Sg businesses most optimistic about impact of globalisation
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By Jonathan Peeris | Posted: 30 November 2010 2212 hrs
SINGAPORE : Businesses in Singapore are the most optimistic about the impact of globalisation.
That is according to a global survey conducted by the Institute of Chartered Accountants in England and Wales.
Over 1,700 members of the organisation from across the world were surveyed for their opinions on the opportunities and challenges that face businesses.
Besides being most positive about globalisation, Singapore and Hong Kong businesses were also more likely to perceive their domestic regulatory and taxation environment to be business friendly.
That is according to 97 per cent of businesses in Singapore and 91 per cent of businesses in Hong Kong.
Only 2 per cent of businesses in Singapore considered the domestic environment to be unfriendly to businesses, compared with 20 per cent in Malaysia and 34 per cent in Australasia.
At least 40 per cent of businesses in the UK, the EU and Africa believe they operate in a business-unfriendly environment.
Generally, businesses around the world are expecting growth over the next year. Growth expectations in Hong Kong, Malaysia and Singapore have increased since 2009 but remain below levels seen in 2008.
The survey also found that China remains highly attractive to businesses across the world. Most Asia-Pacific businesses are looking to either enter China or expand their market share in the country.
- CNA/ms -
cheaper FTs.
