Overview - Doing Business at Singapore

1. Doing Business in Singapore
V I D H YA L A K S H M I K
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2. Doing Business in Singapore
• SINGAPORE is a lively, vibrant and efficient place with a
cosmopolitan population.
• Singapore is the 8th largest source of investment in India.
• Remarkable for efficiency where things get done.
• Between 2006-07 and 2010-11, trade has grown by 51%, and
it is expected to touch $32 billion by 2015.
• Singapore accounts for 10% of India’s total inward FDI,
making it the 2nd largest investor in Indian economy. India
has emerged as the 8th largest investor in Singapore
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3. Doing Business in Singapore
• GCI score – 5.67 by WEF Global competitiveness Index
• Second best economy to in technological readiness, business
sophistication and higher education.
• Population – 5.18 Mn
• GDP Per capita - $49271 (13th highest)
• Debt as a percentage of GDP: 100.8 (10th highest)
• Percentage of individuals using the Internet: 75.0 (24th
highest)
• Infant mortality rate: 2.1 per 1,000 live births (third lowest)
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4. Doing Business in Singapore
• Americans fed up with their elected officials might want to
consider moving to Singapore
• It has the highest rank in terms of the trust in politicians and is
also No. 1 in terms of the quality of its legal and
administrative frameworks.
• Singapore also ranks near the top in market efficiency,
infrastructure, higher education and financial markets
development.
• But an inflation rate of 5.2% weighs on Singapore's
competitiveness.
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5. Doing Business in Singapore
• Great benefit for business travelers– airport spectacularly
efficient - Less than an hour
• Efficiency – Immigration procedures, courteous staffs, check-
in time no more than 5 mins, MRT , cheap
• Taxi- international standards – 15-20 mins from center of
town
11/7/2012 Doing Business in Singapore

6. Doing Business in Singapore
• Its public and private institutions are rated as the best in the
world for the fifth year in a row.
• It also ranks 1st for the efficiency of its goods and labor markets,
and places 2nd in terms of financial market development.
• Singapore also has world-class infrastructure (2nd), with excellent
roads, ports, and air transport facilities.
• Singapore is the 14th largest exporter and the 15th largest importer
in the world.
• According to the WTO, Singapore has the highest trade to GDP
ratio in the world at 407.9 percent.
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7. Doing Business in Singapore
• Local Sim card availability- text for taxi
• Hotel- around shopping streets- around financial district – CBT
• Beautiful hotels – High standard
• Weather : Hot and wet, slightly hot and dry 28-32 degree
Celsius
• Multi religious culture – short holidays for festivals
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8. Doing Business in Singapore
• Chewing gum is illegal
• Drug- death penalty mandatory
• Political atmosphere– easier – uneasy criticizing their own
govt. – pride in their own govt.
• Business Culture and formality – carry cards – usual respect
• English – lingua franca of business
• About 60% of Singapore's Indian population speaks Tamil as
their native language.
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9. Doing Business in Singapore
• People- straight forward
• They like to get things done and decisions are quick
• Singaporeans- extremely tough negotiators-Chinese
dominated culture (74%)
• Don’t humiliate others in front of boss- shows lack of
sensibility in front of them
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10. Doing Business in Singapore
• Food – business lunches – tend to see partners together –
relaxed
• Host- western habits – who will pay the bill exists
• Rarely people drink at lunch time
• Don’t often see people getting drunk- undignified
• Peaceful – law abiding population
• Singaporeans- id card of some sort- like passport
• Singapore does work- business place and everything goes as it
wants.
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11. References
1. The Economist, Business and cultural review
2. World Economic Forum – The Global competitiveness Report- 2012-2013
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12. I have found no greater satisfaction than achieving success through
honest dealing and strict adherence to the view that, for you to gain,
those you deal with should gain as well.
– Alan Greenspan
Thank You.
11/7/2012 Doing Business in Singapore