SINGAPORE - The Republic is second in Asia in terms of the ease of doing business here, according to a report by professional services firm TMF Group released on Wednesday .
"Despite these uncertain times, Singapore is still a highly attractive regional and international business hub given the relative simplicity of doing business here," said Mr Edmund Lee, TMF Group managing director for Singapore. Singapore's competitive corporate tax rate of 17 per cent and double tax agreements signed with over 80 different countries also make it attractive for doing business.
It also pointed to the raising of the retirement and re-employment ages as a boost to the country's available workforce. TMF Group also noted that businesses need to prepare for fast-evolving regulations in the Asia Pacific, which have been accelerated by the outbreak of the pandemic.