Often referred to as the world’s largest archipelago, Indonesia comprises 17,500 islands and is one of the world’s emerging markets. Whilst a small city-state, on the other hand, Singapore has no known natural resources but yet revamped its economy to become one of the wealthiest countries in the world.
Singapore is a highly developed country and has received AAA sovereign rating from all significant sovereign rating agencies. The prosperous Asian economy is also among the four Asian tigers due to trade and other economic developments. Singapore enjoys a unique position in the global economy and plays a pivotal role as the business epicenter of Asia.
The emerging economies of India, China, and other Southeast Asian nations have ensured that an increasing number of companies are moving to this region to take advantage of large domestic markets, cheap labor availability, and booming infrastructure.
And standing firm on the pillars of low corporate tax rates, integrity, quality, reliability, high productivity, the rule of law, availability of skilled workforce, and enforcement of intellectual property rights, the city-state of Singapore provides the most conducive environment for companies looking to expand in the region.
Indonesia is the 16th largest economy in the world and the largest economy in Southeast Asia. As a young democratic country, Indonesia has maintained political stability since emerging from decades of autocratic rule. Demand for infrastructure in Indonesia is fueled by both economic growth and urbanization, while petroleum and minerals continue to make up the majority of exports. To continue reforming its investment climate, the government has rolled out measures to ease red tape, open up sectors for investment and improve public services.
While Indonesia has been classified as a newly industrialized economy, Singapore is a highly-developed, trade-oriented one. Due to a small land area and a lack of natural resources, Singapore had to rely on innovation and human capital for its development. This has successfully resulted in a leading global economy for high-end manufacturing and engineering, biotechnology, and financial services. Singapore’s strong institutions, effective policymaking, free trade philosophy, and diversified economy remain a major draw for investors.
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