Singapore is 6th-most attractive for business expansion

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The Republic has been ranked as the sixth-most desirable country in the world and third in Asia Pacific by companies looking to expand their business overseas, a survey by communications company BT found.

Released on Wednesday (July 16), the survey said respondents cited Singapore’s potential customer base and affluence of citizens as the most crucial factors contributing to the country’s high ranking. The nation’s IT skills,  quality of governance and IT security, were also named as factors attracting businesses to expand here.

About 41 per cent of the respondents in India chose Singapore as an excellent destination to grow their business. Furthermore, 47 per cent of respondents in India and 48 per cent in China are currently or planning to expand into Singapore, the survey found.

SINGAPORE BUSINESSES BRANCHING OUT

Among the Singapore respondents, 76 per cent believe that international expansion is highly essential for the success of their organisation. A total of 84 per cent said that growth opportunities are the main reason prompting them to expand overseas.

Singapore businesses chose the United States and Hong Kong as their desired destinations for expansion due to their potential customer base, followed by China, Indonesia and Thailand.

Respondents to the survey indicated that the lack of an adequately competent IT infrastructure was one of the key challenges hindering their overseas growth. A total of 96 per cent of Singapore respondents said they were hindered to some extent by the digital infrastructures of their most desired markets.

The report surveyed 1,150 business leaders in 13 regions, including 350 respondents from Asia Pacific. The survey was conducted online between April and May this year.

 

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Source : Channel News Asia | July 16, 2014

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About thomasdinnocenzi

Thomas D'Innocenzi is a highly accomplished, results-focused senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. thomas@novaadvisors.com In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
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