Singapore Continues To Remain One Of The Least Corrupt Countries In The World

As per the latest release of the Corruption Perception Index

, Singapore scored 9.2 points out of a maximum of 10 points. This makes Singapore the least corrupt country in entire Asia and the fifth least corrupt nation in the world. The Corruption Perception Index is released by Transparency International and is widely regarded as the premier corruption index in the world. Last year Singapore had a score of 9.3 and was on the top of the list for worldwide countries.

Singapores corruption free business environment remains one of the countrys most attractive qualities. At a time when a lot of companies and entrepreneurs are looking at investing in various Asian countries, corruption in many of the nations in the continent acts as a barrier for more investment. However, this is not the case in Singapore and foreigners can freely invest in the country without worrying about undue hassles from government related agencies. As a matter of fact, there is no bureaucracy or red tape as well in Singapore and hence projects that are proposed and passed by the concerned authorities can start work immediately. Project completion times in Singapore are always one of the best as there is no interference from government agencies.

Many analysts believe that only Hong Kong and Japan can come close to Singapore when it comes to a corruption free government or society. Other emerging nations across Asia are urged to learn from the Singapore example to fast-track their own economic growth. There was a time when Singapore was just a tiny fishing village. That was of course a few decades ago and today thanks to great vision and execution of plans, Singapore is an economic powerhouse. Home to some of the most innovative entrepreneurs from all over the world, Singapore has completely transformed itself into one of the most preferred destinations by global entrepreneurs. Multinational companies want to have a strong presence in the country and many are even considering locating their regional headquarters in Singapore.

Obviously there are a lot of advantages of doing business in Singapore that continually attract foreign business owners. However, the fact that Singapore is a corruption free society is the icing on the cake for many and without this; all of the other business advantages would turn to nothing for foreign companies. Singapore aims to remain the least corrupt nation in Asia and is targeting being the least corrupt nation in the world in the future.

by: Bryan Wong

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