How Marina Bay served as a model to the Principles of Governancedeployed to help Singapore sustain its growth in the 21st Century Presented by: Lim Fang Yi(27) 3S2
Brief Introduction to Singapore• Singapore’s Gross Domestic Product(GDP) was USD$208.77 Billion (as of 2010)• Singaporean’s average Purchasing Power Parity(PPP) USD$56,964
Brief introduction to MBS• Owned by Las Vegas Sands• Total worth of building+prime land = SGD 8 billion• Officially opened on 23/06/2010• Integrated Resort with Casino,Shopping,Hotel• Projected to stimulate addition of SGD$2.7 billion or 0.8% of GDP by 2015• employing 10,000 people directly and 20,000 jobs being created in other industries.
Brief introduction to MBS• Casino expected to generate at least SGD$1 billion in annual profit• Three towers connected by 1 hectare terrace known as SkyPark• World’s longest elevated swimming pool• Over 300 outlets and stores,2 Crystal Pavilion• 2 theatres, art path, expo and convention centre and ArtScience Musuem.
Principles of Governance• Leadership is key Leaders must do what is right rather than what is popular• Anticipate change and stay relevant Be open to new ideas and question old assumptions. Never be trapped in past
Principles of Governance• Reward for work and work for reward We can only earn a living and safeguard our future only through our efforts and intelligence• A stake for everyone, opportunities for all We aim to create an inclusive society where citizens feel a sense of ownership and belonging
How principles of governancedeployed to help Singapore help sustain its growth
Leadership is key• leaders foresee the potential in Singapore’s growth in tourism. industrial IRs e.g. MBS,RWS built to attract tourists, retail outlets and F&B set up restaurants and bars• built Marina Bay as a city of leisure and entertainment, not only Business Districts• Parks are built-energy conserving by cooling area down and energy-saving electrical appliances• Conservation:Building on reclaimed land• YOG 2010 connects country to the world• Future developments• Transit-oriented(MRT station)• Planned well for conserving energy
Anticipate change and stay relevant• Some people believe that building of casinos from IRs will cause many family and social problems arose from gambling• Against government’s decision to build Casino• Government continued to allow casinos to be built, hearing people’s concerns simultaneously• Singaporeans pay levy SGD$100 upon entry to casino and family members can apply a ban to enter casino for their family members
Reward for work and work for reward• Talents from all over the world are employed at the Marina Bay, a Business District• They are given a chance to serve and work for a world-renowned multi-national enterprise like Las Vegas Sands.• People who are recognised for their contributions to the company Las Vegas Sands, are given chances for promotion to a higher position.
A stake for everyone, opportunities for all• Many Singaporeans and foreigners work here• All hold different jobs with different status and salary• Everyone gets the same basic benefits like medical, education• Everyone given a chance to prove themselves• No priorities given to everyone• Anyone working in casino have to go through proper training, no exceptions.
In conclusion… The planning of Marina Bay is directly or indirectlyconnected to the 4 principles of governance Innovative ideas and benefits being put in place toensure efficiency of the bay Marina Bay serves many different purposes Marina Bay inspires us to think of new creative ideas and work on them Merged many different ideas which balance one another A place enjoyable for everyone Benefits the whole country including people
~Acknowlegements~• Marina Bay Sands Website• Singapore Tourism Board• Singapore Government