2023-02-21
On February 20, 2023, the Singapore Department of Statistics released the Wholesale Trade Index, 4th Quarter 2022 which revealed Singapore’s domestic wholesale sales increased 2.5% on a year-on-year basis in fourth quarter 2022. On a year-on-year basis, domestic sales of the Ship Chandlers & Bunkering and Petroleum & Petroleum Products industries rose 17.7% and 8.0% respectively as a result of higher local demand for bunker fuel and petroleum products. Similarly, the Other Wholesale Trade industry expanded by 12.4%, due partly to higher sales of agricultural and pharmaceutical products. Singapore’s foreign wholesale sales grew by 8.7% on a year-on-year basis in […]
2023-02-20
Nanyang Technological University (NTU) and the National University of Singapore (NUS) are among the world’s top 50 research organisations whose work underpins solutions created by major global innovators, says scientific intelligence firm Clarivate. The ranking is based on the number of research papers referenced in inventions by organisations in the 2023 edition of the Top 100 Global Innovators list released by the UK-based analytics firm on Thursday. FOZL Group provides one-stop corporate services to local and overseas companies, currently serving over 1,000 companies in Singapore. FOZL assist clients to register Singapore companies, and provide Accounting, Annual Return, Auditing, Tax Declaration, […]
2023-02-20
The proposed digital agreement will allow Singapore and the EFTA to cooperate more fully in the digital domain, enable trusted data flows and facilitate a secure digital environment, said a joint statement from Singapore’s Ministry of Trade and Industry, Ministry of Communications and Information and the Infocomm Media Development Authority. Singapore and four European states have started talks on a digital economy pact. The four countries – Iceland, Liechtenstein, Norway and Switzerland – form a bloc known as the European Free Trade Association (EFTA), which signed a trade pact with Singapore in 2003 that eliminated tariffs for 99.8 per […]
2023-02-16
Finance Minister Lawrence Wong announced the Budget 2023 with the theme “Moving Forward in A New Era”, highlighting measures aimed at empower the business growth, employees training, strengthen social compact and building collective resilience. In this report, we will focus on sharing the relevant content related to supporting business development. FOZL Group provides one-stop corporate services to local and overseas companies, currently serving over 1,000 companies in Singapore. FOZL assist clients to register Singapore companies, and provide Accounting, Annual Return, Auditing, Tax Declaration, Trademark Registration, applying for Investment Promotion Policies, Corporate Advisory, Private Client Consultancy, establishing Family Offices and […]
2023-02-14
On February 13, 2023, the Ministry of Trade and Industry Singapore released the full-year data for 2022, indicating a growth of 2.1% in the fourth quarter and 3.6% for the entire year. Despite the unstable global economy, the Ministry of Trade and Industry Singapore maintained their previous forecast for 2023, with an expected economic growth of 0.5% to 2.5% for the full year. In all sectors for the full year of 2022, manufacturing grew by 2.5%; the service-producing industry grew by 4.8%, with growth achieved in all service sectors, including a growth of 18.2% in the food and beverage services […]
2022-11-29
2022-11-09
Newsletter 202209 (Singapore)
2021-11-10
Newsletter_202109（Singapore）
2021-10-21
Newsletter_202108（Singapore）
2021-10-21
Newsletter_202107（Singapore）
2021-09-29
Finance and Treasury Centre (FTC) Incentive
2021-09-29
Certification Country of Origin (COO) COO is a certificate that is issued by a competent authority of the exporting country that certifies the origin of the goods. There are 2 types of certificates the Preferential Certificate of Origin (PCO) and Ordinary Certificate of Origin (OCO). In Singapore, to qualify for PCO, 40% has to be local content while to qualify for OCO, it has to be at least 25%. Some of the key requirements to apply for COO certification in Singapore are: Complete access to materials such as cultivation, farming, and use of recycled materials, etc. Local content of finished goods is at least 25%, according to the price at which […]
2021-08-25
Newsletter_202106（Singapore）