Dear Valued Customers,
Welcome to our E-Newsletter November 2019
Singapore is now the World’s Most Competitive Economy and Smartest City. Coming up tops in global rankings once again highlights Singapore’s competitiveness and readiness as a global economic hub, while benchmarking the city-state as the most favourable destination in the world to do business.
Singapore Takes Top Spot as World’s Most Competitive Economy
According to the 2019 Global Competitiveness Index by the World Economic Forum (“WEF”), Singapore is the world’s most competitive economy. This puts Singapore ahead of traditional economic powerhouses such as 2018’s champion – the United States, and financial centres in Hong Kong, Netherlands, Switzerland and Japan. Hailed as the global economy compass, the 2019 Global Competitiveness Index gauges a country’s competitiveness through a complete spectrum of business-related indicators, such as macroeconomic stability, skills, labour market and business dynamism.
Singapore Tops Inaugural Smart City Index
The inaugural IMD Smart City Index published by Swiss business school IMD and the Singapore University of Technology and Design has named Singapore as the world’s smartest city. The citizen-centric global index takes into account the citizens’ perceptions to determine the effectiveness of smart-city implementation in the participating countries. Singapore excelled in categories such as public safety, lifelong learning opportunities provided by local academic institutions, green spaces, as well as the online accessibility to job openings.
Singapore at the Forefront of ASEAN’s Industry 4.0 Revolution
Being the world’s Most Competitive Economy, Singapore is at the forefront of ASEAN’s Industry 4.0 Revolution. While Singapore’s manufacturing industry has embraced the Industry 4.0 Revolution with strategic initiatives and smart manufacturing solutions, the nation-state is enhancing its competitiveness on the global stage. Singapore strives to not only support industry transformation, but contribute thought leadership and share best practices with the rest of ASEAN.
3E Accounting Signs MOU to Work With NTUC Union
The emergence of Industry 4.0 and the coming wave of digital disruption means that the traditional business model needs to transform to keep up with global business trends. Recognising the urgency of business transformation, 3E Accounting signed the Memorandum of Understanding (“MOU”) with The Singapore Manual & Mercantile Workers’ Union, an affiliate union of NTUC. Under the MOU, 3E Accounting employees will become part of the national labour movement. This will enable us to work closely with the union and SkillsFuture Singapore to identify skills opportunities and, at the same time, to upskill our employees to meet the challenges of Industry 4.0 and achieve Singapore’s vision of a Smart Nation.
We wish all our clients every business success as we continue to work and grow together in the World’s Most Competitive Economy and the World’s Smartest City.
Lawrence Chai
Founder, 3E Accounting Group
Read More in our E-Newsletter November 2019.
