Why Singapore is ranked as the best country for doing business?

Question

The World Bank has ranked the tiny independent island of Singapore as the #1 economy in the world for business. Do you agree?
Top 20
1.Singapore
2.New Zealand
3.USA
4.Canada
5.China (Hong Kong)
6.UK
7.Denmark
8.Australia
9.Norway
10. Ireland
11.Japan
12.Iceland
13.Sweden
14.Finland
15.Switzerland
16.Lithuania
17. Estonia
18. Thailand
19. Puerto Rico
20.Belgium

see full list at: http://www.doingbusiness.org/EconomyRankings/Default.aspx?direction=asc&sort=1

Answer 1

Singapore has a very favorable business tax rate of 20% (the US corporate income tax rate is 45% on profits.)

Average inflation from the period 1995-2004 was only 1.18% - extremely low, and making investments more predictable.

They also are ranked at or near the the top for the world's most educated population.

Crime is well under control and laws are strictly enforced. (Capital punishment is given for drug smuggling.)

Answer 2

I would agree if I am a foreign investor, not a local dude though.
Singapore is a perfect Hub to branch out your business to the rest of the world, if not the region, taking into consideration with the government's support,social and financial securities here. Besides,Singapore has English to be its official "business language" and most of the locals speak at least some simple English, unlike several parts of Asia.
But if you are a local,I would suggest you to stick to your paid-job and think too much about doing business here,unless you have an unique business idea that NO ONE has started yet on the island.

Good Luck!

Answer 3

Because they don't interfere with the economy. It also ranks highest on the economic freedom index.

Answer 4

the world bank should know,,,,,
laws in Singapore are extreme........

Answer 5

They are advanced with technology and have a lot of regulations to keep down fraud.