Why Singapore?
At the heart of Singapore's thriving business
ecosystem is a unique blend of competitive strengths that makes
Singapore the location of choice for global enterprises. This
distinctive combination of CORE competencies, coupled with
Singapore's physical and metaphorical location between Western
sophistication and Eastern growth potential, confers a host of
benefits to the businesses that invest and reside here. A
cosmopolitan society, Singapore is an ideal platform for the meeting
of global talents, ideas, funds and businesses.
Connectivity
Singapore's extensive network of Free Trade
Agreements, Avoidance of Double Taxation Agreements and Investment
Guarantee Agreements, as well as its comprehensive air, sea and IT
infrastructures, provides for the seamless flow of goods and
services to markets around the world.
Openness
Singapore's willing acceptance of
globalisation, and its corresponding foreign cultural and economic
infusion, has a circuitous effect on the national ethos through the
engendering of cosmopolitanism, which in turn stimulates openness.
With a foreigner-local ratio of 1:4 and university enrolment of
foreign students at 20% of yearly intake, Singapore has demonstrated
its favourable reception of differing cultures, thus explaining its
ranking as the best place to live in Asia (ECA International 2005).
Reliability
Singapore's safe, pro-business environment is
supported by a well-respected government with transparent and
consistent policies that protect companies' physical and IP
investments.
Enterprise
Home to a concentration of international
enterprises, headquarters operations and startups, Singapore has a
vibrant enterprise ecosystem that fuels interaction and growth.
Singapore Advantage
Singapore offers a top-ranking,
globally-connected, pro-business environment with a strong and
stable infrastructure to boost and sustain exceptional growth and
success in a myriad of industries. In addition, our diverse and
comprehensive suite of world class solutions, resources,
competencies and talent help businesses thrive and triumph in
today's competitive market.
Integrated Value-Chain of Activities
Singapore's vibrant economic ecosystem forges
synergies across your business' value chain of complementary
activities - from Manufacturing, R&D and Innovation, and Supply
Chain Management, to Shared Services and Intellectual Property
Management - resulting in an enhanced and fully integrated
enterprise.
Manufacturing
Manufacturing accounts for a quarter of
Singapore's economy and its contribution to Singapore's GDP has been
growing. Singapore is an exceedingly viable base for manufacturing
activities, holding global leadership positions in various areas of
manufacturing. Singapore is moving towards a more knowledge and
research-based economy while still continually building on the
growth potential of her existing manufacturing base. World class
research institutes and higher education, coupled with our CORE
competencies, can add value to companies' investments here.
R&D and Innovation
To be at the forefront of any industry,
businesses need constant revitalisation of knowledge and expertise.
Singapore recognises the critical roles innovation and R&D play in
this technologically sophisticated and ever-globalising commercial
environment, and has, hence, created and maintained a robust
enterprise ecosystem with a rich diversity of players, industries,
and expertise to enhance the value of businesses here. By ensuring
the availability of facilities, partners, funds, and the most
stringent IP regime in Asia, Singapore offers a strong
infrastructure for successful innovation and collaboration for both
the public and private sectors.
R&D commitments have been on the rise in the
past few years, prompting Singapore to target R&D spending of 3% of
GDP for additional innovation-boosting activities, instead of the
current 2%.
Singapore's current economy has been built up
on efficiency and cost effectiveness. However, Singapore is now
ready to move above and beyond mere efficiency, to exploit R&D,
which has a thoroughly vital role to play in today's knowledge-based
economy.
The Singapore Government's commitment to the
R&D cause is evident in the formation of two new committees that
will look into the establishment of an environment conducive to R&D.
During his National Day Rally speech in August 2005, Singapore's
Prime Minister Lee Hsien Loong announced the setting up of a
Research, Innovation and Enterprise Council (RIEC), an advisory
council to the government which will include talents from the
private sector, the scientific community and academia, as well as
key ministers. This council will be headed by the Prime Minister
himself. In addition, a National Research Foundation (NRF), chaired
by Singapore's former Deputy Prime Minister, Dr Tony Tan, will look
into funding long-term research in strategic areas.
Supply Chain Management
A combination of state-of-the-art information
technology, financial expertise, and a professional talent pool
makes Singapore the optimal place to site a supply chain nerve
centre and logistics hub. Several MNCs, including IBM and Volvo,
have capitalised on the smooth flow of information, goods, and funds
in Singapore for their global supply chain needs.
The unique blend of strengths that makes
Singapore a key global supply chain and logistics hub stems from a
sturdy infrastructure comprising the world's busiest container
transhipment port, one of the busiest and best-connected airports in
Asia, skilled manpower and specialised infrastructure. Coupled with
a choice location at the crossroads of major trading and logistics
routes, Singapore's extensive FTA network and cargo security
initiatives with key economic partners ensures greater market access
and secure transactions for companies sited here.
Trust in Singapore's vibrant logistics
ecosystem has brought more than 3000 logistics providers to our
shores. More than half of the world's top 25 third-party logistics
providers have set up substantial operations here. With their
business competencies spanning regional distribution, vendor-managed
inventory, business continuity, data hosting, trade financing and
process optimisation, these companies offer high value-added,
knowledge-intensive, integrated logistics services to global
businesses from our very shores.
International Headquarters
Voted the best business environment in Asia
Pacific, and the best place to live and work in Asia (EIU 2005),
Singapore leverages on its core competencies to provide the most
conducive environment for companies to site their business
management control towers. More than 60% of the 7,000 MNCs have
benefited from Singapore's highly-skilled workforce, favourable tax
regime and test bedding opportunities, among other valuable
resources and set up their headquarters here to manage their
regional, and often global, operations.
With 4,500 international players and boutique
firms offering professional management services, companies located
in Singapore enjoy a wide range of expertise at their fingertips,
including audit, accounting and management consulting; market
development services of market research, advertising and public
relations; human capital services; and legal services. In harmonious
combination with the regional offices of more than 30 international
organisations and non-governmental organisations (NGOs), these
management service companies provide first-rate expertise to
businesses around the world.
Shared Services
Singapore is emerging as a firm favourite for
the centralisation of services - a global trend which has its
foundations in lower operating costs, consistent service levels and
enhanced productivity.
Singapore targets four categories of shared
services activities: IT, finance, logistics and general functions
including administration, human resources and manufacturing
services. These activities leverage on the country's existing
strengths in infocommunications technology, finance and logistics.
Singapore's value propositions have attracted
more than 7,000 MNCs, many of which have established regional or
international headquarters here. As their operations grow, they have
found that it makes increasing sense to consolidate certain
corporate horizontal functions in one location.
Intellectual Property Management
Voted the most IP-protective country in Asia
by the Political and Economic Research Consultancy for the last two
years, Singapore is well-poised to aid companies in protecting,
managing and commercialising their assets in Asia, especially as the
region increases global manufacturing reach. Singapore's reputation
as a secure and vigilant IP hub has been greatly augmented by the
initiation of various pro-business policies and support schemes to
promote IP activities.
Some of the key IP initiatives that have been
undertaken here by various organisations include the following:
- The World Intellectual Property Office (WIPO)
established its first Asian regional office in June 2005 in
Singapore.
- Honeywell and Hewlett Packard set up
their Asian IP licensing and acquisition centres in Singapore
- Asiaworks Photography, the world's
leading archive of Asian digital images, manages and licences
its digital images and photographs from its headquarters in
Singapore
- DLM Digital Studios (India), an Indian
film production house, owns, licenses and manages its film
rights for the international market in Singapore
Source: Economic Development Board (EDB),
SIngapore | 
