SINGAPORE, Dec. 31 (Xinhua) -- Chinese enterprises are doubling down on Singapore, drawn by its robust business environment and strategic role as a gateway to Southeast Asia, said a report released Monday by the China Enterprises Association (Singapore).
A total of 67 percent of surveyed companies rated the business climate in Singapore as "excellent," and 33 percent deemed it "good," said the report published during the Fifth China-Singapore Economic and Trade Cooperation Forum.
Key attractions include Singapore's efficient government services, tax system, and ease of international trade. These factors have fueled optimism, with 60 percent of respondents planning to expand their investments locally and regionally. Notably, 74 percent expect continued growth in investments in Singapore.
The city-state's strategic location stands out, with 91 percent of firms recognizing its value in accessing Southeast Asian markets.
Chinese enterprises also contribute significantly to the local economy, with 54 percent reporting that Singaporeans make up over 60 percent of their workforce. Meanwhile, 58 percent highlighted contributions to innovations in technology and services, while 40 percent pointed to green development.
Regarding challenges, intensifying market competition and talent shortages were cited by 86 percent and 72 percent of respondents, respectively. Many companies called for greater support from the government and the association to address these issues.
The findings are based on a mid-2024 survey involving over 100 Chinese enterprises operating across various sectors in Singapore.■