In a dire global climate of rising unemployment and job cuts, green technologies and manufacturing in Singapore might just prove to be a sunrise industry in an era where many suns are setting. Rikvin offers advice for foreign individuals and companies interested in starting green businesses in this environment-friendly country.
Singapore’s Minister for the Environment and Water Resources Dr Vivan Balakrishnan has launched a new training programme to green the Republic’s manufacturing sector. This shows the strong emphasis local government is placing on upcoming green technologies, says leading Singapore company registration specialist Rikvin Singapore.
Going green has long been a catchphrase regularly trotted out by companies at corporate social responsibility initiatives and public relations campaigns. What the green industries really stand for, however, goes much deeper beyond simply using paper instead of plastic.
Dr Balakrishnan said at the annual Singapore Environmental Achievement Awards (SEAA), held at the Shangri-la hotel, that companies would face increasing resource constraints in the near future and that businesses that differentiate themselves through sustainable management would have a competitive advantage over those that do not.
Presently, Singapore Income Tax Act provides for a 100 per cent accelerated capital allowance for certified energy-efficient or energy-saving equipment.
Governmental support in the form of incentives is not the only sign of Singapore’s push towards environmentalism. The Siemens Green City Index, a collaborative study with Siemens and the Economist Intelligence Unit and Centre for Liveable Cities, awarded Singapore Asia’s greenest city in February 2011.
Another Ernst & Young survey done in 2010 found that, despite the bleak economic outlook, international executives are committed to the climate-change agenda and expect investment in climate-change initiatives to rise in the next few years.
The survey had polled 300 global executives spanning 16 countries and 18 industry sectors. Those surveyed believed that green strategies can make money, save money and mitigate risk as businesses shift towards a low-carbon economy.
“Green companies who wish to capitalise on this growing industry thus need to be businesses that keep sustainability at the core of their processes and functions”, says Satish Bakhda, Rikvin’s Head of Operations.
Rikvin offers business solutions for both local and foreign investors and entrepreneurs. The firm’s specialties include company registration services, offshore company setup, incorporation and other related corporate services. Rikvin also provides professional services on accounting, taxation, immigration and application of Singapore work permit for foreign workers to work and relocate in Singapore. For enquires on local business compliance issues, visit our website at /.