The Developing Nation of Singapore

May 08

The fact that Singapore is one of the easiest places to start and do business in the world is being proclaimed by none other than the World Bank, the eagerness of entrepreneurs in different parts of the world to comer over and set up their businesses here can be easily understood.If a country boasts of being the 4th largest currency exchange centre, one can understand the large scale of business and financial transactions taking place in this country. If every 6th household in the country is a millionaire, one can gauge the lifestyle and the spending power of the people of Singapore. But the secret of its success as a trade and business hub lies in its extreme competitiveness.Add to it the fact that Singapore consistently ranks at the top of the list of least corrupt countries and you know why businessmen make a beeline to be doing business in this country.
Some of the most critical facts explaining the success of Singapore as a leading financial centre happen to be the ability of the government to sort out free trade agreements with major countries of the world and its taxation policies that avoid making businessmen pay double taxation.

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