Singapore ranks as the sixth most straightforward place for doing business in the Asia-Pacific region, falling behind two of its Southeast Asian neighbors, Vietnam and Thailand, according to a ranking.
The city-state placed 48th among 79 locations in the 2025 Global Business Complexity Index, which measures the challenges associated with establishing and managing businesses in different regions.
The positions at the upper end of the list represent areas with the most intricate commercial settings, whereas those at the lower end indicate the simplest ones.
In the Asia-Pacific region, Singapore ranked after New Zealand (77th), Hong Kong (76th), Thailand (56th), Vietnam (54th), and Taiwan (51st).
Curated by the international professional services company TMF Group and available in its 12th version, this index evaluates 79 sites representing 94% of worldwide GDP and 95% of foreign direct investment flows, using 292 criteria that include laws, regulatory adherence, accounting principles, taxation, personnel management, and salary procedures.
The document highlighted that Singapore’s continuous funding of both tangible and cyber infrastructure—such as its harbors, airfields, and online systems—strengthens its position as an essential trading center in the area, according to
Singapore Business Review
.
The city-state experienced progress in the “human resources and payroll” category, attracting international professionals due to its simplified immigration procedures and attractive salary levels.
However, its regulatory intricacy has increased because of
stricter anti-money laundering measures
and more stringent corporate service rules.
Mark Weil, chief executive officer of TMF Group, recognized that Singapore’s regulatory systems aim to ensure openness and fiscal reliability, despite introducing additional administrative challenges for businesses.
“Organizations such as the Monetary Authority of Singapore are recognized for their effectiveness along with upholding strict criteria, particularly within financial sectors and data management,” Weil said.
The Straits Times
in a recent interview.
He pointed out that limitations on employing foreign workers in specific sectors, along with conditions for work permits, may delay the hiring process.
He further mentioned that new regulations implementing adaptable working arrangements at the end of last year also led to extra challenges for companies.
Three other
Southeast Asian economies
was also included in the rankings, with the Philippines ranked 26th, Malaysia at 27th, and Indonesia placing 14th.
Around the world, Greece became the most complicated market, influenced by continuous changes in laws concerning taxation, accounting, and personnel management. It is closely trailed by France, Mexico, and Turkey, primarily because of their highly detailed regulatory framework.