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

IMD Smart City Index: Singapore is the world's smartest city

IMD Smart City Index: Singapore is the world's smartest city
IMD Smart City Index: Singapore is the world's smartest city

The inaugural IMD Smart City Index reveals Singapore as the world's smartest city, according to its residents.

 

The index, released by the IMD Business School and the Singapore University of Technology and Design, ranks cities based on their level of 'smartness,' defined in this context as urban environments that utilize technology to enhance benefits and reduce drawbacks.

 

 

The survey's findings are based on the perceptions of city residents, with 120 residents from each city surveyed on their views on two main pillars: infrastructure, referring to the city's existing infrastructure; and technology, referring to the technological provisions and services available to residents.

Under each pillar, the survey also looked at categories of health and safety, mobility, activities, opportunities, and governance—each further broken down into smaller indicators.

Singapore performed well overall, including on indicators of public safety, lifelong learning opportunities offered by local institutions, green spaces, and online access to job listings.

“Singapore’s top ranking is due to its citizens reporting that Singapore excels in providing high-quality infrastructure in the areas we study, while simultaneously employing technology in efficient ways to improve the lives of Singaporeans,” said Mr. Christos Cabolis, chief economist at IMD Business School’s Competitiveness Center, to The Straits Times.

 

 

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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

Under the Singapore Securities and Futures Act, if a company wishes to carry out (regulated) fund management services in Singapore in either of the two forms mentioned below, then the company must apply for a fund management company licence to the Monetary Authority of Singapore (MAS) or the company must hold a capital markets licence.

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