1. What makes your country attractive to investors?
Singapore stands out in Asia for its integrity, reliability and strong corporate governance. Investors looking to capture a piece of Asia’s growth should be comfortable with the transparent legal system, one of the best regulated banking sectors in the world, a low-tax regime, respect for intellectual property, a well-trained workforce and an excellent education system. Very few countries can match our up-to-date, wired infrastructure. Besides having abundant investment incentives, it is a safe, attractive place in which to live.
2. What are the economic prospects for your country over the next three to five years?
Despite the bilateral FTAs with the US, Japan and India, the global economic backdrop will not be as helpful as at present. Nonetheless, a major construction boom and lower income tax rates will support domestic spending so GDP growth should average at least 4%-5% over the period.
3. How do you foresee the financial sector in your country changing?
Singapore will become a leading centre for wealth and asset management services in Asia, given its favourable tax rates and trusted legal system. Long considered a haven for savvy forex traders, it will become a centre for specialised derivatives and risk management. Offshore financial activities, the Asian Currency Unit (ACU) portion of the sector, will grow more quickly than traditional, domestic businesses.
4. What role will your bank play in your country’s future development?
Singapore sits at the crossroads of India, China and the Middle East. DBS, as the largest bank in Singapore and the fifth largest in Hong Kong, should benefit as Singapore and the region prosper. We are already in the lead in intermediating Asian capital flows, matching Asian issuers with new Asian investors, including mass market customers found in our branches and even on our ATM network. For example, we launched the REIT business in Singapore and have been at the forefront in channelling cross-border capital to issuers in Hong Kong, Thailand and Singapore.
