Factors that help Singapore maintain its business position in the region

Singapore is one of the leading business and tourism destinations, thanks to the development of science and technology and the title of the smartest city in the world.

Covid-19 over the past two years has affected the general economy - society of many countries around the world. But for Singapore, this is a challenge but also opens up opportunities for the island nation to seize and promote innovation and creativity in both technology and socio-economic life.

The year 2021 marks many outstanding achievements of the lion island nation when it was honored as the world's smartest city for the third time. In addition, this country also continuously contributes to innovative solutions in terms of technology, being one of the countries to soon reopen borders, recover the economy...

Smartest city in the world

The Smart City Index 2021 ranking has the presence of 118 cities around the world. The definition of smart city refers to cities that apply technology to enhance the benefits and reduce the disadvantages of the urbanization process. The smart city index is based on the opinions of city residents about how technology has improved their lives.

Overcoming 17 competitors, Singapore continues to be honored as the smartest city in the world with a series of achievements in applying modern technology. Other "heavyweight" candidates on the list, rising to the top this year include Zurich (Switzerland), Oslo (Norway), Taipei (Taiwan, China)...

Dr. Bruno Lanvin, Chairman of the IMD Smart City Oversight Board, said Singapore is highly regarded for its policies that apply to both city and country levels. In which, e-government services, education and the island nation's urbanization strategy are always people-centered.

According to this year's smart city index research team, survey results show that the top concern worldwide is access to affordable housing. With the impact of Covid-19, better air quality and medical services have gradually become top priorities in major cities.

During the pandemic, Singapore has achieved many achievements thanks to the application of technology in tracking, contact tracing and Covid-19 testing through applications TraceTogether, Safe Event Platform, SwabBot... Pictured are two people Singaporeans are scanning a QR code declared via the TraceTogether application at a shopping mall. Photo: Strait Times

City in the middle of nature

"City in the middle of nature" has become the general orientation of the lion island nation in recent years. The Singapore government hopes that this orientation will help create balance and harmony with the natural environment in parallel with the development of infrastructure in accordance with the policy of sustainability.

Singapore is also the first Asian country to introduce a carbon tax. In the near future, the country plans to raise the tax rate combined with a regular assessment every five years, aiming to bring net emissions to zero as soon as possible.

Regarding the definition of a "city in a garden", Singapore's Prime Minister Lee Kuan Yew announced in 1967 that the island nation would launch a plan to turn Singapore into a "city in a garden with flowers and green trees, zero waste, prevent lid, as orderly as possible".

The two-phase plan marks the beginning of Singapore's transformation from a highly polluted city to one of the world's leading "green sustainable" urban models. The amount of new trees planted in 40 years (1974-2014) increased from about 158,600 trees to 1.4 million trees.

In early February 2021, Singapore continued to announce the Green Plan 2030 (Green Plan 2030). The plan was developed by 5 ministries of Singapore with 5 key programs, including: city in the garden, green energy, green economy, resilient future and sustainable living. The "Green Plan 2030" contributes to strengthening Singapore's commitments under the United Nations' 2030 Agenda for Sustainable Development and the Paris Agreement, towards a zero-emissions economy.

Up to now, the lion island nation has been implementing a series of projects towards the goal of greening the whole city, starting with outstanding destinations, attracting many international tourists. For example, Gardens by the Bay, which owns iconic works towards nature and sustainable development such as Flower Dome, Cloud Forest and Supertrees. With Sentosa, the government has a series of plans in place to turn the island into a carbon-neutral destination by 2030.

The Southern Ridges series of hiking trails allow you to walk under the trees, observing the rich flora and fauna with the fresh, pleasant air. Photo: VisitSingapore

Singapore - Regional Financial Center

The lion island nation regularly ranks among the top countries as a global destination for transnational investment enterprises. Not only is Singapore a global hub for innovation, but Singapore also creates a vibrant ecosystem with global R&D laboratories. The ecosystem allows top Fortune 500 companies, more than 150 venture capital funds, incubators and startups to launch and grow their businesses.

The innovative modern technology platform is also an advantage that helps Singapore become the bright spot of this field in Asia. According to the "Global Innovation Index" (GII) report released in 2020, Singapore continues to lead the Asia-Pacific region for seven consecutive years, and maintains the 8th position globally.

By sector, Singapore leads the list for the innovation inputs index. The metric is measured by indicators such as the quality of human resources and research, political stability and market complexity...

Pioneering the orientation of MICE events

In addition to the above impressive figures, 2021 also marks a series of outstanding achievements when Singapore is one of the pioneers to successfully organize the MICE event in the form of a hybrid despite the pandemic with outstanding programs such as: Singapore MICE Forum x IBTM Wired, Joint Leadership Summit, WiT Experience Singapore...

With a favorable position, as one of the outstanding economic - financial centers in Southeast Asia, Singapore has cleverly devised an appropriate strategy. The island nation makes good use of the advantages of infrastructure, international standard hotel and restaurant services, and exciting nightlife activities. Singapore is now not only one of the prominent places, attracting a diverse range of international guests to travel, work and organize large-scale transnational events.

Singapore is constantly researching to find ways to organize safe events in the context of the complicated development of the Covid-19 epidemic. To support hybrid events, the country has retrofitted holograms, which support high-quality live broadcasts to increase liveliness. It is estimated that by 2023, the MICE industry in Singapore is expected to recover to pre-pandemic levels.

The studio broadcasts live with state-of-the-art technology at the Sands Expo Convention and Exhibition Center of Marina Bay Sands (MBS). Photo: Marina Bay Sands

With a series of achievements in diverse fields and industries, Singapore has increasingly consolidated its position as one of Asia's leading global business and tourism destinations, even during the pandemic and post-Covid-19 times. . With positive recovery indicators and a cautious move to open borders and "revive" tourism and services, the Singapore Government expects this country to continue to be the first choice of multi-sector businesses. global area.

Thy An

+ OTHER POST:

• Prime Minister: Export of agricultural products cannot be forever 'open path'(30.12.2021)
• Steel exports are more than 1 billion dollars, but Hoa Sen still mainly "makes money" from the domestic market(29.12.2021)
• China suspends import of Vietnamese dragon fruit for 4 weeks(29.12.2021)
• The first province to export shrimp over 1 billion USD(28.12.2021)
• Clearing up the consumption and export of agricultural products(27.12.2021)
• Exports to Eurasia have not yet taken advantage of many FTAs(26.12.2021)