Singapore's stockmarket in a 'secular growth phase'

For a compelling combination of strong growth and low risk, look to Singapore, says Martin Spring. Find out how you can gain exposure to the island state as its efforts to boost growth begin to bear fruit.

For a compelling combination of strong growth and low risk, look to Singapore, says Martin Spring in his On Target newsletter. The island state is aiming to become a "global city" amid an ongoing programme to bolster its international appeal. Having previously discouraged immigration, it now wants to boost its population from 4.35 million to 5.5 million. Immigration is already doubling the island's population-growth rate and boosting property prices. The corporate-tax rate will now be cut further, while the transparent legal system and high quality of life are appealing to highly qualified professionals and entrepreneurs.

Singapore is also aiming to challenge Switzerland as a private-banking centre for the wealthy. Non-residents are exempt from capital gains or income tax and while Switzerland is "giving ground under pressure to the predation of Europe's tax commissars", Singapore resists international "intrusions".

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