Recent research in the business community indicates that Singapore is currently the priority destination for US companies looking to expand into the ASEAN region. Looking at the country’s economy, the workforce, its business ethos and growth, it is easy to understand why this is the case.
The talent pool in Singapore is impressive in a number of ways. English is one of the four official languages in the country, education levels are uniformly high, and there is a large and prosperous middle class.
Likewise, prospects for growth in Singapore remain high, with the Ministry of Trade and Industry (MTI) issuing a growth forecast for the year 2022 of 3% to 4%, following on from recorded growth in Q2 of 4.4%. This is expected to be accompanied by expanded production.
In addition, being located in Singapore provides US companies with easy access to the entire ASEAN region and market, with a population that is expected to reach over 720 million people by 2030....