Red symbolizes: universal brotherhood and equality of men

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Red symbolizes universal brotherhood and
equality of men White symbolizes purity and
virtue Crescent moon represents a young nation
on the rise Five stars stand for Singapore's
ideals of democracy, peace, progress, justice and
equality SINGAPORE An Introduction by Tay Siow
Hwee
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Singapore s Demography

• Land Area 690 sq. km. (Norway is 600X)
• Pop. Density 6000 per sq. km (Norway is 13)
• Population 4.2 Million (0.8 million are
  foreigners)
• Ethnic groups Chinese 76
• Malay 15
• Indian 6.5
• Others 2.5
• Languages 4 Official Languages
• English, Mandarin, Malay Tamil
• - English is the main language for
  administration and business

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Singapore s Economic Development

• 1960s Entrepot trade to Industrialization
• - Labor Intensive Industry to Create
  Employment
• - Industries like Shipbuilding Shiprepair
  were encouraged
• 1970s Capital-Intensive Industrialization
• - Attract MNCs in Petrochemical Electronics
  Manufacturing
• 1980s Knowledge-Intensive industrialization
• - Full Employment Situation, Phasing out
  LaborIntensive Industries
• - Promote investments in Fin. Biz. Services
  and RD
• - Services Sector became the 2nd Engine of
  Growth for the Spore Economy
• 1990s Globalization with Regional Focus
• - External Wing to the Domestic Economy
  (Encourage Spore-based Cos.
• to venture abroad), Industrial Parks in
  Foreign Countries
• 2000s Biomedical Science, Entrepreneurship,
  Cluster Development, Nanotechnology
• - Stem Cell Research Encourage New Biz.
  Startups Maritime Cluster

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Singapore Today Some Highlights

• Maritime Sector
• Worlds Busiest Port, in terms of Shipping
  Tonnage Worlds Leading Bunkering Port
  Container Port
• Singapore Co. Neptune Orient Line - is worlds
  7th Largest Container Shipping Line
• Oil Gas Sector
• Worlds 3rd Largest Oil Refining Centre (after
  Rotterdam Houston)
• Worlds 3rd Largest Oil Trading Centre (after New
  York London)
• 60 of Worlds Market Share for FPSO/FSO
  Conversions
• Spore Co. (Keppel Fels) is the Worlds Biggest
  Producer of Jack-up rigs (built 60 of world
  orders since 1996)

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Singapore Today Some Highlights

• Information Technology Sector
• Most Network Ready Country in the
  World(surpassing US which was ranked 1st in
  2003), Norway 13th
• Worlds Largest Producer of Hard Disk Drives (35
  of worlds production)
• Spore Cos. that are in the Worlds Top Three in
  their Category -
  Creative Technology is the World Largest Producer
  of Computer Sound Cards
• - STATS ChipPac is the Worlds 3rd Largest
  Computer Chips Testing House
• Other Sectors
• Singapore company, Petra Foods is the Worlds 4th
  largest cocoa ingredient manufacturer
• Global IT Report 2005, World Economic Forum /
  Cisco Systems

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Not Everything is fine for Singapore
Vulnerabilities
Small land area, resulting in high cost of land -
restricts our economic activities to the
manufacturing of only high value-add products and
the services sector

• No natural resources
• not even water !

Need to import gt85 of our food requirements
Ageing Population by 2030, one in every five
Singaporeans will be above the age of 65
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Singapore's Economy - Main Indicators

• GDP US107 billion (2004)
• Per Capita Gross National Income (GNI)
• US21,600 (World Rank 29th)
• (Norway Ranked 3rd)
• Total Trade US343 billion (gt 3 times GDP)
• Key Manuf. Sectors Electronics (40), Chemicals
  Biomedical (33)
• Key Service Sectors Transport Communications
  Services
• Business Financial Services
• Tourism 8.3 million in 2004
• (hope to double when 2 Integrated
  Resorts with Casinos are completed by 2009)
• World Development Indicators database, World
  Bank, September 2004
• Countries in top 15 rankings include Bermuda,
  Channel Islands, San Marino, Cayman Island.

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Singapore's Economy

• Singapore Inc.
• gt 6.500 Foreign MNCs
• gt 10.000 Foreign SMEs
• gt100 Norwegian Cos.
• Major Foreign Investors
• - US, Europe and Japan
• Yr 2004, Foreign Investment Commitments account
  for approx 72 of the Total Manufacturing Fixed
  Asset Investments, FAI (about US5 billion)
• Major Trading Partners
• - Malaysia, EU, US, China and Japan

We are here
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Singapores Economy 2004Singapore's GDP in
2004 US103 billion (Expanded by 8.4 )
Economic Forecast 2005 Growth Forecast 3 -
5 Concerns Singapore is faced with a double
jeopardy this year Escalating oil prices 2
of its key growth engines Electronics and
Biomedicals are expected to slow down
Bright Side Corporate Tax rate cut from 22 to
20 effective 2004
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Why Singapore
Strategically located at the Cross-road of Major
Shipping Routes (thru which ½ of worlds oil
supplies 1/3 of global trade passes)
Located at the heart of S E Asia (gt500 Million
People and a consumer Market worth US330
billion, equal in value to the Booming Coastal
Region of China)
Singapore
Excellent Location for Test-bedding of
New Products Services, RD and
Springboard McKinseys Quarterly Report January
2004 to the Regional Markets
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Why Singapore

• Low Risk Environment for doing Business

Political Stability
Pro-Business Government (advocates free
enterprise, free movements of capital profit,
tax incentives)
Harmonious Labor Relationship (strong tripartite
relationship between Government - Employers -
Trade Unions)

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Why Singapore

• What Other People Say

Singapore is the Third Best Place in the World to
do Business After NZ and US, ( Norway 6th
) World Bank Report, September 2004
Singapore is the Least Corrupt Country in
Asia PERC, Political and Economic Risk
Consultancy, March 2004
Singapore is the Worlds Second Freest Economy
(Tariffs and customs-duty free for almost all
imports) Index of Economic Freedom 2004

published by The Heritage Foundation / The Wall
Street Journal

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Thank you for your attention