Singapore has been ranked the third safest country in the Asia Pacific to invest in, behind Australia and Hong Kong, according to Dun & Bradstreet’s Global Risk Indicator (GRI).
The report revealed that Singapore’s ranking was boosted by its stable risk profile and low degree of economic uncertainty.
“Hong Kong and Singapore are ranked second and third respectively in the Asia Pacific region; although they are both also on a deteriorating trend,” noted the report.
“Hong Kong’s banking sector is suffering from a spate of alleged malpractices and political scandals, while Singapore is experiencing inflationary pressures and slowing economic growth.”
Meanwhile, Australia is considered one of the safest countries in the world to invest due to the relatively mild economic slowdown that it experienced during the global financial crisis.
The report placed Australia in the top four countries, with a ranking in line with Canada, Norway and Switzerland.
“The world is continuing to change at a rapid pace and although Australia is faring well compared to other nations we cannot afford to stand still,” said Christine Christian, Chief Executive of D&B.
The GRI report provides a complex assessment on the economic, political, commercial and external risk of conducting business in 131 countries around the world.