The building blocks of a business-friendly atmosphere.
Singapore’s conducive business environment, efficient legal system, highly skilled workforce, developed shipping and logistics industries, political and economic stability, and pleasant living environment are pull factors for companies who choose Singapore as the nerve centre for their operations.
International institutions have consistently ranked Singapore as a first-class business environment, bolstering Singapore’s reputation as a key regional and global hub for companies to do business.
Singapore was ranked third in the world in the 2022 IMD World Competitiveness Scoreboard.
Singapore was ranked first in Asia and seventh globally in the World Bank’s Logistics Performance Index in 2018, with the best seaport in Asia. This is complemented by Singapore’s excellent processing and storage facilities.
Singapore was ranked first on World Economic Forum’s Enabling Trade Index 2016, where it leads in the pillars of border administration and transport services. It is the fourth consecutive year where Singapore had been placed first.
Singapore was ranked second in the Global Talent Competitiveness Index by INSEAD in 2022.
Singapore was ranked first in Asia and fifth globally in Transparency International’s anti-corruption index in 2022.
Conducive Business Environment
The ease and advantages of doing business in Singapore.
A conducive business environment is seen to be vital in Singapore’s open-economy model. The ease of either starting up or running a business, taxation, an independent legal system, access to local finance, capital importation and the repatriation of profits are all areas where Singapore enjoys a competitive advantage over other locations.
In addition to Singapore’s strong infrastructure and pro-business policies, Singapore has joined free trade agreements and signed bilateral shipping agreements as well as an extensive network of tax treaties to further enhance her attractiveness as a conducive business location
Singapore hosts more than 5,000 maritime establishments and businesses. The government is keenly aware of the importance of the maritime sector and endeavours to establish a pro-enterprise and conducive business atmosphere.
MPA recognises that shipping is a capital-intensive international business and that a conducive business environment is vital to the operation of shipping companies. We have in place a suite of programmes that facilitate the growth of maritime businesses operating from Singapore.
Access to Global Maritime Services
Singapore is home to a pool of professional and global maritime services that specialise in the maritime sector.
Singapore offers a deep and wide pool of maritime professional services, able to provide specialised support, expertise and advice on areas of businesses, such as:
- Bunkering services
- Marine insurance services
- Maritime legal & arbitration services
- Shipping finance
- The Singapore Registry of Ships
Access to Key Markets
Market access is the key to global trade.
Trade is the lifeblood of the world’s busiest container port. In addition to Singapore’s strong infrastructure and pro-business policies, Singapore has several free trade agreements and bilateral shipping agreements as well as an extensive network of more than 70 tax treaties to further enhance her attractiveness as a conducive business location.