Singapore Is a Small Asian State That Essay

Excerpt from Essay :

Singapore is a small Asian state that has made tremendous progress in the last decades in economic and financial terms and is one of the most attractive countries to invest in. The government has strongly promoted an administrative model with reduced governmental involvement, liberalizing sectors and encouraging foreign investments. As a consequence, the country scores highly in all or most of the reports that analyze the ease of doing business.

Singapore is also becoming an important regional hub. As a consequence, starting an enterprise in this country can also be made considering the potential impact in the medium and long-term in the development of the company in other Asian markets. The Asian region is estimated to continue its economic growth in the next period of time, so it would be important to establish a presence there as soon as possible and with long-term implications. Singapore would be a good location to initiate this process.

The primary element that is presented in this memo is the ease of doing business indicator, as the best instrument that reflects the capacity of the authorities of Singapore to establish an economic and investing climate that encourages entrepreneurship and, as such, favors our own company.

The International Financial Corporation (IFC) elaborates an annual ease of doing business index, ranking economies from 1 to 185 (Ease of Doing Business Report, 2012). The report covers ten topics that are important in doing business, including starting a business, registering property, protecting investors and paying taxes.

Singapore has consistently scored high not only in the overall score (number 1 in both 2011 and 2012), but also in each of the ten topics that are taken into consideration for the index. Thus, it scored number 1 in one category (trading across borders) and number 2 in three other categories (dealing with construction permits, protecting investors, resolving insolvency). Several of the topics that would be of particular interest for a new business venture, like starting a business, protecting investors, paying taxes and getting credit, have obtained a high ranking.

The country is also one of the least corrupt in the world, according to the Corruption Perception Index, something essential for the success of a new business in a country. It ranks number two, after Hong Kong, in an Index of Economic Freedom. All…

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