Singapore’s Position in the Asia Manufacturing Index

Singapore has also come out as a leading performer as it has been placed at the fourth position in Asia Manufacturing Index highlighting its position as a high end manufacturing and innovation center in Asia. Some of the aspects on which the economies are measured by the index include institutional quality, infrastructure, trade openness, tax policy, innovation, and depth in manufacturing. Singapore has high regulatory environment which is combined with global connectivity which is still compensating the structural constraints.

Why Singapore Ranks Fourth in the Asia Manufacturing Index

The report identifies Singapore to be top in governance, ease of doing business, efficiency in doing logistics and ability to innovate. Robust infrastructure and high protection of intellectual property are synonymous with advanced manufacturing industry that is electronics, semiconductors, and precision manufacturing. Nevertheless, expenses of labor are greater and the domestic manufacturing base is comparatively small, which restricts the scale of expansion. Nevertheless, the emphasis of Singapore on high-value manufacturing, which has a component of strong technology, continues to make it competitive with bigger economic blocs in Asia.