Singapore recently ranked highest as the leading technology
Singapore recently ranked highest as the leading technology hub of the future according to multi-national professional services network KPMG. In their latest 2020 report, 7 out of the top 10 chosen tech hubs were in Asian destinations, with Singapore technology ranking highest.
Singapore was built on the British colonial rule in Singapore. Since then, the nation has maintained its high levels of efficiency and growth. The Republic of Singapore officially became a sovereign state in 1965 and was able to incorporate its own governmental system and secular constitution through the Westminster System and Decree of Independence in 1968. Now as an independent nation, Singapore continues to keep its position as a highly competitive and technologically advanced business hub.
KPMG believes that in an increasingly global economy, where technology is deeply embedded in almost every facet of life, companies, which do not adapt quickly enough, will be left behind. However, Singapore was lauded for its unique value proposition, in areas such as scale, regulation, connectivity, and government, which has enabled it to build a strong ecosystem and attract strong talent. Nano-science Center Singapore Asia’s most advanced chip manufacturing and research facility are located in Singapore, is a former World War II munitions factory, Kranji. Singapore is also the home of IBM’s R&D labs. Other technologies researched at IBM Research include bio-prospecting, small molecules, materials science, genome sequencing, and drone technology.
What is Singapore’s ranking?
In the same report, Singapore was ranked 3rd out of the top 10 technology hubs to support innovation and technology. Their Ranking on Global Innovation Index Singapore’s ranking was placed on 4th out of 23, improving its position from the 18th place a year before. How Singapore Won the Top Spot The key factors that contributed to Singapore winning the top spot include its location and its commitment to research and development. As mentioned in a UN report, Singapore has a good level of talent and good infrastructure in terms of both, financial and technological. However, Singapore focuses on the top 10 technological hubs of the future and measures the innovation intensity index against the top 100 economies around the world. Can Singapore Keep Winning?
What does the future hold for Singapore?
Aside from a strong tech ecosystem, the country also has world-class logistics and is well-positioned for supply chain management. Most notable is the presence of SCMP, one of the country’s main dailies, a technology-heavy publication that has an online community of over 250,000 followers. In terms of commercial space, Singapore has some of the best equipped in the world. All commercial space for rent in Singapore comes equipped with WiFi and a five-star concierge service that is a fraction of the cost of the New York City equivalents.
Singapore has a big role to play in regional peace and prosperity. This role will be showcased even more in the near future. With key issues in the region such as piracy, illegal immigration, global terrorism, and cybersecurity, we need to rely on smart solutions to secure the international maritime trade and ensure the safety and security of Singaporeans and of other nations. It is therefore key that Singapore capitalizes on its many natural resources and endow them with the appropriate infrastructure.