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| Singapore Travel » Singapore Industry » Business Opportunities |
Business Opportunities |
The champion of free trade in Asia, Singapore is an investment hub in the east. Many international business consortia have appraised Singapore for its budding business nursery status. Post-globalization era, the business world has identified this country as a potential business destination of the world.
Why do business in Singapore?
- Singapore poses as a lucrative business destination due to many advantages, including geographical location of the country, well developed infrastructure, availability of both international and domestic transportation, a natural seaport that has stood as world’s one of the largest for several decades and many others which have contributed towards the commercial importance of Singapore.
- The world Bank in its report "Doing Business 2007" rates Singapore as the best country where it is easy to conduct various businesses and trade.
- Singapore also features on the 1st place according to KPMG Competitive Alternatives Study, 2006 for being “World’s most cost-competitive place for doing business.”Thus Singapore is a major business hub both in Asia and the world.
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How to explore Singapore?
- Singapore offers 'visas for entrepreneurs' who want to explore the possibilities of setting up businesses in the country.
- 'Visas for entrepreneurs' in Singapore provides the international entrepreneurs with manifold advantages for setting up businesses in Singapore.
- The 'multiple journey visas for entrepreneurs' in Singapore allow the entrepreneurs to make frequent trips to Singapore.
- GIP or the Global Investor Programme makes it easy for the entrepreneurs, business-executives and international investors to establish and carry out business in Singapore.
- Singapore Economic development Board opens up new avenues for business-partnership in Singapore by facilitating the link-up between international entrepreneurs or foreign investors and the local business communities.
- Entre pass is issued to the entrepreneurs who want to start-up a business in Singapore, making it easy for them to enter and reside in Singapore.
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Attractive business opportunities in Singapore
- Travel and Tourism
Travel and tourism is one of the most lucrative business options an expatriate business aspirant can set up. Singapore being one of the most preferred tourism destinations, a large number of quality services needs to be set up. There is ever increasing demand for all services relating to travel industry.
- Food & Beverages
Singapore has a diverse ethnic culture so as the variety of cuisines the country always need. Food and beverage business from most parts of the world are thriving business here. There are even markets for Chinese food, Indian restaurants, south Indian eating joints, continental restaurants, to list a few, but taste of many parts or the world are budding business in Singapore.
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Information Technology
Taking advantage of Southeast Asia’s emerging IT skills and comparatively cheap manpower the industry is growing in Singapore. Many global IT corporates have set up their development centres in Singapore. The country is finely meets InfoTech business’s infrastructural needs. Singapore Infocom Development Authority is designated authority to provide support to new IT ventures.
Telecom Industry
Singapore is a hub of telecom technologies. It caters with many services and technologies the entire Southeast Asia. The state owned major, Singapore Telecommunications Limited (SingTel) alone has provided about 185 million customer mobile connections. The company has mobile subsidiaries in many Asia Pacific countries. This company also provides internet services and fixed landline telephone services in these countries. Singapore has many smaller telecom operators and telecom equipment manufacturers, telecom software providers. The country offers good business prospects for new entrants in the large, medium and nominal entrepreneurs.
Latest in business:
- Singapore and Indian SMEs in the engineering services and products field at a Buyer-Seller Meet and business matching session organized by the Singapore Business Federation's (SBF) India Business Group, the Singapore Manufacturers' Federation (SMa) and the Engineering Export Promotion Council of India (EEPC) were informed about opportunities for business collaboration.
- Singapore has a golden opportunity to join forces with the Russian Corporation of Nanotechnologies (RUSNANO), banking on its immense financial resources and knowledge of the Russian Nanotechnology market potential, tapping on the existing synergy between the two countries to get into economic ties.
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