Some companies use its location to develop their business across Asia and towards China. The high level of foreign involvement in Singapore is due both to its political stability and to the simple process structures and tax system.
The global financial center is also a hub for new technologies, with fintech increasing in importance. This is also the reason for the trend towards services in the cybersecurity sector. Swiss companies benefit from the fact that the FINMA has developed a close cooperation with the MAS in the area of fintech in order to support innovative (start-up) companies.
The city-state is also part of the ASEAN economic bloc. This also includes Indonesia, the Philippines, Thailand, Brunei, Cambodia, Laos, Myanmar, Vietnam and Malaysia. There is no comparable economic grouping anywhere else on earth. It exceeds even the EU in size and potential for growth.
