According to the Competitive Industrial Performance Index published by UNIDO， in the last decade or so, the world’s science and technology manufacturing industry has been generally concentrated in Europe, Asia and the United States, with China and East Asia’s science and technology manufacturing industry slowly entering a plateau, the United States declining, and Europe still on the rise.
The value of technology manufacturing growth in recent years has also been almost entirely in the U.S., Asia, Europe, and Asian growth in which the proportion is increasingly high, 2023Q1 half of the global value of technology manufacturing growth are in Asia.
Look at Asia alone, you can see that East Asia, that is, China, Japan and South Korea with Figure 1 reflects the same basic smooth, Southeast Asia has a high rate of growth, you can think of Asia’s science and technology manufacturing industry growth is mainly occurring in Southeast Asia, South Asia (India) overall rankings lower, there is a rise, but not very exaggerated.
Global merchandise trade distribution is basically similar to the manufacturing place strength pattern, by Asia, Europe, the United States, can see Singapore in 2020 for the first time crowded out of the United Kingdom to become the top ten trade exports, presumably thanks to the development of such manufacturing industry in Southeast Asia, and Southeast Asia’s trade is like China a lot of times import and export will be through the Hong Kong transit, as in the Singapore trade transit.
Set up a company in Singapore, the main technology manufacturing industry is now expanding at a high speed in Southeast Asia, along with a fast-growing market to seek common development is certainly less difficult than in the already mature and stable market to expand, the expansion of the market brings more opportunities, as the center of Southeast Asian trade in Singapore has a company main body may be more exposed to grasp these opportunities, Singapore is also one of the ASEAN members. Singapore is also one of the members of ASEAN, you can avoid a lot of trade barriers and tariffs in the trade process.
At the same time, Singapore as a veteran international financial center, the main body of the company there to open an account can bring higher international credibility, easy flow of funds, Singapore’s lower taxes can also create more profit margins.
Share to your social below!