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Singapore leads APAC in race to be ready for app economy

7/03/2016 by Pascal CALOC


Singapore is best placed of the nations in the Asia Pacific to thrive in the region's growing application economy, according to a new study.

Australia, South Korea, Japan and Hong Kong made up the remainder of the top five, followed by Malaysia, China, Thailand, India and Indonesia.

The research, carried out by TRPC after being developed and commissioned by CA Technologies, highlighted how the Government of Singapore has made every attempt to use and support technology, which played a significant part in its number one ranking.

The Asia Pacific Application Economy Index (AEI) 2016 also credits the Lion City's strength of intellectual property protection and innovation, while noting that it has strong score for business agility.

Singapore compares favourably against other nations on the time taken to set up a business, debit card penetration and mobile payments readiness.

The only obvious blemish on Singapore's record is its cyber-security strength, with it ranking 6th in the region, which is more worrying for the fact it has evidently put technology at its core.

CA Technologies vice president for Asia South Nick Lim said he wasn't surprised to see Singapore emerge as the furthest forward in terms of readiness to integrate, develop and benefit from application usage.

"While Singapore is in good stead to thrive in the application economy, dynamic socio-economic conditions in the region will create unique opportunities in emerging markets, so businesses will find it more critical than ever to harness software to stay competitive and relevant in a fast changing world," he said.

TRPC managing director May-Ann Lim stressed that markets will still need to focus on creating conditions for businesses to thrive in the application economy. She explained that they can do so by "continuing to do well in their key success characteristics, while mitigating current and potential weaknesses".


Technology, Asia, Economy

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