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  • Singapore

    1. 1. Republic of Singapore <ul><li>Presenter: </li></ul><ul><li>Jinender Kumar </li></ul><ul><li>Course: </li></ul><ul><li>Analysis of Pharmaceutical Environment </li></ul>
    2. 2. Presentation Objectives <ul><li>Country Snapshot </li></ul><ul><li>Economy </li></ul><ul><li>Culture and Values </li></ul><ul><li>Business Meetings and greetings </li></ul><ul><li>Negotiations </li></ul><ul><li>Political environment </li></ul><ul><li>Import and Export </li></ul><ul><li>Trade regulations </li></ul><ul><li>Investment climate </li></ul><ul><li>Pharmaceutical industry </li></ul>
    3. 3. Country Snapshot <ul><li>Smallest nation in Southeast Asia </li></ul><ul><li>An island situated between Malaysia and Indonesia </li></ul>Source:
    4. 4. Country Snapshot <ul><li>Capital: Singapore </li></ul><ul><li>Area : Total: 692.7 sq km Land: 682.7 sq km Water: 10 sq km </li></ul><ul><li>Area - comparative: slightly more than 3.5 times the size of Washington, DC </li></ul><ul><li>Population: 4,608,167 (July 2008 est.) </li></ul><ul><li>Ethnic Make-up: Chinese 75.2%, Malay 13.6%, Indian 8.8%, other 2.4% </li></ul>Source:
    5. 5. Country Snapshot <ul><li>Population Breakdown by Age: 2008 Estimates </li></ul>Source; Age structure Age percentage male female 0-14 years 14.8% 353,333 329,005 15-64 years 76.5% 1,717,357 1,809,462 65 years and over 8.7% 177,378 221,632
    6. 6. Country Snapshot <ul><li>Median age: Total: 38.4 years Male: 38 years Female: 38.8 years (2008 est.) </li></ul><ul><li>Population growth rate: 1.135% (2008 est.) </li></ul><ul><li>Birth rate: 8.99 births/1,000 population (2008 est.) </li></ul><ul><li>Death rate: 4.53 deaths/1,000 population (2008 est.) </li></ul><ul><li>Net migration rate: 6.88 migrant(s)/1,000 population (2008 est.) </li></ul>Source:
    7. 7. Country Snapshot <ul><li>Religions: Buddhist, Taoist, Muslim, Christian, Hindu </li></ul><ul><li>Languages: English, Mandarin and other Chinese dialects, Malay, Tamil </li></ul><ul><li>Education: definition: age 15 and over can read and write </li></ul><ul><ul><li>Years compulsory --six. Literacy --95.7%. </li></ul></ul>Source:
    8. 8. Country Snapshot <ul><li>Sex ratio: </li></ul><ul><ul><li>At birth: 1.08 male(s)/female Under 15 years: 1.07 male(s)/female 15-64 years: 0.95 male(s)/female 65 years and over: 0.8 male(s)/female Total population: 0.95 male(s)/female (2008 est.) </li></ul></ul><ul><li>Infant mortality rate: </li></ul><ul><ul><li>Total: 2.3 deaths/1,000 live births Male: 2.51 deaths/1,000 live births Female: 2.08 deaths/1,000 live births (2008 est.) </li></ul></ul>Source:
    9. 9. Country Snapshot <ul><li>Life expectancy at birth: </li></ul><ul><ul><li>Total population: 81.89 years M ale: 79.29 years Female: 84.68 years (2008 est.) </li></ul></ul><ul><li>Total fertility Rate: 1.08 children born/woman (2008 est.) </li></ul><ul><li>HIV/AIDS adult prevalence rate: 0.2% (2003 est.) </li></ul><ul><li>HIV/AIDS - people living with HIV/AIDS: 4,100 (2003 est.) </li></ul><ul><li>HIV/AIDS - deaths: fewer than 200 (2003 est.) </li></ul>Source:
    10. 10. Singapore Economy (2008 est.) <ul><li>GDP (purchasing power parity): $244 billion </li></ul><ul><li>GDP - real growth rate: 3% (2008 est.), 7% (2004-7) </li></ul><ul><li>GDP - per capita (PPP): $52,900 </li></ul><ul><li>GDP - composition by sector: </li></ul><ul><ul><li>Agriculture: 0% Industry: 33.8% Services: 66.2% (2007 est.) </li></ul></ul><ul><li>Labor force: 2.81 million </li></ul>Source:
    11. 11. Singapore Economy (2008 est.) <ul><li>Unemployment rate: 2.3% </li></ul><ul><li>Population below poverty line: NA </li></ul><ul><li>Investment (gross fixed): 27% of GDP </li></ul><ul><li>Budget: </li></ul><ul><li>Revenues: $27.7 billion Expenditures: $26.22 billion </li></ul><ul><li>Public debt: 92.6% of GDP </li></ul><ul><li>Inflation rate (consumer prices): 6.6% </li></ul>Source:
    12. 12. Singapore Currency <ul><li>Currency (code): Singapore dollar (SGD) Currency code: </li></ul><ul><li>SGD Exchange rates: Singapore dollars (SGD) per US dollar – 1.530 (2009 est.), 1.415 (2008 est.), 1.507 (2007), 1.5889 (2006), 1.6644 (2005), 1.6902 (2004) </li></ul>Source:
    13. 13. Culture and Values <ul><ul><li>The concepts of group, harmony, and mutual security are more important than that of the individual </li></ul></ul><ul><ul><li>The family is the centre of the social structure and emphasizes unity, loyalty and respect for the elderly </li></ul></ul>Source:
    14. 14. Culture and Values <ul><ul><li>The term, 'family' generally includes extended family and close friends who are treated as family members </li></ul></ul><ul><ul><li>Respect for the elderly and seeing the family as the place one goes to for support, both help retain core values </li></ul></ul>Source :
    15. 15. Face and respect <ul><li>Having face indicates personal dignity </li></ul><ul><li>Face is a prized commodity that can be given, lost, taken away or earned </li></ul><ul><li>It is a mark of personal qualities such as a good name, good character, and being held in esteem by one's peers </li></ul><ul><li>It can also be greater than the person and extend to family, school, company, and even the nation itself </li></ul><ul><li>Face is what makes Singaporeans strive for harmonious relationships </li></ul>Source:
    16. 16. Non Verbal Communication <ul><li>Singaporeans often trust non-verbal messages than the spoken words </li></ul><ul><li>They often hint at a point, rather than making a direct statement, since that might cause the other person to lose face </li></ul><ul><li>Silence is an important element of Singaporean communication. </li></ul><ul><li>They do not understand western cultures ability to respond to a question hastily and think this indicates thoughtlessness and rude behavior </li></ul>Sourec:
    17. 17. Business Meetings and Greetings <ul><li>Greetings follow a strict protocol often based on both the ethnic origin and age of the person </li></ul><ul><li>Younger people or those who work in multi-national companies may have adopted the western concept of shaking hands with everyone, but this is not the case with older or more reserved Singaporeans </li></ul><ul><li>Ethnic Chinese shake hands. Their grasp is rather light although the handshake itself can be rather prolonged. </li></ul><ul><li>Men and women may shake hands, although the woman must extend her hand first. Introductions are always done in order of age or status </li></ul>Source:
    18. 18. Business Meetings and Greetings <ul><li>Between men, ethnic Malays shake hands </li></ul><ul><li>Men and women do not traditionally shake hands, since Muslim men do not touch women in public </li></ul><ul><li>Younger Malays may shake hands with foreign women, but it is more appropriate to use the 'salaam' (bowing the head) greeting. This is also the greeting to be used when two women meet </li></ul><ul><li>Ethnic Indians shake hands with members of the same sex. When being introduced to someone of the opposite sex, nodding the head and smiling is usually sufficient </li></ul>Source:
    19. 19. Titles/Names <ul><li>Chinese traditionally have 3 names. The surname or family name is first and is followed by two personal names </li></ul><ul><li>Address the person by an honorific title and their surname. If they want to move to a first name basis, they will advise you which of their two personal names to use </li></ul><ul><li>Some Chinese adopt more western names in business and may ask you to call them that </li></ul>Source:
    20. 20. Titles/Names <ul><li>Many Malays do not have surnames. Instead, men add the father's name to their own name with the connector bin. Women use the connector binti </li></ul><ul><li>The title Haji (male) or Hajjah (female) before the name indicates the person has made their pilgrimage to Mecca </li></ul><ul><li>The name Sayyed (male) or Sharifah (female) indicates that the person is considered to be a descendent of the prophet Mohammed </li></ul>Source:
    21. 21. Titles/Names <ul><li>Many Indians in Singapore do not use surnames. Instead, they place the initial of their father's name after their own name. The man's formal name is their name 's/o' (son of) and the father's name. Women use 'd/o' to refer to themselves as the daughter of their father </li></ul><ul><li>Commonly use nick names </li></ul><ul><li>Sikh Indians use the name Singh to denote themselves as Sikhs </li></ul>Source:
    22. 22. Business Etiquette <ul><li> More formal than in many western countries. </li></ul><ul><li>Strict rules of protocol must be followed </li></ul><ul><li>The group (company or department) is viewed as more important than the individual </li></ul><ul><li>People observe a strict chain of command, which comes with expectations on both sides </li></ul><ul><li>In order to keep others from losing face, much communication will be non-verbal </li></ul>Source:
    23. 23. Business relationship <ul><li> Personal relationships are the cornerstone of all business relationships </li></ul><ul><li>Group-oriented culture, so links are often based on ethnicity, education or working for the same company </li></ul><ul><li>One must be patient as this indicates that you and your organization is here for the long-term and is not looking only for short- term gains </li></ul><ul><li>Always be respectful and courteous </li></ul><ul><li>Watch your body language and facial expressions </li></ul>Source:
    24. 24. Business Meetings Etiquettes <ul><li>Appointments should be made well in advance for all meetings and arrangements. Before the meeting, send a list with the names and titles of those who will be attending </li></ul><ul><li>On arrival , if in a group, line up in order of rank and wait to be told where to sit as there are strict protocols to be observed </li></ul><ul><li>Eye contact : A Singaporean might not look others in the eye during a meeting. Cast down eyes may be a sign of respect, especially to those who are more senior or have a higher status </li></ul>Source:
    25. 25. Business Meetings Etiquettes <ul><li>Directness : Singaporeans tend not to be confrontational, and may perceive the more direct western-style discussions as aggressive and disrespectfu l </li></ul><ul><li>Questioning authority or seniority is not done. Questions should be openly invited at the end of a business presentation. When asked a question smile to show that no offence has been taken. A long pause before answering a question indicates that it has been given full attention and a carefully considered response </li></ul>Source:
    26. 26. Negotiations <ul><li>The main purpose of initial meetings is to develop a sense of trust between the parties, rather than to convey information. </li></ul><ul><li>Do not try to schedule meetings during Chinese New Year or Ramadan as many businesses close or their hours of work change. </li></ul><ul><li>There should be a period of small talk before getting down to business discussions. </li></ul>Source:
    27. 27. Negotiations <ul><li>Never disagree or criticize someone who is senior to you in rank as it will cause both of you to lose face and may destroy the business relationship. </li></ul><ul><li>Business negotiations happen at a slow pace. </li></ul><ul><li>Singaporeans (particularly ethnic Chinese) tend to be tough negotiators on price and deadlines. </li></ul><ul><li>Decisions are usually consensus driven so concentrate on all present, not just a perceived key decision maker. </li></ul>Source:
    28. 28. Business Cards <ul><li>Business cards are exchanged using both hands after the initial introductions </li></ul><ul><li>If you will be meeting ethnic Chinese, it is a good idea to have one side of your card translated into Mandarin. Have the Chinese characters printed in gold, as this is an auspicious color </li></ul><ul><li>Treat business cards with respect. This is indicative of how you will treat the relationship </li></ul><ul><li>Your own business cards should be maintained in pristine condition. Never give someone a tattered card </li></ul>Source:
    29. 29. Business Travel <ul><li>Has best airport in the world </li></ul><ul><li>Total 8 airports </li></ul><ul><li>Changi Airport: Links to 140 cities in 50 countries </li></ul><ul><li>60 international flights serve the airport </li></ul>
    30. 30. Political Environment <ul><li>Government type: parliamentary republic </li></ul><ul><li>Executive branch: </li></ul><ul><ul><li>Chief of state: President S R Nathan </li></ul></ul><ul><ul><li>Head of government: Prime Minister LEE Hsien Loong </li></ul></ul><ul><ul><li>Cabinet: appointed by president, responsible to parliament </li></ul></ul>Source:
    31. 31. Political Environment <ul><li>Elections: President elected by popular vote for six-year term; following legislative elections, leader of majority party or leader of majority coalition is usually appointed prime minister by president </li></ul><ul><li>Legislative branch: Unicameral Parliament (84 seats; members elected by popular vote to serve five-year terms </li></ul><ul><li>Judicial branch: Supreme Court (The Chief Justice appointed by The President) </li></ul>Source:
    32. 32. Political Parties <ul><li>People's Action Party or PAP –Ruling Party </li></ul><ul><li>Singapore Democratic Alliance or SDA </li></ul><ul><li>Singapore Democratic Party or SDP </li></ul><ul><li>Workers' Party or WP </li></ul><ul><li>Democratic Progressive Party or DPP </li></ul><ul><li>National Solidarity Party or NSP </li></ul>
    33. 33. Imports <ul><li>Imports: $307.6 billion (2008 est.) </li></ul><ul><li>Imports - commodities: machinery and equipment, mineral fuels, chemicals, foodstuffs </li></ul><ul><li>Imports - partners: Malaysia 13.1%, US 12.5%, China 12.1%, Japan 8.2%, Taiwan 5.9%, Indonesia 5.6%, South Korea 4.9% (2007) </li></ul>
    34. 34. Exports <ul><li>Exports: $349.5 billion (2008 est.) </li></ul><ul><li>Exports - commodities: machinery and equipment (including electronics), consumer goods, chemicals, mineral fuels </li></ul><ul><li>Exports - partners: China 20.2%, Malaysia 12.9%, Indonesia 9.8%, US 8.9%, Japan 4.8%, Thailand 4.1% (2007) </li></ul>
    35. 35. Trade Regulations <ul><li>Free port and open economy </li></ul><ul><li>99% of all imports are duty-free </li></ul><ul><li>One of the most liberal trading regimen </li></ul><ul><li>All medicinal products, prescription and over-the-counter pharmaceuticals imported or sold in Singapore are required to be licensed by the Centre for Pharmaceutical Administration, Health Sciences Authority </li></ul><ul><li>Import and export license governed by Singapore customs </li></ul>Source:
    36. 36. Investment Climate <ul><li>Time Magazine had voted Singapore as World’s favorite business city </li></ul><ul><li>Ranked 6 th worldwide and top in Asia as one of the best places to do business </li></ul><ul><li>Highly educated and skilled work force </li></ul><ul><li>Intellectual property Right Protection </li></ul><ul><li>Free Trade Agreements (FTAs) with key economies such as US, Australia, Japan, New Zealand, members of the European Free Trade Association (Switzerland, Iceland, Liechtenstein and Norway) </li></ul>Source:
    37. 37. Investment Climate <ul><li>2 nd in personal safety among world’s top 50 cities </li></ul><ul><li>Offers the best quality of life in Asia </li></ul><ul><li>Takes only 8 days to start business compared to global average of 51 days </li></ul><ul><li>Lowest corporate tax rate in Asia </li></ul><ul><li>Ranked 3 rd by World Bank in terms of ease of doing business </li></ul><ul><li>Access to 2.8 billion people within 7 hrs flight time </li></ul>Source:
    38. 38. Pharmaceutical industry <ul><li>Regulated by Singapore Association of Pharmaceutical Industry (SAPI) </li></ul><ul><li>Formerly Known as Pharmaceutical Trade Association (PTA) </li></ul><ul><li>SAPI supports legislation that seeks to improve the pharmaceutical trade in Singapore </li></ul><ul><li>Industry size is small due to small population, expected to reach $724 million by end of 2012 </li></ul><ul><li>Increasing cardiovascular disease and rapidly ageing population </li></ul>Source:
    39. 39. Pharmaceutical industry <ul><li>Asian hub of biotechnology </li></ul><ul><li>Regional R&D and manufacturing hub </li></ul><ul><li>8 out of top 20 multinational companies have manufacturing facilities </li></ul><ul><li>In 2005, pharmaceutical manufacturing export of SGD 18 billion </li></ul><ul><li>Trading base for South East Asian region due to its proximity with southeastern region </li></ul>Source:
    40. 40. Summary <ul><li>Country Snapshot </li></ul><ul><li>Culture and Values </li></ul><ul><li>Business Meetings Etiquettes </li></ul><ul><li>Negotiations </li></ul><ul><li>Political environment </li></ul><ul><li>Import and Export </li></ul><ul><li>Trade regulations </li></ul><ul><li>Investment climate </li></ul><ul><li>Pharmaceutical industry </li></ul>