The Global Enabling Trade Report 2010, released by the World Economic Forum on May 19, 2010 ranks Singapore as #1 in its Global Enabling Trade Index, signifying Singapore’s openness to trade.
The 2010 World Competitiveness Yearbook by Switzerland’s IMD business school has come out with historic results with Singapore ranked as the World’s Most Competitive Economy for the first time in over a decade, followed by Hong Kong and the US.
Taking cognizance of the direct correlation between business relocation and availability of a talent pool, Singapore has taken definitive measures to transform itself into a global talent hub.
Singapore’s high growth forecast for 2010 appears to have prompted a flurry of entrepreneurial activities as the number of new incorporations surged in the first quarter of the year.
Singapore is the best location for petrochemical businesses to capitalize on the regional growth potential. Industry specific opportunities available in Singapore and the proximity to regional markets are the major factors that drive the players to incorporate in Singapore.
Tourism accounts for one of Singapore’s largest service sectors and is fast emerging as a lucrative industry.