At the time of writing of this article, Singapore is the 2nd best nation and the top Asian nation, in terms of ‘ease of doing business’, globally.

If you do a quick search in Google of the titled question, you will find numerous articles on the subject. In fact, here’s a quick tip – always remember to sort the articles by ‘time’ to ensure you always get the latest and greatest iterations on this topic.

There is a reason (in fact, numerous reasons), why Singapore is such a great place to do business. There are some key factors that we love and would like to highlight. So without further ado, let us move onward and contribute to the ‘community’ of articles that explain why Singapore is the best place in Asia to do business!

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Pro-Business Economy and Government Policies

As a free market economy, Singapore and its various government bodies have in place a variety of policies and tools that assist businesses to start and/or grow. Some of these include tax exemptions for new companies, safe spaces for companies to experiment and/or innovate, and numerous grants to help businesses get up and off the ground.

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Top Marks in Rule of Law and Corruption Perception Studies

Singapore did very well in two 2017-2018 studies on the rule of law and the perception of corruption across countries worldwide. The republic ranked 13th globally for the rule of law, and was the top Asian nation in the 2017 – 2018 Rule of Law Index compiled by the World Justice Project. It was also the only Asian nation in the top 10 least corrupt nations study conducted by Transparency International, coming in 6th out of 180 nations studied.

These examples testify to the business-positive environment in Singapore. It offers both opportunity and protection to businesses. Moreover, it creates an environment where business owners can work, live, and build a life.

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Singapore’s Secret To Regional And International Connectivity

There is no question that Singapore is a regional hub that connects everyone easily to the rest of Southeast Asia and the greater Asia-Pacific nations. Cities like Kuala Lumpur, Bangkok, Jakarta, Hong Kong, etc. are all less than six hours away via plane.

However, a lesser-known aspect of Singapore is the intense incoming traffic generated by its Meetings, Incentives, Conventions, and Exhibitions (MICE) efforts. The city-state has enjoyed a good global reputation of being the go-to place to hold MICE events and has won top accolades over the years. On top of travelling out of Singapore to meet potential prospects, business owners should take advantage of the business prospects that have been brought to them via the intense MICE initiatives courtesy of the Singapore Tourism Board.