SINGAPORE: Singapore continued to show that it can innovate with the best, topping a new report as Asia's most innovative country for the second consecutive year. The report, published this week by the Global Innovation Index 2012, revealed that the city-state's high-quality public service and e-government have continued to push Singapore to the top of the region. The report also cited the ease of opening business in the country and a high-quality trade and transport infrastructure as reasons for the country's retaining the top position. Globally, Singapore came in third overall, behind Switzerland and Sweden. The report was a joint effort between Insead and the World Intellectual Property Organization (WIPO). The report's editor from Insead, Dr. Soumitra Dutta, said “innovation was crucial for economic growth.” Dutta added while delivering a video conference from Geneva that governments should understand that research and development budget cuts could affect the economic growth in countries negatively. “Once the cuts are made, it's not easy to create the same momentum once the crisis passes. Governments must maintain the same rate of innovation so they remain competitive in future," he said.