How did Marina Bay serve as a model to the Principles of Governancedeployed to help Singapore sustain its growth in the 21 Century? st Grace (12) 3S1
The Marina Bay Sands was built to contribute in the growth of SingaporeHow?Attracted foreign investments(global brands eg. Chanel, Mulberry, Coach) due to strategic multiplex (tourist attraction, business hub, classy lodging, convention centres, fancy shopping complex)And therefore helped rapidly boost Singapore’s economyProvided a balance in hectic & harsh current lifestyles of Singaporeans (provided relaxation for people who wanted to take a temporary breather)Create a metropolitan city which differentiate from many other major cities in the Asia.
Leadership is key Government decided to build the Integrated Resorts; MBS at Marina Bay to:• Boost the economy of Singapore via tourism & businessattracting both holiday-makers and business travellers worldwide• Attract foreign investorsseeing how strategic the Integrated Resorts was by being a multiplex providing numerous services in just a SINGLE destination• Create value added jobs and adds value chain industries to Singapore.
…Despite the fact that many Singaporeans were against the whole idea due to the grave consequences that might occur because of the casinos. As it might increase problem gambling which leads to great despair and broken families and relationships.
Therefore, the leader of Parliament, namelyMr Lim Hng Kiang, Minister for trade &Industry, went ahead with the idea and nowthe Integrated Resorts is an international iconadmired by many nations in the world.
Anticipate Change and Stay RelevantThe Clifford Pier• Once a pier for trading of spices and transportation in the past has been redeveloped into Fullerton Bay Hotel in anticipation of large influx of well travelled tourists with more spending power to Singapore.Thus, there will always be enough rooms & places for tourists to lodge in. thus improves the economy of Singapore(staying relevant) & gained international recognition.
Old Inland Revenue Building• Old Inland Revenue Building was converted to high class hotel to cater to more business travellers and it also hosts many business seminars all year round.
• To conserve the land in Singapore due to it’s small area, the government made the decision to built more high-rise commercial buildings, residential homes and underground facilities in Marina BayCBD area consisting many banks....
Marina Bay Link Mall• Anticipating change by constructing the Mall underground, thus not only conserving space but reduces energy consumption as it is cooler underground• Uses sensor for elevators which save energy• It links to SMRT train service, thus adds convenience to the people.….. Therefore staying relevant towards the needs in Singapore.
A stake for everyone, opportunities for all Even people from the public were given a say in the decision-making of the development of casinos as a part of the Integrated ResortsPeople supportive of the idea reasoned that casinos created more jobs, increased tax revenues and had many benefits aroused from the growth in tourism, therefore, after much discussion, the casinos were to be built Therefore, the Integrated Resorts provided
Work for reward, Reward for work• By having the Marina Bay Resorts which needed a huge labour force to sustain it, with different tasks for entertainment, sales, etc, within the Resorts. Employers had to employ many workers with different capabilities. Thus, they had to pay a reasonable wage to their employees so that foreign & local talents will be allured to the job opportunities.
• By working hard and producing excellent services, workers will in turn be given bonuses or pay increase, raising the efficiency and competency in the Resorts.• Hence, reiterating the principle governance, “Work for reward, Reward for work”.