Doing Business in Singapore:
Singapore, just after Japan, is the most developed and richest country in Asia. Not without reason it is called an “Asian Tiger”. Currently, this small city-state is the fourth largest financial centre in the world (after London, New York and Tokyo). It is a country that very quickly achieved significant economic growth. The country's economy is based mainly on trade, business and financial services, the electronics and telecommunications industry, tourism, shipbuilding and transport (Singapore is the largest port in the world in terms of reloading). All raw materials are imported. The country is also famous for its low inflation (1%) and low unemployed rate (2.1%). There is no minimum wage in the country, no retirement age and no pension pay.
It is worth mentioning that Singapore used to import even 50% of drinking water, mainly from the neighbouring Malaysia. But not any longer. After acquiring modern technologies by Singapore, it is Malaysia that now imports water from Singapore. The Singaporean government plans to quit supplying the country in water from outside by 2060. The country exports mainly products of the electronics industry, mechanical and electrical devices, mineral fuels, chemical products and plastics as well as medicines. In terms of GDP, Singapore is in the forefront.