Singapore, a global choice for business: Experts

Chennai: “Singapore has been holding friendly business terms with many countries. However, Indians surpass others as more than 8,000 companies are India based,” said chartered accountant R Narayanamohan at an event held at IIT Madras recently.

Organised by Rise (Yezhumin) Organisation along with Global Alliance of Tamil Auditors and Finance Professionals (GA-TAFP), Tamilnadu and Pondicherry chartered accountants Association (TAPCAA) and Confederation of Tamil Agriculture Commerce, Industry and Services (CTACIS) on 28 May, the event saw participation of over 150 chartered accountants across Tamilnadu.

Speaker during the event, R Narayanamohan explained reasons why Singapore is best suited for trade on the grounds of competency, authority and credibility. “The open economy has helped with free money flow,” he said. “This has helped over 1.83 lakh millionaires here. Also, Singapore boasts of the world’s busiest port as it ships over 33.35 million containers in a year, and its airport is ranked among the top in the world.”

“Singapore’s economy tops the list for developing human capital out of 157 economies. Singaporean citizens have visa-free or visa on arrival access to 189 countries and territories, making the nation’s passport first in terms of number of countries a passport holder can visit without pre-arrival visa arrangements. Singapore’s GDP per capita income is ranked third in the world. All these accreditation have put Singapore first in global choice for business operation,” he further noted.

During his speech, Chattered accountant, P R Aruloli, said, “When a small group work towards a vision, it will turn into belief of a community, that is, the community of accountants, auditors, practitioner of accounting and auditing services. I personally believe that a single auditor is capable of creating an entrepreneur within a month, and if auditors join hands to make entrepreneurs, the results are far from imagination. It is high time that we work together and bring forth many talented businessmen from our motherland, and that is the purpose of these organizations.”

NT Bureau