KUALA LUMPUR (June 28): Singapore, behind the US, Norway and the UK, has been ranked among the top five countries in the world demonstrating high future growth potential based on macroeconomic growth indicators and citizen-centricity.
Singapore was fourth on the list with Switzerland coming in at fifth.
According to the 2022 edition of Frost & Sullivan’s Frost Radar for Economic Development, the index assesses governments for their commitment to ensuring greater investment inflows and addressing citizen-centric goals such as skill development, employability, healthcare accessibility, climate change, infrastructure development and quality of life.
Among Asian nations, Singapore was the top, leading South Korea and Japan as having strong growth potential and investment-ready.
Frost & Sullivan chairman David Frigstad said these countries present growth potential and are a few of the easiest places to conduct business worldwide, with their high ranking firmly corroborating the governments’ adherence to ensuring the well-being of citizens while deploying foreign investments lucratively.
“Each of them has demonstrated remarkable social spending, a strong focus on digital education, and a firm commitment to the environment and climate change,” he said.
Meanwhile, Frost & Sullivan global president Aroop Zutshi said the data-driven robust framework is an immensely powerful tool that helps identify unique growth opportunities and attract foreign investment.
“The Frost Radar for Economic Development also empowers chief executive officers’ growth teams to restrategise business priorities as it carefully evaluates growth opportunities in the context of geographic expansion,” he said.