The ICT in Singapore - Industry Analysis

 

Singapore, which is the capital of the Republic of Singapore, has been named multiple times one of the top smart cities in Asia and in the world.

It benefited from the technological progress to become a futuristic city, embracing new technologies like self-driving cars, IoT (internet of things), cashless payments and many more.

A vast number of local and international tech corporations like Razer, Sea, Grab, Carro, Nium, Appl, IBM, Amazon and many more have their headquarters or offices in Singapore.

According to the Global Financial Centre Index 2022, Singapore is the 3rd global financial center (only behind NYC and London), but it has become an emerging IT hub, attracting local and global tech companies and startups.

It’s been called the Silicon Valley of Asia, due to its vibrant tech scene, modern IT infrastructure, strong support from the government for the IT sector, laws that protect the Intellectual Property and a large tech talent pool.

In recent years, Singapore’s (EDB) Economic Development Board attracted about S$17B in foreign investments (based on data presented by Hawksford) and introduced an immigration visa to attract global tech professionals and stay competitive in the IT field. 

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