Singapore one of Asia’s most attractive investment destinations

Singapore one of Asia’s most attractive investment destinations

 

SINGAPORE is one of Asia’s best investment destinations for foreign firms, according to a study released yesterday.

The study covered over 200 international company executives – from chief executive officers to the heads of strategy.

 

The executives were asked in a survey conducted by financial advisory firm Ernst & Young and the Japan External Trade Organisation how they felt about investing in various Asian markets.

 

Seven out of 10 of the executives polled were in companies that were already operating in Asia.

 

About 27 per cent of the respondents voted for Japan and China, putting the two countries in joint-first position.

 

The runner-up was India, with 11 per cent.

 

Singapore and Hong Kong were tied in third place, with 10 per cent apiece.

 

In terms of actual investments, Singapore was fourth, with 239 projects last year, according to the survey.

 

China attracted 1,171 projects, a mammoth 38 per cent of all investments that went into Asia, followed by India, with 676, and Vietnam, with 260.

 

Singapore‘s strengths were its high quality of life, attractive corporate tax rates and stability, according to the survey.

 

Its weaknesses were its high labour costs, quality of research and development, and the lack of a domestic market.

 

China‘s advantages were – no surprise here – its low labour cost and huge domestic market, although its results were pulled down by its poorer quality of life.

 

Japan ranked well for its high-quality labour workforce and infrastructure, but this was, in turn, weighed down by high labour costs and an uncompetitive corporate tax structure.

 

A total of 19 markets were ranked in the survey.

——————————————————————————–

STRENGTHS AND WEAKNESSES

 

Singapore‘s strengths were its high quality of life, attractive corporate tax rates and stability, a survey of 200 company executives showed. Its weaknesses were its high labour costs, quality of research and development, and the lack of a domestic market.

 

Source: Straits Times

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s