Singapore is the world's freest economy: Heritage Foundation
Singapore's economy has been ranked the freest in the world this year in the Heritage Foundation's 2021 Index of Economic Freedom, the second year in a row it topped the list.
Singapore (VNA) - Singapore's economy has been ranked thefreest in the world this year in the Heritage Foundation's 2021 Index ofEconomic Freedom, the second year in a row it toppedthe list.
The city-statescored 89.7 points, with its overall score having increased by 0.3 points from2020, primarily because of an improvement in points gained for governmentspending, the think-tank said on March 4.
Singapore's scoreplaced it far ahead of both the regional average for 40 countries in the AsiaPacific (60.2) and the world average (61.6).
It was followed in the rankings by New Zealand, Australia,Switzerland and Ireland, in that order, with scores ranging from 83.9 (NewZealand) to 81.4 (Ireland).
The US ranked 20thwith a score of 74.8, and Germany was 29th with a score of 72.5. Thailand tookthe 42nd spot with a score of 69.7, and China was No. 107 with a score of 58.4.
Hong Kong, whichhad topped the list for 25 of the last 26 years, was left out of this year'sIndex, as it has come under the direct control of Beijing, the HeritageFoundation said.
The Index ranks 12 indicators under four categories: rule of law,size of government, regulatory efficiency, and open markets./.
Singapore will spend around 24 billion SGD (over 18 billion USD) over the next three years to help firms and workers adapt to the changing global landscape partly caused by the COVID-19 pandemic as part of its 80.8 billion USD budget plan for 2021 announced by Deputy Prime Minister Heng Swee Keat on February 16.
Singapore’s overall unemployment rate continued to fall in January thanks to economic stabilisation, according to latest figures released by the Ministry of Manpower (MOM) on March 3.
Digital wallets are forecast to overtake credit cards to become the most popular online payment method in Singapore by 2024, amidst the e-commerce boom fueled by the COVID-19 pandemic, according to the latest global payments report by Worldpay from FIS.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
Singapore's Marina Bay (Photo: CNN) 
