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Business Opportunities in Singapore |
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The champion of free trade in Asia, Singapore is an investment hub in the east. Many international business consortiums have appraised Singapore for its budding business nursery status. Post-globalization era business world has identified the tiny country as a potential business destination of the world. Many advantages, including geographical position of the country, infrastructural development, transportation – international and domestic, natural seaport that
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has stood world’s one of the largest for several decades, etc have contributed towards the commercial importance of Singapore. The World Bank in its report "Doing Business 2005" rates Singapore as the 3rd country where it is easy to conduct various businesses and trade. It also features on the 1st place for being the least bureaucratic place for doing business in Asia. Thus Singapore is a major business hub both in Asia and the world.
This section of FocusSingapore gives a brief introduction on viable business opportunities that are open for foreigners.
Travel & 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.
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.
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