GuideMeSingapore

According to a recent Straits Times Report, the government has embarked upon its largest ever S$1.3 billion project to build a standard consolidated info-comm work environment in the public sector, which will eventually lead to more improvements to its back-end processes.

It is because of initiatives like these that Singapore has over the years earned various titles like, 2nd Most Network Ready Country in the World, 2nd Most Technologically Ready Nation in Asia and 13th Most E-ready Country in the World.

Time is money and people who are in the business of making money have no time to waste. Certainly not for running from pillar to post for business administrative matters. Foreign entrepreneurs often look for an environment where they can turn their ideas into businesses with ease and profitably. In short – an efficient environment. This is where the Singapore government’s e-journey has a significant role to play. Singapore is one of the few nations where technology is an integral part of its economic growth. It has created a business friendly environment by streamlining and simplifying government processes.

Setting up a Singapore company for example now takes as little time as 15 minutes, when compared to its previous one week norm. Government databases are updated within 30 minutes instead of 21 days. The amount of time businesses spend on applying for multiple licences and government registrations via a one-stop portal is one hour or less as compared to 5 hours. The average processing time for licenses is one week as against 21 days.

Singapore ranked first for “Ease of Doing Business” in the World Bank’s Doing Business 2010 report.

Interested in doing business in Singapore? Find out how to incorporate a Singapore company.