With other countries around the world really trying to “lockdown” their borders when it comes to shutting foreign business talent out, Singapore is taking the exact opposite approach and trying to find as many ways as possible to poach the world’s best and brightest in the world of business and technology – all with a goal of becoming the next Silicon Valley and then maintaining that position for decades and decades to come.
The government took Singapore has always been very friendly towards business in the city-state of Singapore, but recently they have been looking for ways to bring new business into this nation.
In early 2017, a whole host of brand-new business-focused initiatives have been launched by the Singapore government and many more are in the pipeline to improve foreign investment opportunities and to make it as easy as possible for foreign businesses and organizations to set up shops in Singapore and conduct very profitable operations.
The Singapore government has always had a business-first and friendly focus
As we highlighted above, the Ministry of Trade and Industry in Singapore has always been about finding new ways to drive the Singapore economy forward. The overwhelming majority of focus up until just recently has been to expand the Singapore economy from the inside out, efforts that have rewarded this city-state in ways that few others could have ever anticipated.
Today Singapore is regarded as a positive and powerful influence in the global commerce community, with Singapore playing a very active role in shaping and reshaping the future of the global economy.
Now more than ever, however, the Singapore government has started to focus on building from the outside in – while still maintaining and improving efforts to develop “homegrown talent” in the business sphere.
Singapore is moving forward with a number of initiatives to boost investment from foreign entrepreneurs
Relaxing a considerable amount of financial regulations and restrictions that limited the amount of capital that foreign businesses had access to in Singapore is just one of the many new initiatives this government is taking to improve foreign investment, build a friendly business environment for foreigners, and to develop as much of a global business culture as humanly possible here.
The Singapore government and representatives from the Ministry of Trade and Industry have been pushing very hard to build as many bridges as possible to the outside world rather than building walls.
New investment is pouring into Singapore left and right and those that apply for the new EntrePass scheme intended to empower foreign entrepreneurs looking to build a business in Singapore with at least $50,000 in capital and a private limited company in this nation are starting to see a tremendous amount of success.
Infrastructure, business environment, and financial industry friendliness towards foreign business make Singapore a hotbed for action in the world of global commerce
At the end of the day, the overall goal for Singapore hasn’t changed.
Though this city-state has become known all over the world as the crown jewel of the financial community in southeast Asia Singapore wants to really arrive on the global scene and they likely will not stop until they are regarded as the ultimate place to build a business anywhere in the world.
If anyone can pull it off it’s the people of Singapore!