GuideMeSingapore

The overall economic outlook for Singapore is promising. Touching an optimistic note in his National Day Speech this year, PM Lee said

“we are getting good projects, long term projects here and one key benefit and one key strength we have in attracting these projects is the Singapore brand name.”

While the economies of many western countries are still struggling with the current economic downturn, it’s not so grey for Singapore. Many MNCs are looking at building their future and they see the future in Asia. As a result, overseas companies across several sectors are setting up and expanding operations in Singapore, which is an excellent springboard to access the Asia-Pacific region.

The nation’s success rides on the Singapore brand. A brand is a reputation. It is your face to the world. Nation branding is all about your performance as a nation and how you are perceived by the rest of the world. Singapore as a brand has outdone itself. How else would you explain companies like Rolls Royce which moved its marine division global HQ to Singapore this year, or Citibank which consolidated its global operations and technology functions in Singapore this July, or Standard Chartered which is expanding its priority banking division owing to the country’s dominance as an international fund management center in Asia?

The upward trend is also quite clear from the number of clients that are signing up for incorporation services with us. Not only the visitor traffic to our site has increased by 30% during the last 3 months, there has been a similar and steady increase in company registration orders for same period. It’s interesting to note that most of the increase in orders is coming from our foreign clients, especially the ones that plan to relocate to Singapore at the same time. Company incorporation plus employment pass package seems to be the most popular package!

Also taking advantage of the Singapore identity are local companies who are making a presence in overseas markets. Singapore based companies generally have a good reputation among foreign customers who associate the Singapore brand with integrity, reliability and efficiency.

The Singapore brand did not happen overnight. It has taken years of nation building by visionary leaders to transform this economy. The government realises that branding is a continuous process and Singapore keeps reinventing itself to stay on top of the game.

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