Singapore's forward-looking economic strategy enables the city-state to secure its future before anyone else does; and they have been doing this for the past 50 years.
Why Foreigners Should Invest in Singapore Long Term
Despite the current gloom and bleak outlook Covid-19 has cast upon globally, one thing for sure is that together, we will pass this. Life will go on, and the sun will shine again. While the world takes a ‘breather’, we should use this opportunity of extra time to reflect and plan ahead.
For foreigners already working in Singapore, one of the major decisions they have to make is whether they have Singapore in their long-term plans, be it through Singapore Permanent Residency, or even Citizenship, later on.
So what is the Long-Term Pull of Singapore post Covid-19?
Singapore has what it takes for business to thrive
Attracting the world’s largest MNCs to the fastest-growing startups, Singapore continues to be the partner of choice for businesses. With the rise of the ASEAN brand, companies looking to deepen their presence can also leverage on Singapore as a base to build consumer insights, innovate and commercialise solutions for the region and beyond. Singapore remains a gateway to the region for top MNCs and fast-growing start-ups, with their top decision-makers choosing to call Singapore home.
Business Confidence in Singapore remains high despite Covid-19
In a recent survey, 97% of respondents backed Singapore as a long-term business centre while 87% said the Government has been effective in addressing the possible economic impact of the outbreak. Singapore’s size, has also proved to be her strength. With closer control and reach, Singapore’s well built and robust infrastructure also ensures business continuity and ability for swift turn around is highly possible.
Thriving Cultural and Business Diversity
In multicultural Singapore, having a diverse pool of opinions and perspectives can only lead to better business outputs. There are more than 1 million foreigners living and working in Singapore, making up almost a third of the overall workforce . Additionally, there are more than 7,000 MNCs in Singapore, making this city-state a true hub of diversity. Diversity is part of the fabric of Singapore; it’s what helps this city-state thrive, and what has helped it become a major player on the world stage of business and opportunity.
Political Stability and Supportive Government
One of the most important factors that has allowed Singapore to achieve so much together over the last 50 years and more is having constructive politics and a coherent government. Constructive politics is about bringing people with different aspirations, different capabilities and different concerns together to achieve results for themselves and for Singapore. Constructive politics is not about dividing ourselves against one another nor championing our respective personal agendas at the expense of the national agenda.
Safety and Security
Singaporeans feel safer than residents of any other place in the world, a global study has found. Research firm Gallup says 94 per cent of adults here feel safe walking alone at night, compared with the global average of 68 per cent. Singapore tops the list in the Law and Order Index, ahead of Norway, Iceland and Finland. Hong Kong and Uzbekistan are joint fifth. These traits are welcoming, especially for those with families and children. Singapore emphasizes safety and security throughout all facets of society as a means to ensure its prosperity.