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6-5. Singapore has a highly developed trade-oriented market economy and its economy has been ranked as...

6-5. Singapore has a highly developed trade-oriented market economy and its economy has been ranked as the most open in the world. What has been the government's role in achiev ing this feat?

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Answer #1

Singapore has been ranked as the 2nd most economy freest country in the world as per the 2014 index.

It has come with some of the effective following measures to be the Asia's most business friendly country:

1. Least corrupt, most pro business.

2. Highly attractive investment climate and stable political government to attract FDI's

3. High level of trade freedom and regulatory efficiency.

4. Highly trade oriented market economy.

5. Government special subsidies and schemes for foreign players to enter into the country's economy.

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