Consider the divergence in strategy across ASEAN’s major economies.
Singapore, unable to compete on labour costs and starved for land, long ago stopped trying to be a factory floor. Instead, it designed itself as the region’s command centre – hosting semiconductor headquarters, R&D hubs, commodity trading desks and wealth management towers.
Singapore generally permits 100 per cent foreign ownership across most sectors. It also has deep and liquid capital markets, and possesses an unwavering commitment to the rule of contract.
Thus, Singapore offers something Malaysia struggles to provide: predictability. Decision-makers locate there not because…
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