, technology mindset, pro-business environment, manpower capabilities and an excellent springboard into the region.

Singapore's reputation as a successful financial centre is protected by stringent banking laws governing the management of banks and financial institutions. The country's success has been outstanding as a haven for offshore funds. One top attraction is the high degree of political and economic stability provided by the Republic which offers investors security and peace of mind.

Singapore has been consistently ranked as one of the best places for business in the world. Accolades for the last few years include:

• Best business environment in Asia Pacific for 2004 to 2008
  Economist Intelligence Unit Country Forecast, October 2003
  
  
• Top in Asia for Corporate Governance
  GovernanceMatrics International, Sept 2004
  
  
• Top in Quality & Integrity of Judicial System
  Political and Economic Risks Consultancy, 2004
  
  
• Most Attractive City for Expatriates to Live & Work
  Mercer Human Resource Consulting, March 2004
  
  
• Best Asian Seaport
  Asian Freight & Supply Chain Awards , 2004
  
  
• Third in Pro-Business World Rankings
  World Bank Group’s annual Report, Sept 2004
  
  
• Fifth Best Offshore Location Globally
  A.T. Kearney Offshore Location Attractiveness Index, 2004

Robust Infrastructure

Singapore is one of the best connected countries in the world, with all the sea, air and telecommunications links needed for business.

Changi International Airport is linked to 140 cities in 50 countries, with more than 3,250 weekly flights ferrying passengers and cargo to and from all parts of the world.

PSA Corporation, the busiest container port in the world, offers shippers a choice of 200 shipping lines with links to some 700 ports in 130 countries.

The highly efficient Mass Rapid Transit system provides the backbone for fast transportation within Singapore.

Currently, broadband network reaches 99 per cent of the population. International connectivity now stands at 21 Tbps and continues to expand. The World Economic Forum ranked Singapore among the top 10 in the world for network readiness in 2002.

There are sprawling industrial estates, compact business parks, and an island devoted to the chemicals industry. A research-intensive Biopolis is rapidly taking shape, while the Tuas Biomedical Park, offering manufacturing space for biomedical companies, is now in its second phase of development.

Efficient Financial Centre

Singapore has long been a key regional financial centre, with more than 500 local and foreign financial institutions offering a wide range of financial products and services.

Every possible form of financial activity performed or needed by a business is available here. Funding and liquidity needs are easily met by the local equity and debt capital markets, and the Asian dollar market.

Singapore is the fourth largest foreign exchange trading centre in the world, and a growing Asia-Pacific center for wealth management.

Many global companies have their regional treasury headquarters here to take advantage of the depth and liquidity of the financial markets here. Many of Asia's top companies have listed on the Singapore Exchange (SGX), which is Asia-Pacific's first de-mutualised and integrated securities and derivatives exchange.

The venture capital industry is well developed, with some 150 fund management companies managing nearly S$16 billion worth of venture capital funds by the middle of 2003.

Tax Environment – “best for business” In the latest Singapore 2005 Budget, the Finance Minister released a comprehensive package of measures to create a "best for business" environment that supports foreign talent and investments to Singapore. Singapore-incorporated companies and Singapore branches of foreign corporations will be taxed at a lower 20% from year of assessment 2005, from the prevailing corporate tax rate of 22%. A comparison of corporate tax rates for year of assessment 2005 shows Singapore corporate income tax rate to rank among the lowest in the Asia Pacific region.