Singapore, an island city-state in southern Malaysia, is a global financial center with a tropical climate and a diversified population. Singapore is famous for the government’s full-fledge support in promoting business activities, domestically and internationally. This subsequently leads to its being one of the world’s most prosperous nations.
Singapore’s freedom score stands at an impressive 89.4 points, making it the 2nd freest country within Asia – Pacific region. Singapore is indeed the safe haven and the ideal environment for any businesses. It owes such positive status to a corruption-free environment, wise monetary and fiscal policies. Additionally, Singaporean government also pairs every business activity with an absolutely transparent legal framework that focuses on economic diversification.
Singapore’s largest industry to date is the manufacturing sector, which accounts for 20%-25% of the country’s annual GDP. Financial service industry remains the second most robust, making Singapore home to over 200 banks and a regional hub of choice for many global financial services firms. Other emerging industries include medical care, aerospace engineering, and clean energy, etc.