Business at Singapore

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Overview - Doing Business at Singapore

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Business at Singapore

  1. 1. Doing Business in Singapore V I D H YA L A K S H M I K 11/7/2012 Doing Business in Singapore
  2. 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 11/7/2012 Doing Business in Singapore
  3. 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) 11/7/2012 Doing Business in Singapore
  4. 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 Singapores competitiveness. 11/7/2012 Doing Business in Singapore
  5. 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. 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. 11/7/2012 Doing Business in Singapore
  7. 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 11/7/2012 Doing Business in Singapore
  8. 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 Singapores Indian population speaks Tamil as their native language. 11/7/2012 Doing Business in Singapore
  9. 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 11/7/2012 Doing Business in Singapore
  10. 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. 11/7/2012 Doing Business in Singapore
  11. 11. References 1. The Economist, Business and cultural review 2. World Economic Forum – The Global competitiveness Report- 2012-201311/7/2012 Doing Business in Singapore
  12. 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

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