Gateway To Asia
There are many superlatives attributed to Singapore and the city-state has been consistently ranked high for a number of reasons in reports from all over the world.
Situated at the crossroads of international trade routes, Singapore is a top location for foreign investors, be they multinationals, part of Europe’s dynamic middle-market or technology start-ups. The on-going liberalisation of markets and industries and the privatisation of government-linked companies (‘GLCs’) offer excellent opportunities to invest in Singapore and the neighbouring markets. Integration of the 10 ASEAN countries under a free trade area (AFTA) with a population of more than 500 million people is on track. Free Trade Agreements with the US, Australia, Japan and many other countries provide easier access to the global market
From Singapore you can access a market size of 2.8 billion people within 7 hours flight time. It its located within the Association of Southeast Asian Nations (ASEAN) representing a combined market of more than 500 million people. Singapore's seaport offers transport to more than 600 ports in 123 cities. Changi Airport won the Best Airport Award four times in a row and links to 140 cities in 50 countries.
The Government Investment Corp & Temasek jointly hold a total of $323 bn assets under management.
Singapore is the host of the most anticipated event on the F1 calendar. Attracting thousands to the island nation, Singapore will be showcased to billions around the world during this event each year.
Leading Asian Financial Hub
Singapore plans to double the size of its financial district as part of a wider strategy to become Asia's leading financial centres. The new growth area will be more than twice the size of London's Canary Wharf and provide 2.8 milion sqm of office space, or the equivalent of Hong Kong's main central district.
Clean Energy Hub
Singapore's aim is to be a global hub where clean energy solutions are developed, tested, and exported overseas. Since 2007, the city-state had provided an initial funding support of S$350 million from the government. By 2015, the clean energy industry is expected to contribute S$1.7 billion to Singapore's gross domestic product and employ around 7,000 people. To date, the city-state has attracted leading industry players such as Renewable Energy Corporation,Vestas Wind Systems and Det Norske Vertias.
The establishment of our first 2 integrated resorts have enhance Singapore's position as a leading world class destination for Meetings, Incentives, Conventions and Exhibitions.
Singapore is set to become a leading medical hub and expects to receive about 1 million international healthcare visitors, with an estimated $4 billion in medical tourism receipts by 2012.
Leveraging on an existing well-developed public education system, Singapore's government is pouring millions of dollars into creating an education hub in Asia. Already, World Class Institutions such as University of Chicago, France's INSEAD, John Hopkins, MIT, Stanford University and Technische Universiteit Eindhoven of the Netherlands. This drive is expected to create 22,000 new jobs from both local and foreign institutions over the next 10 years
Already accounting for 22% of Asia Pacific's aerospace maintenance output and 4% of GDP, the industry is set to grow further, with the development of the $60m Seletar Aerospace Park to be completed in 2018. Apart from attracting more aerospace manufacturing projects, Singapore is developing both its Research and Development (R&D) and training and education capabilities. EADS, Pratt & Whitney, and GE have found Singapore to be an attractive location for R&D activities because of the ready availability of talent, a strong intellectual property regime, a cost competitivebusiness environment, and a vibrant research framework. Rolls Royce has also recently announced its plans to set up its Apprentice Academy in Singapore.
Bio Medical Hub
Singapore’s commitment to research and innovation has drawn leading global scientists and clinician-scientists here. Today, Singapore is a leading site in Asia that draws global and regional talent to collaborate and exchange new ideas. Singapore is developing some major campuses to facilitate progress of its BioMedical Science industry. It has invested roughly $44m (€31m) and $53m, respectively, into building Tuas Biomedical Parks (TBP) 1 and 2. Singapore has also invested in a project known as Biopolis, which will house top-notch research institutes, private-research organisations and renowned biomedical universities. Biopolis is part of an overall plan to build a much larger 200ha development known as One-North.
Space Adventures has proposed a US$115 million spaceport to be located in Singapore, near Singapore Changi Airport. If built, this spaceport will service the Space Adventures Explorer suborbital tourist rocketplane and provide astronaut training facilities and a public education and interactive visitor centre.
First rate transport system and roads make it an extremely attractive proposition to both business and those looking to relocate.
Energy and infrastructure
Singapore is the pricing centre and leading oil trading hub in Asia. The oil industry makes up 5 per cent of Singapore's GDP, with Singapore being one of the top three export refining centres in the world. In 2007 it exported 68.1 million tonnes of oil. The oil industry has led to the promotion of the chemical industry as well as oil and gas equipment manufacturing. Singapore has 70 per cent of the world market for both jack-up rigs and for the conversion of Floating Production Storage Offloading units. It has 20 per cent of the world market for ship repair, and in 2008 the marine and offshore industry employed almost 70,000 workers.
Population growth to 6.5 million by 2050.
This will require growth of an average of 43,000 new citizens, prs annually, which will generate a steady demand for housing in the land scarce state.
Estate Duty Free
The removal of Estate Duty will encourage Wealthy High Net Worth Individuals to bring their assets in Singapore, thus supporting the growth of our wealth management industry.
Here are 50 more Reasons from CNN GO on why Singapore is No. 1 in the World
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