Report by the WTO Secretariat

Singapore remains one of the most market-oriented and open economies in the world and is also considered the easiest country in which to do business. Singapore is facing a number of new challenges, as well as opportunities, due to the global financial crisis and its competitiveness is being tested by low-cost economies particularly in Asia. In response, Singapore has launched a productivity drive to boost GDP growth and facilitate its transformation into a high-tech economy.