In addition to a robust economy, Singapore’s sustainable environment is another leading factor that has attracted numerous investors. Most cities in the world have failed to address environmental issues brought about by urbanization. Towns or urban areas cover over 2% of the Earth’s surface; they are responsible for about 80% of the greenhouse gases emitted while using up almost 75% of nature’s resources.
However, a host of countries in Southeast Asia are leading the way to change this contrary notion about cities and urban regions. Research conducted by several world-leading environmental bodies and institutions determined that Singapore is indeed one of the most environmentally sustainable nations.
Singapore’s first prime minister kickstarted the dream of making Singapore a green city. His main agenda was to make Singapore stand out from the rest of the Asian countries and also attract investors from all over the world. The first step undertaken to achieve this dream was the eradication of the houseboats and overcrowded slums along the banks of Singapore River.
Singapore is offering entrepreneurs moving to the country a platform to incorporate their businesses in Singapore. This allows them to run their firms within the stipulated terms while also receive the government’s backing.
On the world’s Environmental Performance Ranking, Yale University and the U.N place Singapore at seventeenth globally and first position in Asia. Contrary to popular belief, Singapore’s efforts and strict green technology guidelines, which were set and backed up by the government, helped in making it an eco-friendly city.
So how exactly does Singapore afford to provide suitable surroundings perfect for its citizens and also attract investors and entrepreneurs from overseas?
As discussed before, adoption of green technology is one of the leading things that has made Singapore an eco-friendly city. Singapore has been able to morph into a modernized city-state without having a negative impact on nature.
The Singapore government’s Cleantech division, which is a subsidiary of the board tasked with economic growth, has offered continued support to companies in the clean technology business. This has led to the business sector growing tremendously in areas such as renewable energy, water conservation, green buildings, green cleaning products etc.
Growing ICT Center
Companies such as Hewlett Packard (HP) and International Business Machines Corporation have partnered with the Ministry of Environment and Water Resources. The main idea behind these partnerships is to ensure that Singapore’s ICT industry thrives. HP, for example, has been tasked with designing and manufacturing energy efficient systems that will cut power costs while still providing a working platform for businesses.
Low Energy Costs and Environmental Remedies
Accommodating over 7000 companies from different nations across the globe is no mean feat. As such, Singapore’s government and other agencies know that a green environment is not the only requirement to attract more investors.
Through an alliance known as the Singapore Sustainability Alliance, an umbrella consisting of government groups, non-governmental organizations, and teaching institutions, Singapore has been able to come up with policies that create a sustainable environment. Other than this, the alliance has overseen the adoption of systems that include proper water use, renewable energy, energy efficiency, waste management, etc. which have significantly improved business growth.