Ease of Doing Business and Corruption

Ease of Doing Business Ranking – Singapore’s global rank of 2nd in its ease of doing business is a clear indicator of Singapore’s positive business environment. Singapore has maintained a top 3 ranking consecutively for the past 13 years, which highlights its strong and stable capabilities in terms of enforcing contracts, resolving insolvency, starting a business, registering property, paying taxes and trading across borders.

 

 

IPRI Ranking – Singapore ranked 2nd out of 129 countries that were included in the Intellectual Property Rights Index.

 

Perceived Transparency Ranking – In order to gain foreign investments, the government of Singapore set out to ensure that the nation would form a safe place for residents and immigrants. The low crime rate on account of high education rates, and high income owing due to ease doing business has made Singapore one of the safest regions in the world.  Furthermore, the establishment of the Corrupt Practices Investigation Bureau in 1952 along with high payments to government employees aided in combating corruption, thereby resulting in Singapore to be ranked 4th out of 180 nations in its perceived transparency ranking.

 

Combating Crime – Despite Singapore’s low crime rates, Singapore has witnessed its 9-year high crime rate in 2019. This increase is mostly due to scams and cybercrimes, which are being actively looked into. The development of malware analysis tools by the Ministry of Home Affairs and high penalties for cybercrime has been put in place to maintain the nation’s low crime rate.

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