Do you want to know one of the reasons why many people and business executives like Singapore? This is because unlike many other countries around the world, on the whole, Singapore makes sensible decisions only and is also pro business and pro investment (you can read more about Singapore’s GIP scheme here). Let us explain more in the following paragraphs.
First of all, Singapore understands that it is dependent on business travelers as well as investors for its success. As a result, it strikes a great balance between health and financial goals. It does not sacrifice one for the other – both are equally important. Therefore, other than it having a lockdown in April to June 2020, the entire SG has been steadily reopening the entire economy. This means that almost every business in SG has been operating now for many months smoothly. However, our country knows that it is also heavily dependent on both casual as well as business tourism. Our country has been looking into setting up travel bubbles as a result to try to get back to normal as much as possible, and as quickly as possible too. These pro-business actions have been part of our country’s actions and strategies since its founding in 1965, and is a reason why many business executives want to become a permanent resident in Singapore here yearly since our founding as a country.
Also, as a small country with not much natural resources, the local government and people knew right from the start that it needs to work on being seen as a business and investing hub of the world to truly develop into a world class country. Over the years, we have been focused on providing tax incentives to businesses and getting rid of as much red tape in business too so that more entrepreneurs would settle down in the country as permanent residents or citizens and grow successful home grown companies. Business minded migrants are attracted by this clear and constant wooing of them, and hence many do live here for the long term.