Singapore Tenders

Get access to latest Singapore tenders and bids. Find business opportunities and business intelligence from public and private procurement in Singapore. Find international bids and information about tenders, bids, procurement, RFPs, RFQs, ICBs and detailed analysis across all sectors from Singapore.

The economy of Singapore is a highly-developed free-market economy. Singapore's economy has been ranked by the World Economic Forum as the most open in the world, the 3rd-least corrupt, and the most pro-business. Singapore has low tax-rates and the second-highest per-capita GDP in the world in terms of purchasing power parity (PPP). The Asia-Pacific Economic Cooperation is headquartered in Singapore. Alongside the business-friendly reputation, state-owned enterprises play a substantial role in Singapore's economy. The sovereign wealth fund Temasek Holdings holds majority stakes in several of the nation's largest companies, such as Singapore Airlines, SingTel, ST Engineering and MediaCorp. The Singaporean economy is a major foreign direct investment outflow-financier in the world. Singapore has also benefited from the inward flow of FDI from global investors and institutions due to its highly attractive investment climate and a stable political environment in recent years. To maintain its competitive position despite rising wages, the government seeks to promote higher value-added activities in the manufacturing and services sectors. It also has opened, or is in the process of opening, the financial services, telecommunications, and power generation and retailing sectors up to foreign service providers and greater competition. The government has also attempted some measures including wage restraint measures and release of unused buildings in an effort to control rising commercial rents with the view to lowering the cost of doing business in Singapore when central business district office rents tripled in 2006.Singapore is considered a global financial hub by many leading financial analysts, economists and politicians, with Singapore banks offering world-class corporate bank account facilities. In the 2020 Global Financial Centers Index, Singapore was ranked as having the sixth most competitive financial center in the world, and fourth most competitive in Asia. Singapore is the pricing centre and leading oil trading hub in Asia. The oil industry makes up 5% of Singapore's GDP, with Singapore being one of the top three export refining centres in the world. In 2007, it exported 68.1 million tonnes of oil. The oil industry has led to the promotion of the chemical industry as well as oil and gas equipment manufacturing. Singapore has 70 per cent of the world market for both jack-up rigs and for the conversion of Floating Production Storage Offloading units. It has 20 per cent of the world market for ship repair, and in 2008 the marine and offshore industry employed almost 70,000 workers. These include multiple currencies, internet banking, telephone banking, checking accounts, savings accounts, debit and credit cards, fixed term deposits and wealth management services.The Singapore government also owns 90 percent of the country's land, as well as housing in which 80 percent of the population lives.