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Singapore Financial Hub

Singapore Financial Hub

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Published by cjcsucks

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Published by: cjcsucks on Dec 24, 2010
Copyright:Attribution Non-commercial


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Singapore International Financial CentreGateway to opportunities in Asia and beyondA well established and diversified financial sector
In just over four decades, Singapore has established a thriving financial centre of international repute, serving not only its domestic economy, but also the wider AsiaPacific region and in some instances, the world. Singapore's financial centre offers abroad range of financial services including banking, insurance, investment banking andtreasury services.A key aspect of Singapore’s financial centre is its deep and liquid capital markets. Withone of the more well-established capital markets in Asia-Pacific, the Singapore Exchange(SGX) is the preferred listing location for more than 200 global companies. Today,Singapore has grown to be the largest Real Estate Investment Trust (REITs) market inAsia ex-Japan and also provides an extensive offering of investments in business trustsof shipping, aviation and infrastructure assets.Singapore’s bond market has also grown significantly. With an extensive range of bothSingapore government securities and foreign corporate bonds available, Singapore offersfixed income investors a wide range of investment opportunities.As one of the top 5 most active foreign exchange trading centres in the world, Singaporeis also the second largest over-the-counter derivatives trading centre in Asia, and aleading commodities derivatives trading hub.With total assets under management of around S$1 trillion, and which continues to seesteady growth, Singapore is also recognized as one of the premier asset managementlocation in Asia.
Why Singapore?
As an international financial centre, Singapore offers financial institutions a pro-businessenvironment, excellent infrastructure, cost-competitiveness, a highly skilled andcosmopolitan labour force, and is strategically located in a region of opportunities.
Conducive business environment
Singapore has long been recognised as one of the best cities for business. In the Swiss-based international Institution for Management Development's 2008 WorldCompetitiveness Yearbook, Singapore has been ranked as the second-most competitivecountry in the world after the United States. This is what a World Bank report had to sayabout doing business in Singapore "It takes an entrepreneur just over 6 working days toget a new business going in Singapore, with low start-up costs. Overall, taking intoaccount other factors, including business licensing, taxes, credit legal rights and investorprotection, Singapore has about the most business-friendly regulation in the world."
Investors have also come to appreciate the high levels of transparency and reliability inbusiness, economic and regulatory affairs in Singapore. A stable political structure withparliamentary democracy, a well-established judicial system, and the presence of strongdomestic institutions with good corporate governance practices, have made theSingapore business environment even more attractive to global investors.
Excellent Infrastructure
Singapore's unique location and sophisticated telecommunications network allowfinancial institutions here to transact business with any part of the world within the sameworking day. International travel out of Singapore is equally convenient, with morethan 84 international airlines operating scheduled services through Singapore to morethan 180 cities in 57 countries worldwide.We have a robust and efficient legal and judicial framework and a well-regulatedinternational financial sector. Singapore is the only Asian country with a "AAA" rating.
Cost Competitiveness
We offer financial institutions a competitive tax rate environment. Singapore's corporatetax rate is one of the lowest in Asia-Pacific. Singapore also offers the advantage of having a comprehensive network of Double Tax Agreements with more than 60countries. Singapore also continues to be cost competitive compared with other majorcities.
Skilled Workforce & attraction of talents
We also have a skilled workforce to meet industry demand. In addition to grooming thelocal workforce meet the demand of the industry, Singapore also has an open doorpolicy to international talent and expertise. Washington-based risk consultancy agency,Business Environment Risk Intelligence (BERI), has rated Singapore's workforce as theworld's best workers since 1980. And according to the IMD World CompetitivenessYearbook 2007, Singapore has the most skilful and motivated labour force in AsiaPacific.
Strategic Location in a Region of Opportunities
Singapore is strategically located in a region of opportunities. Located at the heart of Southeast Asia, Singapore is well placed to serve the fast-growing markets of the Asia-Pacific region. Financial institutions in Singapore also trade around-the-clock with Asia-Pacific centres, as well as European and American centres, making Singapore asignificant hub for 24-hour trading in foreign exchange and securities. Internationaltravel is equally convenient. Singapore has grown to be a strategic link and importantgateway for global investors.Singapore seeks to ensure its relevance and connectivity to growth markets, not just inAsia but also beyond. As part of this initiative, Singapore has concluded Free Trade

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