Celebrating Singapore – 50 Years of Independence

December 24, 2015

In 2015, Singapore celebrated its 50th year as a lone city-state. It has only been that long since the country was able to cut its ties with its former motherland, and has since become a thriving metropolis and the centre for trade and industry in the Southeast Asian region. Singapore has consistently topped numerous rankings and lists conducted by economic authorities, making it one of the most ideal locations all over the globe, not only for businesses and companies, but also for residents and expatriates.

In celebration of its 50th year as an independent state, the Singaporean government will use an estimated $10 million for support ground-up projects, Minister for Culture, Community and Youth. More than 260 initiatives are currently supported by the SG50 Celebration Fund, however now that Singapore has approved more and more applications, they intend to support up to 330 initiatives. This means that SG50 should have more funds to keep all of these endeavours afloat. That being said, the cash injection might seem like an ideal solution to this problem.

The 330 projects come from different industries and foster the engagement of various sectors of the community and the economy. Many of them are community-based events that aim to celebrate the culture of the city-state through arts, music, food, and sports. By August of 2015, the SG50 committee assumes that it will have approved up to 400 more projects. Each of these proposals goes through a tough evaluation and assessment process before being granted support. A maximum of $ 50,000 per project is what SG50 will allow. In preparation for the expected surge of projects, the SG50 committee has set aside more than $9 million to support the upcoming projects.

Recent reviews of the events that have occurred in relation to the 50th year anniversary have all been positive. The public is eagerly awaiting any future projects the committee might have for them, and are strongly suggesting a Golden Jubilee Celebration. These positive feedbacks from the locals have given the committee a stronger motivation to continue with their projects and inject more funds into upcoming projects.

Singapore is known and regarded as one of the most prosperous countries in the Southeast Asian region, topping many surveys and polls as the best city in the area. Its ideal location has made it the perfect destination for many foreign investors, to which it owes its unrivalled success, development, and growth. The country offers numerous benefits to foreign companies, businesses, and brands such as low tax rates, access to a large pool of local multilingual talents, extensive government support, ideal location, and 100% ownership. This means multinationals don’t have to worry about splitting profits and funds with the country as they will be in complete control of their funds and profits. What’s more, Singapore offers the same advantages and benefits to foreign investors as they grant to local brands, giving international companies more reason to establish their headquarters in this thriving urban metropolis.

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