WORLD HISTORY

Detailed explanation-1: -Being well-connected globally is also the reason why Singapore is a world-leading hub for transshipment. Transshipment is when ships carrying goods stop at one distribution port (such as Singapore) to unload goods going to other ports, before loading goods to be transported to their destination port.

Detailed explanation-2: -Least risky countries for investment In just five decades, Singapore has emerged as one of the world’s most progressive economies, actively evolving our pro-business policies to keep pace with global developments. Our gross domestic product (GDP) per capita is the highest in the region.

Detailed explanation-3: -Singapore is located at the heart of Southeast Asia and provides excellent global connectivity to serve the fast-growing markets of the Asia-Pacific region and beyond. Singapore has over 25 FTAs which provide access to the markets of the partner countries.

Detailed explanation-4: -It has been ranked as the top maritime capital of the world, since 2015. Currently the world’s second-busiest port in terms of total shipping tonnage, it also transships a fifth of the world’s shipping containers, half of the world’s annual supply of crude oil, and is the world’s busiest transshipment port.

Detailed explanation-5: -The country provides one of the world’s most business-friendly regulatory environment for local entrepreneurs and is ranked among the world’s most competitive economies. In the decades after independence, Singapore rapidly developed from a low-income country to a high-income country.