Singapore is also enjoying high levels of activity in the construction and financial sectors; it is the largest real estate investment trust market in Asia outside Japan, with eight new REITs listed on the Singapore Exchange in 2006, while in February 2007 the first infrastructure finance trust was also floated. The city-state is also a major foreign exchange centre, the fourth-largest in the world, according to the Monetary Authority of Singapore. In addition, Singapore is the busiest port in the world in terms of shipping tonnage, and it is also a world-leading hub for container trans-shipment. Overall, Singapore was the fifth most economically competitive country in the world in 2006, according to Forbes, and was the most business-friendly economy in the world in 2005–2006, according to a report by the World Bank and the International Finance Corporation.This dynamic economy leads to high levels of work for the leading law firms. Lawyers from both local and international firms are featured in the following pages, and we have identified 281 eminent professionals in specific fields. They have been recommended by clients and peers, both for their local work and in some cases for work throughout the region. We have classified these experts in 22 practice areas. The following firms stood out for the depth and breadth of the expertise they command, and should be regarded as the leaders in Singapore.