Foreign Direct Investment FDI by sector – Singapore was the fourth largest recipient of Foreign Direct Investment (FDI) inflows in the world (2020) at US$ 2,141.8 billion with financial and insurance activities being the largest recipient. This was an increase of 11.3% versus 2019. The chart below describes the way the FDI has been divided across… Continue reading Foreign Direct Investment
Taxation Structure Corporate Income Tax (CIT) – The headline tax rate for foreign-sourced income is at a minimum of 15%, the company will have to pay the higher at the tax rate between Singapore and its resident country. Given that Singapore’s resident CIT of 17% is lower than most countries on a global scale, and is… Continue reading Taxation Structure
Ease of Doing Business and Corruption Ease of Doing Business Ranking – Singapore’s global rank of 2nd in its ease of doing business is a clear indicator of Singapore’s positive business environment. Singapore has maintained a top 3 ranking consecutively for the past 13 years, which highlights its strong and stable capabilities in terms of enforcing contracts,… Continue reading Ease of Doing Business
Government Structure and Society Singapore is a sovereign republic that applies a presidential system of government. The state’s political structure is modelled after the Westminster system which separates the executive, legislative and judiciary powers. The judiciary’s function is to independently administer justice and is protected by the Constitution. It comprises of the Supreme Court, State Courts and Family… Continue reading Government & Society
Demographic Advantage Singapore is the 20th smallest country in the world and has a population of 5.7 million people resulting in the 3rd highest population density in the world. Though the declining growth rate is at 0.47%, Singapore is named the most expensive city for five years in a row and plans to accommodate this growth through timely land reclamation. Due to the small… Continue reading Demographic Advantage
Historical Background Singapore has a long history of being colonized by the British. Though it did not play a major role in World War I, it was militarized under the Allied Forces in World War II. As a nation with flourishing trade, natural resources and ability to satisfy military and industry needs, Singapore became a… Continue reading Historical Background
Business Etiquette Greetings Meetings (beginning, during, ending) Business cards Closing Attire Entertaining Business Etiquette is a vital part of all interpersonal transactions and while doing business in Vietnam, one must respect and observe Vietnamese culture. As one of the oldest cultures in Southeast Asia, Vietnam does have several traditions regarding their mannerisms with subtle differences… Continue reading Business Etiquette
Digital Economy Internet Penetration Rate Internet Economy Size Growth over time and projected growth Major players in the digital space Vietnam’s presence in the global economy is highly dependent on the way it responds to the age of digitization. The government of Vietnam has recognized this need and has been making active efforts to improve… Continue reading Digital Economy
Foreign Direct Investment FDI by sector FDI growth Special Economic Zones FDI growth – Foreign direct investment (FDI) in Vietnam stood at US$19.74 billion for the year 2021 with the manufacturing and services sectors gaining the highest. As showcased in the figure below, FDI in the country has more than doubled since 2009, and this stands as a testament… Continue reading Foreign Direct Investment
Taxation Structure The standard Corporate Income Tax (CIT) rate in Vietnam stands at 20%. Besides the already low tax rate, Vietnam also has preferential tax rates of 10%, 15% and 17% based on the industry and the size of business. The chart below provides a comparative view of the standard CIT Rates of 7 major ASEAN economies, and in doing… Continue reading Taxation Structure
