SINGAPORE (Oct 14): “We have certainly received a lot of questions regarding the freedom to move money.” Clifford Ng, managing partner at Zhong Lun Law Firm in Hong Kong, whose clients are keen to shift assets to Singapore.

Singapore ousts US for top spot in competitiveness ranking

The US dropped from the top spot in the World Economic Forum’s annual competitiveness report, losing out to Singapore. Hong Kong, the Netherlands and Switzerland made up the rest of the top five, according to the WEF survey published on Oct 9. On the US, it noted growing uncertainty among business leaders and said trade openness had declined.

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