Stability, resilience the bedrock of Singapore's future success

IN HIS address to the nation on Sunday, Singapore's Prime Minister Lee Hsien Loong said in a troubled world, investors would value the assurance of a government that plays by the rules.

This value proposition has served the city-state very well - all through the years, and more so now. Despite these challenging times of the Covid-19 pandemic, Singapore managed to secure S$13 billion worth of foreign investment in the first four months of 2020. It also saw strong foreign currency flows from a variety of sources - domestic, regional and beyond the region. Total foreign currency non-bank deposits in Singapore's banking system stood at S$781 billion at the end of April, up 20 per cent from a year ago.

The Political and Economic Risk Consultancy (PERC) has consistently rated Singapore as the most politically-stable country in Asia and the continent's least bureaucratic country. The republic also boasts of a pro-business attitude that favours innovative entrepreneurship, trade and economic activity.