Singapore's economy is a highlydeveloped free market economy with dirigismecharacteristics. Singapore's economy was previously ranked as the most open, fourthcorrupt and most business-friendly in the world. Singapore has a low tax rate and has the second highest per capita GDP in the world in purchasing power parity (PPP). Asia Pacific Economic Cooperation (APEC) isheadquartered in Singapore. https://www.eheartland.sg/
In addition to the business-friendly reputation of global and local private and public companies, various state-owned enterprises play an important role in Singapore's economy. Temasek Holdings, a sovereign wealth fund, manages the shares of one of the largest companies in the country,including Singapore Airlines, SingTel, ST Engineering andMediaCorp. From a foreign direct investment (FDI) perspective, Singapore's economy is the major outflow financial institutionfor foreign direct investment in the world. In addition, Singaporehas benefited from a large influx of FDI from investors, financial institutions andmultinational corporations (MNCs) around the worldthroughout history due to its highly attractive investmentenvironment and modern stable and favorable political environment. I have received it.
Singapore, for example, in the wafermanufacturing industry and oil refining, has adopted the extended concept of trade mediation, purchasing and refining raw materials for re-export to maintain a high degree of export-oriented industrialization. .. Singapore has a strategic port that is more competitive than many of its neighbors in conducting such distribution activities. Singapore's trade-to-GDP ratio is the highest in the world, at 320% in 2020. Singapore's port is the world's second largest cargo tonnage and the busiesttransshipment port in the world.
Singapore has other Asiancountries due to its strategic location, high connectivity and infrastructure (air hubs and ports with different destinations, gigabit fiber communications, efficient roads and public transport), and immigration policy. Close to the Pacificmarket. Hosting global talent. In addition, Singaporeis an international tourist destination that is popularwith various types of tourism. Read more...