Singapore Businesses Shine Despite World Economic Slowdown

Singapore businesses continue to shine despite world economic slowdown, precipitated by Eurozone sovereign debt crisis and USA joblessness.

hongkong, Singapore (prHWY.com) September 6, 2012 - Singapore businesses continue to shine despite world economic slowdown, precipitated by Eurozone sovereign debt crisis and USA joblessness. Banks in Asia are relatively unhurt by these global events. That is why the world is looking at Asia to shore up the world economy and many countries wish to do business here in this prospering nation.

People are emigrating and travelling to Singapore to set up Singapore companies and businesses through the legal corporate registration in this city state. The Singapore government has made it easy and convenient for businessmen to set up businesses and companies on the island state. Bureaucracy and red tape are removed. Everything is transparent and giving money under the table is a big no-no!

You will be brought to court and prosecuted if you ever do that!
That is why Singapore is known as 'The Switzerland of the East' - rich, corrupt free, developed and prospering.

This is the reason why it is easy to set up Singapore companies and businesses here. There is no corruption amongst the government officials or ministers, unlike its Asian neighbours where corruption is rampant and you need to give commissions to the officials in order to secure a government project.

You also cannot take it for granted that the state of affairs here in Singapore will continue to prosper for a long time if the Eurozone debt debacle is not solved soon, coupled with the USA higher rate of joblessness and subprime mortgage crisis in 2008.

The world is interconnected; hence no country is an 'island' and able to fend off or withstand the gloomy world economic effects.
On a side note, Singapore's economy contracted in the second quarter of the year. This is unlikely to dent the appeal of the country's stock market, one of this year's outperformers in Asia, strategists say.

Vasu Menon, Vice President, Wealth Management Singapore at OCBC Bank says Singapore is becoming a favorite among international fund managers, because its blue-chip companies are paying out higher dividends than companies in other parts of the world facing a sharp slowdown in economic growth.

"If you look at the performance of Asian markets year-to-date, Singapore stands out like a sore thumb -- it is the second-best performing market in Asia in U.S. dollar terms [total returns] after the Philippines," Menon said on CNBC Asia's "Squawk Box."

About the Author:

SBS Consulting is a leading Singapore-based firm that provides comprehensive range of company registration , accounting, taxation ,payroll, auditing , IT consulting, software development, immigration and statutory administration services to business professionals and entities.

SBS Consulting Pte Ltd
Phone: +65 6728 9142
Website: http://www.sbsgroup.com.sg/

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