Asia has enjoyed tremendous economic growth over the years. Therefore, many investors have their sights set on some of the most powerful Asian markets including Singapore, Japan, and the Philippines.
Doing business in these countries present several benefits such as business-friendly nature, strategic location, affordability, and stable economic growth.
Here are 3 of the best countries in Asia to start a business:
1. Singapore
Singapore, an island city-state off southern Malaysia, has earned the world’s second most pro-business regime by the World Bank’s Doing Business report.
Setting up a business in Singapore has never been easier, thanks to its business-friendly laws and regulations, excellent infrastructure, stable political climate, and a strong pool of local talents, as well as a competent international workforce.
2. Japan
Four years ago, Japanese Prime Minister Shinzo Abe implemented a comprehensive package of economic policies known as Abenomics. The move was to counter two decades of economic stagnation. Since then, the East Asian nation has been a hub for foreign businesses. New foreign investments have been increasing, creating more employment opportunities.
Furthermore, Japan’s growing technological capability has attracted many foreign investors. The country boasts a highly-developed infrastructure of roads, highways, railroads, subways, airports, harbors, and telecommunications, making distribution of all types of goods and services more convenient.
3. Philippines
The Philippines, a Southeast Asian nation consists of about 7,641 islands, is one of the fastest growing economies in Asia. Because of a massive, skilled, English-speaking workforce, the country has been favored for multinational expansion. Tech giants like Google and Microsoft have opened their Philippine offices several years ago.
Moreover, the Philippines has a favorable economic setting. The Philippine government, since the early 1990s, has initiated various incentives for foreign business investors. These include a flexible tax system, income tax holidays, and special economic zones. It has also introduced non-fiscal incentives such as permanent resident status for foreign investors and their families.
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