ISCA CEO, Mr Lee Fook Chiew, was quoted in The Business Times on the question of "What will it take for Singapore to continue to pull in strong investments year after year?" This is what he has to share:
With its well-established reputation as an investor-friendly global financial and business centre, Singapore has retained its top spot as the world's most competitive economy in the latest IMD World Competitiveness Ranking.
To continue to attract investments, Singapore should reinforce the strengths it has been recognised for internationally. These include having a highly-skilled and digital-ready workforce as well as a business environment that emphasises robust financial reporting and stringent corporate governance. Having an attractive corporate tax regime with tax incentives and low tax rates, and maintaining social cohesion and political stability are also important elements in Singapore’s ability to draw investments. Staying on the forefront of digital innovation and driving digital transformation in industries will further reinforce Singapore’s position as a forward-looking country that is attractive to investors.
- Lee Fook Chiew, Chief Executive Officer, Institute of Singapore Chartered Accountants (ISCA)