EMERGING MARKET ECONOMIES

REPORT
On
Is Singapore the right country to invest in today?

Submitted To
Professor Sangita Kamdar
NMIMS,Mumbai

Submitted By
Akshay Sharma B055
Ishtmeet Singh G004
Jaimeet Gandhok G019
Introduction
Singapore is a democratic state that has been ruled by only one party, the Peoples Action Party
(PAP), since independence in 1965. In the September 2015 election, the PAP won 83 of the 89
parliamentary seats and 69.9 percent of the vote. Prime Minister Lee Hsien Loong has led the
government since 2004. Certain civil liberties, such as freedom of assembly and freedom of speech,
remain restricted, but the PAP has embraced economic liberalization and international trade.
Singapore is one of the worlds most prosperous nations. Its economy is dominated by services, but
the country is also a major manufacturer of electronics and chemicals.

Singapore has a highly developed trade-oriented market economy. Singapore's economy has been
ranked as the most open in the world, 7th least corrupt, most pro-business, with low tax rates
(14.2% of Gross Domestic Product, GDP) and has the third highest per-capita GDP in the world in
terms of Purchasing Power Parity (PPP).

Government-linked companies play a substantial role in Singapore's economy, which are owned
through the sovereign wealth fund Temasek Holdings, which holds majority stakes in several of the
nation's largest companies, such as Singapore Airlines, SingTel, ST Engineering and MediaCorp.

The economy of Singapore is a major Foreign Direct Investment (FDI) outflow financier in the world.
Singapore has also benefited from the inward flow of FDI from global investors and institutions due
to its highly attractive investment climate and a stable political environment.

Exports, particularly in electronics, chemicals and services including Singapore's position as the
regional hub for wealth management provide the main source of revenue for the economy, which
allows it to purchase natural resources and raw goods which it lacks. Moreover, water is scarce in
Singapore therefore water is defined as a precious resource in Singapore along with the scarcity of
land to be treated with land fill of Pulau Semakau. Singapore has limited arable land, meaning that
Singapore has to rely on the agro technology park for agricultural production and consumption.
Human resources is another vital issue for the health of the Singaporean economy. The economy of
Singapore ranks 2nd overall in the Scientific American Biotechnology ranking in 2014, with the
featuring of Biopolis.

The Port of Singapore is the second-busiest in the world by cargo tonnage. In addition, Singapore's
port infrastructure and skilled workforce, which is due to the success of the country's education
policy in producing skilled workers, is also fundamental in this aspect as they provide easier access to
markets for both importing and exporting, and also provide the skill(s) needed to refine imports into
exports.

Singapore's government promotes high levels of savings and investment through policies such as the
Central Provident Fund, which is used to fund its citizen's healthcare and retirement needs.
Singapore's savings rates have remained among the highest in the world since the 1970s. Most
companies in Singapore are registered as private limited-liability companies (commonly known as
"private limited companies"). A private limited company in Singapore is a separate legal entity, and
shareholders are not liable for the company's debts beyond the amount of share capital they have
contributed.

To preserve its international standing and further its economic prosperity in the 21st century,
Singapore has taken measures to promote innovation, encourage entrepreneurship and re-train its
workforce. Also, to attract foreign talent, Singaporean government issues Employment Pass (EP)
under three categories viz. P1 Employment Pass for those individuals with monthly income of $8,000
and up, P2 Employment Pass for individuals with monthly income of $4,5007,999 and Q1
Employment Pass individuals with a monthly income of at least $3,000. The Ministry of Manpower
(Singapore) (MoM) oversees the matter related to immigration of workers. These measures aim to
boost Singapore's productivity, so that Singapore remains competitive and ready for the challenges
of an information-driven global economy.

Sectors
Banking

Singapore is considered a global financial hub, with Singapore banks offering world-class corporate
bank account facilities. In the 2017 Global Financial Centres Index, Singapore was ranked as having
the third most competitive financial center in the world after London and New York City (and
alongside cities such as Hong Kong, Tokyo, San Francisco, Chicago, Sydney, Boston, and
Toronto).These include multiple currencies, internet banking, telephone banking, checking accounts,
savings accounts, debit and credit cards, fixed term deposits and wealth management services.
According to the Human Rights Watch, due to its role as a financial hub for the region, Singapore has
continually been criticised for reportedly hosting bank accounts containing ill-gotten gains of corrupt
leaders and their associates, including billions of dollars of Burma's state gas revenues hidden from
national accounts. Singapore has attracted assets formerly held in Swiss banks for several reasons,
including new taxes imposed on Swiss accounts and a weakening of Swiss bank secrecy. Credit
Suisse, the second large11st Swiss bank, moved its head of international private banking to
Singapore in 2005.

Tax evasion is illegal in Singapore; however, according to an Organisation for Economic Co-operation
and Development official, Singaporean authorities tend to cooperate with other countries' tax
authorities only when evasion of Singaporean taxes is involved.

Biotechnology

Singapore is aggressively promoting and developing its biotechnology industry. Hundred of millions
of dollars were invested into the sector to build up infrastructure, fund research and development
and to recruit top international scientists to Singapore. Leading drug makers, such as
GlaxoSmithKline (GSK), Pfizer and Merck & Co., have set up plants in Singapore. On 8 June 2006, GSK
announced that it is investing another S$300 million to build another plant to produce paediatric
vaccines, its first such facility in Asia. Pharmaceuticals now account for more than 8% of the
country's manufacturing production.

Energy and infrastructure

Singapore is the pricing centre and leading oil trading hub in Asia. The oil industry makes up 5 per
cent of Singapore's GDP, with Singapore being one of the top three export refining centres in the
world. In 2007 it exported 68.1 million tonnes of oil. The oil industry has led to the promotion of the
chemical industry as well as oil and gas equipment manufacturing. Singapore has 70 per cent of the
world market for both jack-up rigs and for the conversion of Floating Production Storage Offloading
units. It has 20 per cent of the world market for ship repair, and in 2008 the marine and offshore
industry employed almost 70,000 workers.

Singapore workforce

In 2000, Singapore had a workforce of about 2.2 million. The country has the largest proficiency of
English language speakers in Asia, making it an attractive place for multinational corporations. The
National Trades Union Congress (NTUC), the sole trade union federation which has a symbiotic
relationship with the ruling party, comprises almost 99% of total organised labour. Government
policy and pro-activity rather than labour legislation controls general labour and trade union
matters.

The Employment Act offers little protection to white-collar workers due to an income threshold. The
Industrial Arbitration Court handles labour-management disputes that cannot be resolved informally
through the Ministry of Manpower. The Singapore Government has stressed the importance of co-
operation between unions, management and government (tripartism), as well as the early resolution
of disputes. There has been only one strike in the past 15 years.

Singapore has enjoyed virtually full employment for long periods of time. Amid an economic slump,
the unemployment rate rose to 4.0% by the end of 2001, from 2.4% early in the year.
Unemployment has since declined and as of 2012 the unemployment rate stands at 1.9%.

While the Singapore government has taken a stance against minimum wage and unemployment
benefit schemes, in 2007 the government introduced a Workfare Income Supplement (WIS) scheme
to supplement wages of low-skilled workers. In order to support employers in hiring older
Singaporean workers, Special Employment Credit (SEC) was introduced in 2011. It was first enhanced
in 2012 to provide employers with support in hiring older Singaporean workers and Persons with
Disabilities (PWDs). It helped the employers to cope with costs associated with the increase in
Central Provident Fund (CPF) contribution rates for older workers. The 5 year SEC scheme was
further extended to additional 3 years, up to 2019 to encourage employers to voluntarily re-employ
older workers aged 65 and above.

The Singapore Government and the NTUC have tried a range of programs to increase lagging
productivity and boost the labour force participation rates of women and older workers. However,
labour shortages persist in the service sector and in many low-skilled positions in the construction
and electronics industries. Foreign workers help make up this shortfall. In 2000, there were about
600,000 foreign workers in Singapore, constituting 27% of the total work force. As a result, wages
are relatively suppressed or do not rise for all workers. To have some controls, the government
imposes a foreign worker levy payable by employers for low end workers like domestic help and
construction workers. In 2012, the Ministry of Trade and Industry (MTI) reported that Singapore
should continue to fine-tune the calibration of its inflow of foreigners as the country continues to
face an ageing population and a shrinking workforce. Singapore Parliament accepted the
recommendations by its Economic Strategies Committee (ESC) for the optimal ratio of the level of
immigration and foreign manpower for both high and low skilled workers. The Government
recognises that the current overall foreign workforce should complement the local resident
workforce and not replace the Singaporean Core concept, and helps companies greatly as they raise
productivity through business restructuring and workforce retraining; raise resident labour force
participation rate.
GUIDES Framework
Unemployment

Singapores seasonally adjusted per centum stood at two.2 % within the Gregorian calendar month
quarter of two017, an equivalent as within the previous 2 quarters, preliminary estimates showed.
The unemployed rate remained at its highest level since the December quarter 2010. within the 3
months to Gregorian calendar month, the unemployed rate fell for residents (3.1 % from three.2 %
within the March quarter) and voters (3.3 % from three.5 percent). Some 3,500 employees were
arranged off, not up to the primary quarter (4,000) and a year agone (4,800). The decrease over the
quarter was broad-based across industries. Total employment fell seven,800, not up to a decline
within the preceding quarter (9,400), however a reversal from the expansion a year agone (2,100).
per centum in Singapore averaged two.45 % from 1986 till 2017, reaching AN all time high of half-
dozen % within the half-moon of one986 and a record low of 1.40 % within the second quarter of
1990.

Government Debt

Singapore recorded a government debt like 104.70 % of the country's Gross Domestic Product in
2015. Government Debt to value in Singapore averaged eighty nine.63 % from 1993 till 2015,
reaching AN all time high of 106.20 % in twenty12 and a record low of sixty six.90 % in 1994.

Interest Rate

The benchmark rate in Singapore was last recorded at zero.99 percent. rate in Singapore averaged
one.66 % from 1988 till 2017, reaching AN all time high of twenty % in Gregorian calendar month of
1990 and a record low of -0.75 % in Oct of 1993.

Growth Rate

The Gross Domestic Product (GDP) in Singapore dilated two.20 % within the second quarter of
twenty17 over the previous quarter. value rate in Singapore averaged half-dozen.78 % from 1975 till
2017, reaching AN all time high of thirty seven.20 % within the half-moon of twenty10 and a record
low of -13.50 % within the fourth quarter of 2008.

Inflation Rate

Consumer costs in Singapore rose zero.5 % from a year earlier in Gregorian calendar month of 2017,
compared to a one.4 % rise within the previous month and below market agreement of a zero.7 %
increase. costs accumulated but in a very month earlier for food and transport whereas price of
housing declined once more. Core shopper costs that exclude prices of accommodation and personal
road transport, went up 1.5 percent, following a one.6 % gain in might whereas market calculable a
one.6 % rise. it absolutely was rock bottom reading since March. On a month-on-month basis,
shopper costs declined by zero.1 percent, when gaining zero.3 % in a very month earlier. rate in
Singapore averaged two.64 % from 1962 till 2017, reaching AN all time high of thirty four % in March
of 1974 and a record low of -3.10 % in Sept of 1976.
Tax

The Personal revenue enhancement Rate in Singapore stands at twenty two %. income charge per
unit in Singapore averaged twenty.38 % from 2004 till 2016, reaching AN all time high of twenty-two
% in twenty04 and a record low of 20 % in 2006

Ease of Doing Business

Singapore is hierarchical two among a hundred ninety economies within the simple doing business,
in line with the newest UN agency annual ratings. The rank of Singapore improved to two in 2016
from three in 2015. simple Doing Business in Singapore averaged one.33 from 2008 till 2016,
reaching AN all time high of three.00 in 2015 and a record low of one.00 in 2009.

Exports

Exports in Singapore attenuated to 43039.91 Million SGD in Gregorian calendar month from
44143.49 Million SGD in might of 2017. Exports in Singapore averaged 14672.75 Million SGD from
1964 till 2017, reaching AN all time high of 46169.53 Million SGD in Gregorian calendar month of
2014 and a record low of 197.68 Million SGD in Gregorian calendar month of 1964.

Imports

Imports in Singapore attenuated to 36599.88 Million SGD in Gregorian calendar month from
38594.05 Million SGD in might of 2017. Imports in Singapore averaged 13897.71 Million SGD from
1964 till 2017, reaching AN all time high of 44108.04 Million SGD in Gregorian calendar month of
2012 and a record low of 266.38 Million SGD in Gregorian calendar month of 1964.

Foreign Direct Investment

Foreign Direct Investment in Singapore accumulated by 25144.80 SGD Million within the half-moon
of 2017. Foreign Direct Investment in Singapore averaged 11677.06 SGD Million from 1995 till 2017,
reaching AN all time high of 29895.30 SGD Million within the half-moon of 2014 and a record low of -
4441.60 SGD Million within the second quarter of 2003.

External Debt

External Debt in Singapore remained unchanged at zero SGD Million within the fourth quarter of
2016 from zero SGD Million within the third quarter of 2016. External Debt in Singapore averaged
seven.55 SGD Million from 1990 till 2016, reaching AN all time high of one hundred thirty.60 SGD
Million within the half-moon of 1990 and a record low of zero SGD Million within the fourth quarter
of 1995.

Military Expenditure

Military Expenditure in Singapore accumulated to 9986.30 USD Million in 2016 from 9394.20 USD
Million in twenty15. Military Expenditure in Singapore averaged 4997.07 USD Million from 1970 till
2016, reaching AN all time high of 9986.30 USD Million in 2016 and a record low of 849.70 USD
Million in 1970.

Government Expenditure

Government outlay in Singapore accumulated to 10542.10 SGD Million within the half-moon of 2017
from ten442.90 SGD Million within the fourth quarter of 2016. Government outlay in Singapore
averaged 4159.43 SGD Million from 1975 till 2017, reaching AN all time high of 10542.10 SGD Million
within the half-moon of 2017 and a record low of 733.60 SGD Million within the half-moon of 1975.

Government Revenues

Government Revenues in Singapore attenuated to 6940.50 SGD Million in Gregorian calendar month
from 8531.70 SGD Million in might of 2017. Government Revenues in Singapore averaged 5691.16
SGD Million from 2011 till 2017, reaching AN all time high of 8640.50 SGD Million in might of 2016
and a record low of 3193.50 SGD Million in Gregorian calendar month of 2014.

Current Account As A Share of value

Singapore recorded a accounting surplus of nineteen % of the country's Gross Domestic Product in
2016. accounting to value in Singapore averaged eleven.87 % from 1980 till 2016, reaching AN all
time high of twenty six.10 % in 2007 and a record low of -13.10 % in 1980.

Tax Structure

Period of Stay (inclusive of work) in

Tax Residency Status Tax Implications
Singapore

At least 183 days in a year Tax resident for that Income is taxed at progressive
year resident rates.
You may claim tax reliefs.

At least 183 days for a continuous Tax resident for both Income is taxed at progressive
period over two years years resident rates.
You may claim tax reliefs.

Three consecutive years Tax resident for all Income is taxed at progressive
three years resident rates.
You may claim tax reliefs.

Exchange Rate

Change Date
Value

Bond Yield 2.13 1.67 %

Exchange Rate 1.36 0.23 %

On twenty four August, the Singapore dollar unerect to Associate in Nursing over-five-year low
commerce at one.41 SGD per USD. The figure was two.7% weaker than on constant day of the
previous month and twelve.7% weaker on Associate in Nursing annual basis. The SGD has lost six.2%
of its price since the start of the year. The crash of the currency followed the surprise modification in
Chinas exchange policy, as its financial organization set to devalue the tightly controlled yuan,
resulting in a pointy fall of the Chinese currency. As a consequence, the Singapore dollar, that is
among a collection of currencies that area unit wide seen as terribly sensitive to Chinas exchange
policy, followed the yuans path.

Impact and Overall Evaluation of Singapore as an Investment Destination

Organizations hoping to set up in Singapore can expect integrity, adaptability and respect for
intellectual capital to be stressed upon by a vital and strategic government, which is receptive to the
requirements of organizations to secure innovation and development.

The administration has constantly adopted an ace business approach that is pro-business, paying
little heed to world financial circumstances or crises. It has taken intense measures including
lessening corporate tax rates, bringing down employers' Central Provident Fund (CPF) rates and
topping office rental rates. For the nature of its administration arrangements, Singapore has been
evaluated the world's easiest place to do business.

Trust and Government Support

TRUST IS KEY FOR ANY BUSINESS OPPORTUNITY IN SINGAPORE

Singapore offers investors an appealing and stable macroeconomic condition. Fast

industrialization, combined with FDI supporting policies, has changed the city-state into an
exceedingly alluring area for foreign capital. As per 2016 UN World Investment Report,
Singapore FDI inflows remained at US$65 billion as of 2015, while FDI in 2016 dropped to
US$50 billion. Manufacturing and services are the real contributors of the economy and
record for very nearly 80 to 85 percent of the GDP.
For over 10 years, Singapore positioned among the best three nations in the Ease of Doing
Business index. As per the current 2017 Doing Business Study by the World Bank (in which
Singapore positioned second among 190 nations), the nation positioned the most
astounding in four aspects beginning a business, managing construction permits, property
registration and paying taxes.
Established is a strong, robust and business-friendly Intellectual Property (IP) administration
that has helped Singapore to develop as the IP hub in Asia. The nation was positioned fourth
in the current World Economic Forum Global Competitiveness Report 2016-2017 IP index.
Singapore likewise utilizes a mix of low taxes also, fiscal incentives as a focused system to
draw in FDI. Surely, a reliably robust IP environment was what impelled the World
Intellectual Property Office (WIPO) in 2009 to set up its first Asian territorial office here. Due
to its master IP position, more than 30 leading biomedical sciences organizations have set up
local home office here also.
The city-state corporate income tax of 17 percent is one of the least among nations. To pull
in organizations prepared to invest in Singapore, the administration keeps its tax rates and
assessment laws competitive and takes a strategic and all encompassing methodology
 towards stewardship of key mainstays of the economy- petrochemicals, electronics, and
clean energy.
Bureaucratic frameworks , for example, TradeNet give a solitary window to trading firms
to communicate with the administration. Set up in 1989, TradeNet now handles around
30,000 statements for every day and procedures 99 percent of licenses inside 10 minutes.
TradeNet adds to right around 25 to 30 percent savings in processing documentation for
trade firms.
Future Singapore- This is designed to develop and test bed new ideas and solutions in the
areas of urban living, wellness, ageing and healthcare, and lifestyle products and services.

Knowledge based economy driving industries

Other than the multi-cultural nature of Singapore's workforce and capacity to pull in worldwide
ability, the city is making way to become a noticeably worldwide knowledge capital that will drive its
leadership position in key knowledge-intensive industries.

The multi-cultural Singaporean workforce is exceptionally educated, profoundly motivated

and very productive. Singapore has an extensive base of designing ability, with the quantity
of architects in colleges and polytechnics extending relentlessly every year, notwithstanding
the sizeable pool of skilled professionals.
An open immigration policy has served to improve Singapore's talent pool. This gives
organizations the chance to source for the best staff from anyplace in the world.
Also, an immense range of training and scholarship programs are much of the time created
by the government with industry accomplices. Such activities guarantee that the workforce
is future-prepared. This has helped deliver a workforce that is positioned No.1 on the in the
course of the most recent 30 years. (Business Environment Risk Intelligence's 2014 Labor
Force Evaluation Measure report).
In the most recent decade, Singapore has effectively developed its R&D base, drawn best
scientific and innovative talent and sustained R&D coordinated efforts between the public
and private enterprises. Today, Singapore holds the leader position in electronics and
petrochemicals. The city-state remains an appealing base for complex manufacturing, paired
with its move towards a more learning driven and researched based economy. This
accentuation on innovation and capital-intensive activities and a globalized workforce has
molded Singapore into a city-state where Chinese and Indian organizations can
internationalize, where American and European organizations make their entrance into Asia,
and where sees on the eventual fate of this dynamic and quick evolving region can be
fashioned.

Global Connectivity

As the worldwide transportation hub point with the most broad and complete system of trade
agreements in Asia, Singapore's unparalleled connectivity and infrastructure paves way for
better access to market and trade flows from nearby and international organizations alike.

Singapore has based on its beneficial geography to wind up noticeably one of the
world's best transportation centers for ocean and air freight. Singapore's container ports
are the busiest on the planet. They offer a decision of 200 delivery lines with
connections to somewhere in the range of 600 ports in 123 nations.
 Changi International Airport is connected to somewhere in the range of 330 urban areas
in around 80 nations, with around 6,800 week after week flights, giving accommodation
and powerful worldwide network for travelers and payload.
Getting around the island is easy with the exceedingly effective Mass Rapid Transit
framework, and transport and taxi administrations. On the infocomms front, the
nation's broadband system comes to 99 for each penny of the populace. Global and local
network now remains at 27.6 Tbps to more than 100 nations.

Electronics

Growing Asian Demand- With the continuous shift of the business' focal point of gravity to Asia,
Singapore's solid fundamental in electronics industry makes it a preferred location for electronics
companies to make and oversee new markets, products and procedures, technologies and
applications for the locale and beyond it.

World-Class Electronics Hub- Singapore's electronics industry is a world-class, advancement driven

centre point that gives innovation, assembling, and business solutions to empower the improvement
of new development zones. Today, Singapore represents one out of 10 wafer starts across the globe,
and 40% of the worldwide hard disc media are fabricated here.

Backbone of the Economy- Electronics is the major business supporting Singapore's financial
development, and it contributed 29% of the aggregate manufacturing value-add in 2013. Of the
S$11.8 billion in fixed asset investments, EDB secured in 2014, electronics represented 14% of the
aggregate investments. Employment remains at 80,000, which is 19% of aggregate manufacturing
occupations. Assembling of manufactured items creates spin-offs to different sections of the
economy, for example, precision components manufacturers, chemicals and materials providers,
electronic assembling systems, and logistics providers.

Manufacturing Capabilities-

9 of top 15 fabless semiconductor companies, and 30 IC design centres

14 silicon IC wafer fabrication plants and world's top 3 wafer foundries
15 semiconductor assembly and test facilities, including 5 of the worlds top ones
6 top of world integrated device manufacturers
All of the worlds top 3 hard disc media manufacturers
4 of top 5 worlds Electronics Manufacturing Services (EMS) providers

Chemicals

Immense growth patterns like fast urbanization, changing socioeconomics and the ascent of the
Asian working class are driving demand. With more noteworthy interest for transportation fuel, and
in addition petrochemical as well as specialty chemical products, the Asia development story makes
a window of chance for the chemical business and top chemical organizations in Singapore.

As one of the world's leading energy and chemical industry centers, Singapore's commitment to the
business is immense, both as far as yield and research, and the Republic is always attempting to
remain at the bleeding edge of the business' progression. In 2010, the chemicals sector contributed
S$38 billion of the manufacturing output, a noteworthy ascent from S$28 billion out of 2009.

Jurong Island: Prime Location- Singapore's position as a worldwide chemicals hub has developed in
pair with the broad advancement of Jurong Island a coordinated complex housing majority of the
world's leading energy and chemical organizations, among them BASF, ExxonMobil, Lanxess, Mitsui
Chemicals, Shell and Sumitomo Chemicals. At present, Jurong Island has effectively pulled in
interests in excess of S$35 billion.

Base for High-Tech manufacturing and R&D- Exclusive manufacturing procedures are vital to the
competitiveness and chemical companies along the value chain. Given the country's solid reputation
for intellectual property rights assurance, Singapore is perfect for organizations trying to create and
market exclusive technologies and top of the line producing forms. Jurong Island is additionally a
secured producing area that places a need on wellbeing and security. Furthermore, Singapore has
contributed vigorously, and will keep on doing in this way, in R&D framework and looks to work with
the business to make fresh starts in the nation.

Specialty Chemicals- Utilizing on the nation's qualities as a main market player in different zones, for
example, marine and offshore engineering, water treatment and lubricants, Singapore is very much
situated to additionally grow the chemical business by concentrating on high value specialty
chemicals that serve these sectors. Furthermore, claim to specialty chemicals organizations can use
the nearness from Singapore to their clients and the end-consumers, and react with dexterity to the
rising needs of Asian purchasers by improving new applications.

Research and Development- Situated on Jurong Island, the Institute of Chemical and Engineering
Sciences (ICES) is a self-governing national research establishment under A*STAR (Agency for
Science, Technology and Research). It was made to attempt diverse scope of activities from
exploratory research to process improvement, streamlining and critical thinking and in addition the
running of pilot-scale ventures.

Pharmaceuticals and Biomedical

When pharmaceutical and biotechnology organizations around the globe are tackling declining R&D
profitability, Singapore's coordinated research biological community empowers organizations to
achieve multidisciplinary abilities in a solitary area, which enhances R&D leadership and quickens
drug discovery and improvement. More than 30 of the world's driving biomedical sciences
organizations (GlaxoSmithKline, Novartis and Takeda) are utilizing Singapore as a key home base to
drive innovation, developing the country's biotechnology and pharmaceutical industry by more than
30 percent in 2011.
The multi-ethnic city-state which is the main logistics hub globally and has world class IP protection,
is currently Asia's quickest developing bio-group, giving strategic organizational openings with
research institutes, corporate labs and open clinics to grow new pharmaceuticals and future
treatments that can be modified for local and worldwide markets.

Regional Bio-Tech R&D Hub

Concentrated on building up a dynamic biomedical sciences research biological system,

Singapore has developed a solid scientific establishment with seven research organizations
and five research consortia in key fields that incorporate clinical sciences, genomics,
bioengineering, atomic/cell science, restorative science, bio-imaging and immunology. More
 than 50 organizations are conducting biomedical sciences R&D that incorporates drug
discovery, translational and clinical research, every now and again teaming up with research
organizations.
The city-state has likewise gained noteworthy ground in translational and clinical research. It
has developed key foundation, for example, the Investigational Medicine Units committed
for early-stage trials out in hospitals, and in addition the Singapore Clinical Research
Institute, which concentrates on supporting later-stage trials. These offices will thus bolster
the growing group of clinician researchers in Singapore.
New treatments and advancements are continually made accessible by clinical research
drew in by hospitals and specialty centers, in a joint effort with a portion of the world's best
medical organizations, pharmaceutical and medicinal tech firms. Leads to new treatments
that advantage patients are being found through world-class scientific research encouraged
by the Agency for Science, Technology and Research (A*STAR) and its biomedical research
establishments.

World Class Clinical Excellence

Singapore is renowned for its clinical research and clinical trials administration exercises in
Asia. As the secretariat for the APEC Coordinating Center for Good Clinical Practice (GCP),
Singapore assumes a key part in creating GCP in Asia, directing activities.
These components have pulled in numerous worldwide pharmaceutical brands to set up
their territorial clinical trial hubs in Singapore. These pharmaceutical organizations
incorporate Sanofi-Aventis, GlaxoSmithKline, MSD, Novartis, and Sanofi.
Making progressions cancer research in Singapore is the NUS Cancer Science Institute which
creates novel treatment for tumor through clinical trials. The CTRG is a multi-institutional
research joint effort of which a couple of key establishments.
A few Contract Research Organizations (CROs) have additionally settled operations in
Singapore to help the pharmaceutical firms' developing outsourcing needs.

Government Initiatives

STaR- A center of clinician researchers has been developed in Singapore through activities, the
Singapore Translational Research Investigator Award; CSA- Clinician Scientist Award, which gives
look into subsidizing and compensation support to empower restorative analysts to give more
opportunity to research; TCR- The Translational and Clinical Research Flagship Program which
displays a stage for specialists and clinician researchers to work together. CRP- Competitive Research
Program is a subsidizing plan that backings a wide base of research thoughts, through an aggressive
base up approach. BMAC- Biopharmaceutical Manufacturers' Advisory Council, an industry-
government bunch involving nearby pharmaceutical plant site chiefs and government offices,
underscores Singapore's commitment to innovation and manufacturing

Advances in Digital Health- 2015, MSD set up its Global IT Hub in Singapore. The hub focuses on
areas such as data science, cyber security, and software engineering, and recently included a digital
health studio, bioinformatics and cognitive computing to its array of competencies to harness
technology for better healthcare.

Dedicated Infrastructure- Biopolis and Tuas Biomedical Park