WEF Names Singapore the Most Competitive Economy in Asia

September 08, 2012

Singapore has retained its foothold as the most competitive city in Asia according to the Global Competitiveness Report 2012-2013 released this week by the World Economic Forum (WEF). The republic maintains its number two position globally after Switzerland, which has topped the report’s list for four consecutive years.

The report analyzed the competitiveness of 144 countries based on 113 indicators as well as a poll of 15,000 business executives. Singapore company setup consultancy Asiabiz Services recognizes the republic’s ranking as as a reflection of its consistent efforts to improve its capabilities as Asia’s business epicenter. Incidentally, rating agency Standard & Poor’s has recently reaffirmed the city-state’s triple A (AAA) long-term sovereign credit rating.

Explaining further, Mr. James Nuben, Head of Tax Division, Asiabiz Services said, “We are confident that the report will compel more investors to relocate to and invest in Singapore. Singapore’s consistently business-friendly policies, sophisticated infrastructure, attractive tax framework and deep pool of high quality workers offset the areas of concern such as lack of creativity and innovation. Singapore is still a nascent country that has developed rapidly under 50 years of democracy and we will hit these goals in the coming years.”

Other countries that have made it to the top ten list are comprised mostly of developed economies. Finland, Sweden and Netherlands (5th) complete the top 5 list, displacing United States to the 7th position. EU powerhouse Germany retains its 6th position year-on-year while Hong Kong debuts at the top ten list at number nine, pushing Japan a rung down to the 10th position.

Singapore facilitates foreign and local entrepreneurs in forming a Singapore company through a combination of attractive programs such as the PIC scheme and a multitude of funding and incubation programs for startups as well as a pragmatic approach to immigration.

“Singapore offers many creature comforts which make it one of the best places to live, work and play in Asia. Asiabiz Services is a Singapore-based consultancy that offers business solutions for both local and foreign professionals, investors and entrepreneurs. Our areas of expertise include Singapore company registration, incorporation, offshore company setup, accounting, taxation and other related corporate services. Asiabiz Services also provides Singapore work visa and immigration services for foreign professionals wishing to relocate to Singapore.

120 Telok Ayer Street, Singapore 068589
Phone: +65 6303 4614
http://www.asiabizservices.com

For the original version on PRWeb visit: http://www.prweb.com/releases/prwebWEF/Singapore/prweb9879280.htm