ASEAN Member States “SINGAPORE”
The island state’s economy grew by some 4.8% in 2011 and is projected to be around 2.5% by the end of 2012. Both external and domestic demand is expected to continue to support strong economic growth in Singapore’s increasingly knowledge based skills economy.
Singapore is located off the southern tip of the Malay Peninsular, 137 kilometres north of the Equator. As an island country, it is made up of 63 islands and is separated from Malaysia by the Straits of Johor. There are two man-made connections to Malaysia, the Johor-Singapore Causeway in the north and the Tuas Second Link in the west. Jurong Island, Pulau Tekong, Pulau Ubin and Sentosa are the largest islands after Singapore Island, which contains the capital, Singapore City.
Singapore’s land area consists of forest and nature reserves and its primary rainforest is Bukit Timah. Most work in Singapore is in the service sector and poverty levels are low compared to other countries in the Region. Singapore has the world’s highest percentage of millionaire households.
Tourism forms a large part of the economy with over ten million visitors each year. Gambling has been legalised and the country’s casino resorts have proved popular destinations. A largely Buddhist (Chinese) state, Singaporians may claim that they are an egalitarian society, yet they retain strong hierarchical relationships in most aspects of their lives. Singapore is a multi-ethnic society, where culturally diverse, Chinese, Malay and Indian traditions co-exist in a westernised cosmopolitan metropolis. Singapore is a founder member of ASEAN.
- Joined ASEAN: 8 August 1967 (Founder Member)
- Head of State: President Tony Tan Keng Yam
- Area: 697 square kilometres
- Border countries: None
- Coastline: 193 kilometres
- Capital city: Singapore City
- Total population: 5,353,491
- Climate: Tropical, hot and humid with two monsoon seasons. Northeastern monsoon from December to March, southwestern monsoon June to September
- Languages: Mandarin, English, Tamil, Malay, Hokkien, Cantonese, Teochew
- Religions: Buddhist 42.5%, Muslim 14.9%, Taoist 8.5%, Hindu 4%, Catholic 4.8%, other Christian 9.8%, other 0.7%, none 14.8%
- Ethnic groups: Chinese 76.8%, Malay 13.9%, Indian 7.9%, other 1.4%
- Monetary unit: Singapore dollar (SGD)
- Natural resources: Fish, deepwater ports
- Major exports: Machinery and electronic equipment, consumer goods, pharmaceuticals, chemicals, refined petroleum products.
- Main export trading countries: Malaysia 12.2%, Hong Kong 11%, China 10.4%, Indonesia 10.4%, US 5.4%, Japan 4.5%
- Major imports: Machinery and equipment, foodstuffs, consumer goods, mineral fuels, chemicals
- Main import trading countries: Malaysia 10.7%, US 10.7%, China 10.4%, Japan 7.2%, South Korea 5.9%, Taiwan 5.9%
- Internet domain: .sg
- International dialling code: +65
- Sources: CIA World Factbook, ASEAN, IMF, Kwintessential.co.uk, Journeymart.com
Business Friendly Environment
Singapore is a top-class world city to Work, Live and Play. The globally connected, multi-cultural and cosmopolitan city-state offers a conducive environment to creative and knowledge-driven industries.
Singapore is also a leading provider of services such as international banking, trade finance, maritime finance, insurance, treasury operations, and asset and wealth management within the region. Singapore is the fourth largest foreign exchange trading centre in the world.
Trusted and Strong Governance
Singapore is known for integrity, quality, reliability, productivity, rule of law, and enforcement of intellectual property rights. These assets are essential in the knowledge economy. The Republic is the least corrupt nation in Asia and one of the top three least corrupt countries in the world, according to the IMD World Competitivenes Report 2008.
Global Transportation Hub
Singapore has built on its advantageous geographical location to become one of the world’s top transportation hubs for sea and air cargo. Singapore’s container ports are the busiest in the world. They offer a choice of 200 shipping lines with links to some 600 ports in 123 countries.
The World’s Top Labour Force
The multi-cultural Singaporean workforce is highly educated, highly motivated and highly productive. Singaporeans are also proficient in English ? the language of international business. Singapore has a large base of engineering talent, with the number of engineers in universities and polytechnics expanding steadily each year, in addition to the size of pool of skilled technicians.
The government has always adopted a pro-business policy, regardless of world economic situations or crisis. It has taken tough measures including reducing corporate tax rates, lowering employers’ Central Provident Fund (CPF) contribution rates and capping office rental rates. For the quality of its government policies, Singapore has been rated No. 1 in Asia (PERC, June 2006).
For more information, please visit at www.edb.gov.sg
Doing Business in Singapore
- Country Background
- Selected Economic Indicators and Other Statistics
- Operational Costs
- Transportation Costs
- Telecommunication Costs
- Investment Regulation and Procedures
- Expatriate Living Costs
- Employment Regulation
- List of Useful Information
- Other Useful Addresses
- List of Useful Web Site
- Public National Holidays
- Total Material
- Guide Book
- Capital : Singapore
- National Population : 4.13 million
- Language : English, Bahasa Melayu, Mandarin and Tamil
Unique is the word that best captures Singapore, a dynamic city rich in contrast and colour where you’ll find a harmonious blend of culture, cuisine, arts and architecture. A bridge between the East and the West for centuries, Singapore, located in the heart of fascinating Southeast Asia, continues to embrace tradition and modernity today. Brimming with unbridled energy and bursting with exciting events, the city offers countless unique, memorable experiences waiting to be discovered.
A single day’s trails will take you from the past to the future, from a colourful ethnic enclave to an efficient business centre, from serene gardens to sleek skyscrapers.
start your day with a unique breakfast in a long house set amidst lush vegetation and forest trees with Singapore’s very own orang utans to keep you company. Then…
Take a step back in time as you enter a traditional Chinese temple, Muslim mosque, Hindu temple and Christian church-all in one neighbourhood.
Return to the present by strolling along the streets of Orchard Road, where local teens parade the latest fashion trends and pick up entertaining local catch phrases.
A simple meal is made memorable when drifting along the Singapore River on a traditional bumboat. Step off the boat and…
Indulge in Singapore’s favourite pastime – shopping. From fascinating antiques to luxury labels. The latest gadgets to ethnic crafts, you’ll find them all. You can even shop for basement bargains in the heart of Little India at four in the morning!
When you are done with shopping, retreat into the peaceful sanctuary of one of our acclaimed spas just a stone’s throw away from the best business facilities in the world.
If thrills and spills are more your speed, then get catapulted 60 metres into the air on a reverse bungy ride. More laughter and fun is in store if you board an amphibious “duck” to explore the city, in the company of its wacky guides.
Don’t be late for the show – give yourself at least an hour to enjoy a customary Chinese tea ceremony before you step into a world-class venue to catch a Broadway musical.
Singapore is truly a city like no other, a world of possibilities. With its friendly and welcoming people, state-of-the-art infra-structure and something new happening everyday, your stay will be a memorable mix-and-match of all the things you have always wanted to do. Come and enjoy countless fascinating experiences, and take away memories that are uniquely Singapore.
For more information, please visit http://www.visitsingapore.com/