More robust laws will help, not hurt, Singapore’s business-friendly reputation

BEING a country known for its business-friendly environment has its perks but is not without peril, as recent high-profile criminal cases in Singapore have shown.

Up till 2020, Singapore placed second in the now-defunct Doing Business ranking published by the World Bank. In terms of the ease of starting a business, Singapore ranked fourth, behind overall chart-topper New Zealand, Georgia and Canada.

On one hand, this pro-business reputation has been instrumental in helping Singapore to attract a sizeable amount of investment year after year.