Hi this is Tammy it’s been a while since we did a podcast, and there’s a lot of things going on right now in the world. But I hope everyone is safe and sound. Anyway, but what great about that is that the economy this 2022 is gradually back. Though most of the countries are experiencing inflation, at least some countries have totally opened their economy and are starting to recover from the impact of the pandemic.
And talking about inflation, the Philippines is hit as well. The price of the Goods, foods and gasoline are greatly affected. sadly, inflation makes some countries hungrier and poorer. But did you know that the inflation in the South-east asian countries is actually mild compared with many other countries in other parts of the world?
Some Asean countries still have high rates of inflation like us, Philippines at 6%, Thailand at 7% and others like South Korea and Singapore. But what’s good about them is that they can bounce back easily.
Let’s take Singapore as an example. Singapore has been experiencing inflation at approximately 6.7%. Knowing Singapore, it’s already an expensive country, what more if we add up the inflation rate. It’s becoming more expensive, right?
And for those who don’t know, Singapore is the largest port and busiest in Southeast Asia. It is always the top rank among other countries in Asia. Like how come they are in the top rank right? They don’t even have any natural resources aside from having beautiful scenery, fruits, animal farming and fish. They actually have invested heavily in education, skills and training. Their teaching models are one of the best in the world. Most of the private schools here in the Philippines usually offer Singapore math, they strongly believe in the quality of education in Singapore. Speaking of their people, they have highly educated, motivated and productive people.
We can say that Singapore is one of the most business-oriented nations in the world. One of the global leader and competitive in doing business. They are the reminder that openness and maintaining a global point of view is the only way to remain a competitive and successful economy.
And that’s one of the reasons why many investors like to invest in the country. Let’s talk about their economy. They have an open economy, they are good at sustaining economic growth, and its openness to investment friendly policies and international technology.
Did you know that even if the country is experiencing inflation, The economy continues to grow gradually. Investors are slowly going back. More and more tourists are going there after being stuck at home for a year. Singapore’s pro-business approach added benefit to the country’s highly competitive tax policy, investors wishing to open international companies can obtain benefits including a low corporate tax rate. Also, we have mentioned that they are the busiest country, why? Simply because their port connects over 200 shipping trade routes across 120 countries. That’s why they also have a lot of tourists, maybe a better term is the people doing business with pleasure in the country, right?
Changi airport is a natural stopover hub for hundreds of airlines. And one of the advantages of that is many people will stop over in the country – which means more income to the country. Amazing! And speaking of technology, you know that technology is getting better each year, and so you have to upgrade each time, like a cellphone that needs to be updated frequently.
Anyway, they really are good at attracting investors. Because if you still don’t know, they are consistently ranking top 1 as a business friendliness of countries, and top 1 in doing business. Imagine how great it is by making them an attractive place to incorporate and operate a business for both local and foreign entrepreneurs. And if you are planning to live and do business there? Why not?!
Living in Singapore
Well of course given that the country is one of the most expensive places to live in. It is known as one of the safest countries in the world, how? they are consistent in low crime rates, a very transparent legal system, and of course, reliable police force that is supported by their proactive citizens. I actually would rather live in an expensive place than in a country with a high crime rate. Well, of course who wouldn’t want right? There’s no better feeling than the feeling of being safe, for you and your family. Of course, and even if there are a lot of different ethnicities. They use one language. English. So there will be no language barriers.
And if you are planning to start your savings and opening a bank account, it is not a problem as well. If you decide to live there and work or open up a business it is easy as long as you have the have and complete the requirements.
Singapore is my dream country, I like to live in Asia, I love the food, the weather and the people. Or maybe because I’m already used to this kind of life. So yes, What makes Singapore attractive? There’s many to mention! Like a stable economy, rational tax system with low tax rates. Efficient process for incorporating and running a new company.
Other than what I mentioned they have excellent infrastructure, well-trained and productive people, well-developed country. And what I love the most is they have a stable political and economic climate, strong adherence to the rule of law. The government plays a big role in the country. Usually a successful country begins with a successful government.
After all, they believe in the excellent quality of life.
And that’s it! We are going to talk a lot about Singapore in our podcast so stay tunes! Because we are going to share with you interesting things about the country.
Yes, so if you have any questions you may email us and we will be more than happy to assist you.
Thanks everyone for listening, bye!