A recent study carried out by Cushman & Wakefield places Singapore among the preferred destination for businesses to operate in Southeast Asia. More precisely, Singapore is one of the top 10 locations for data centers, according to the survey. Singapore obtained 84.5 points out of the total 100 granted by the company. Foreign enterprisers who want to open a company in Singapore and need assistance can rely on our company formation services in Singapore.
The 84.5 points obtained by Singapore placed the city-state ahead of other important business hubs in the region, among the best-known ones being Japan, South Korea and Hong Kong.
Among the factors considered in the survey are the ease of doing business, the Internet bandwidth, natural disaster and energy and political stability. Out of these, Singapore ranked best in term of Internet infrastructure, the connectivity to other Asian markets, the political stability and the favorable business conditions for entrepreneurs who open companies here.
Foreign investors who want to set up businesses in the information technology industry have plenty of choices. However, software companies have started to gain more visibility which is one of the main reason for Singapore to become such an important data center in the Asia-Pacific region. Our Singapore company formation specialists can help those who want to open a company in Singapore in the software sector.
The good news does not stop with this report, as the end of the year is expected to bring a total income of 1,2 billion SGD from data centers alone, 9% higher than the end of the previous year. Also, data center supply in Singapore is predicted to grow between 15 to 18% in 2018.
The data center market in the city-state will probably reach 1,6 billion SGD in 2020, according to another report which indicates cloud computing, big data analytics and data recovery as the main growth factors.
Singapore IT companies storing data are also expected to benefit from the new Belt and Road project developed in collaboration with China.
If you want to open a company in Singapore in the IT field, please feel free to contact our company registration agents.