Singapore is right at the “cutting edge of urban development”, the UK’s Foreign and Commonwealth Office (FCO) has said as part of its recent Smart Cities, Smarter Living trade mission.
So progressive is it that it intends to move its port – which is the second busiest in the world after Shanghai – ten kilometres to the west of the country to make space for prime real estate.
This is a strategic move as the development of prime property will take place next to Singapore’s central business district, the FCO explained:
“This will offer manifold opportunities which we will help UK companies to seize, including in the built environment sector which this mission is showcasing.”
The city-state was also described as being reputable in its ability to continuously perform well in areas of transparency and applauded for its ability to offer a competitive environment that is conducive to good business.
Singapore is making a concerted effort to attract foreign businesses and high net worth international movers to relocate to the country in a bid to further boost its growing economy. In return, it offers an enviable quality of life.
“It is keen to keep its air and streets clean, its crime rates low, its housing modern and appealing and the quality of its education and health systems first rate,” the FCO stated.
The latter is something Singapore invests in heavily, spending on average £2.3 billion – 3.7 per cent of GDP – on healthcare every year.
Smart Cities, Smarter Living is a trade mission that is part of an ongoing assignment by the FCO to help UK businesses discover new markets in Asia – the delegation also visited Malaysia and the Philippines.
It currently has a particular focus on introducing British companies to the built environment, energy, health and digital sectors, allowing them to establish or develop their own goods and services in the country.
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