The Singapore economic model is a mix of free-market policies and practices and government intervention in macroeconomic management. Given that Singapore has a relatively small domestic market, the country’s economic strategy has always been to open its economy to foreign investment, position itself as a hub for companies seeking to do business in South East Asia or the greater Asia-Pacific region, and to attract manufacturing investment that is capital intensive and which requires good infrastructure, rather than industries that are labor intensive. Such policies have attracted numerous multinational companies to establish a direct presence here, enabling Singapore to grow into one of the most advanced and technologically driven economies in the world. In 2010, Singapore was rated as the third fastest growing economy in the world with a real GDP growth rate of 14.47%. It is the only Asian country to have AAA credit ratings from all three major credit rating agencies – Standard & Poor’s, Moody’s and Fitch. According to the 2011 Index of Economic Freedom, Singapore is the 2nd freest economy in the world. Singapore’s business freedom score is exceptionally high – it takes three days to start a business in Singapore compared to the world’s average of thirty-four days. Apart from strong business and regulatory policies, other factors such as the country’s strategic geographic position, a vast natural seaport, a highly skilled workforce and a favorable tax regime have created a conducive business environment for companies and industries.