Global Innovation Index Ranking: Singapore ranked fourth-FOZL - International Accounting & Advisory Firm

Language
- 简体中文
- English

FOZL Knowledge Hub

Everything you need to know about setting up and succeeding in Singapore

Singapore's advantages

Company Registration and Services

Home

Global Innovation Index Ranking: Singapore ranked fourth

On September 26, 2024, the World Intellectual Property Organization (WIPO) released the 2024 Global Innovation Index (GII) ranking fourth globally and first in Asia . The Global Innovation Index primarily uses 78 indicators in two aspects: innovation input and innovation output, to assess 133 economies globally. Singapore ranked first in 14 assessment indicators, making it the economy with the most top rankings.

Image source: Intellectual Property Office of Singapore

Innovation input covers the five key elements that promote innovation activities in an economy: institutions, human capital and research, infrastructure, market sophistication, and business sophistication. Innovation output reflects the actual performance of an economy's innovation activities, divided into knowledge and technology output, and creative output.

In terms of innovation input Singapore consistently ranks first globally, particularly excelling in institutional aspects, such as ranking first globally in institutional environment, regulatory environment, and business environment. Indicators such as business operating stability, government performance, regulatory quality, and business policy stability received full marks.

In In terms of innovation output Singapore ranks 11th globally. Indicators such as unicorn company valuations, high-tech manufacturing, and cultural and creative services exports performed exceptionally well.

Lee Lina, CEO of the Intellectual Property Office of Singapore said, "We are encouraged by Singapore's steady progress as a global innovation hub. This represents the collective efforts of government, research, and businesses over many years in supporting innovation development."

FOZL assists local and overseas clients in Singapore with Singapore company registration and provides clients with accounting ， annual audit ， audit ， tax filing ， trademark registration ， business consulting ， family office establishment services.

Currently, the FOZL Group has subsidiaries in Malaysia, China, and Germany, supporting businesses in their global development. If you would like to learn more, please contact us at FOZL, and we will be happy to serve you!

Singapore ranks fourth among the global financial centers.

World Bank Ease of Doing Business Report: Singapore Ranks First in Operational Efficiency

Relevant Knowledge

【Licensing】Food Import Licence

All companies wishing to import, export, or trans-ship food products must be registered and licensed by the Singapore Food Authority in accordance with the relevant laws of Singapore.

【Licensing】Custom Registration

Companies registered in Singapore can directly engage in international trade. If a company intends to import products into Singapore, the goods must undergo customs clearance upon arrival. This requires the company to submit an application to Singapore Customs in advance and obtain the necessary registration or permits. Once the customs registration is approved, logistics companies or customs brokers can declare the goods to Singapore Customs on behalf of your company, pay Goods and Services Tax (GST), and import the goods into Singapore.

【Licensing】13R & 13X

For investments in Asia and the Pacific, Singapore is an important base for family offices, private equity, real estate, and hedge fund managers.

【Licensing】Ship Registration

The Singapore ship registration system is administered by the Maritime and Port Authority of Singapore (MPA). The following outlines the eligibility, procedures, and documentation requirements for registering a vessel in Singapore.

【Licensing】Fund Management Licence