Tiger of AsiaDoing Business in

Singapore

“Oh, East is East, and West is West,

and never the twain shall meet!”

Rudyard Kipling

46Today

46Today

The city-state of Singapore was Founded as a British trading colony in 1819 by

Sir Thomas Stamford Raffles

• 6,826.64 miles from Glasgow to Singapore• 16 hours of travel• Eight hours time difference• Different languages to grasp• 1/10th population size of UK• Food is very spicy• Hot and humid - 100 degrees every day!

Are you nuts?

Doing Business in Singapore

Henry Mintzberg

Henry Mintzberg

And then they built the integrated resorts

Henry Mintzberg

Henry Mintzberg

Me

Henry Mintzberg

Singapore Facts and Figures

Overview of Singapore Economy

2010 GDP growth: 14.5%2011 GDP growth forecast:

4% to 6%

Source: Annual Economic Survey 2010

Industrial Transformation

Among the Fastest Growing Economies

Population 5.2 millionGDP 2010 per head: £23,622GDP Growth 2010: 1.4%Total Trade 2010: £131bnInflation (CPI, 2010): 3.5%Unemployment 2010: 8.5%FDI : £41bn

Population 5.2 millionGDP 2010 per head: £27,841GDP Growth 2010: 14.5% Total Trade 2010: £410 bnInflation (CPI, 2010): 2.8%Unemployment 2010: 2.2%FDI : £225.8 bn

Economic Development Board (EDB)

Mr Tommy ZHENG < Assistant Head < Consumer Insights Programme OfficeSingapore Economic Development Board < tel: 6832-6286 < fax: 6832-6525 < web: www.sedb.com

Global Leadership PositionsElectronics:Key semiconductor cluster in Asia • 45% market share of world’s hard disk• 11% of world’s foundry wafer output• 16 wafer fabrication plants

Biomedical Sciences:Biopolis of Asia • Home to manufacturing facilities of 10 leading pharmaceutical companies• 25 Pharma and Biotech R&D centres• 2,000 researchers

Transport Engineering:Design, build & repair hub

• 70% of world’s jack-up oil rigs• Largest Asia Pacific location for Oil & Gas equipment manufacturing

Chemicals: One the largest refining &petrochemicals centre

• Jurong Island: integrated world class energy and chemical hub• Close to 100 leading global petroleum, petrochemicals and specialty chemicals companies

Core Economic Principles

Source: World Bank “Doing Business 2010”

Source: World Bank “Doing Business 2010”Source: World Bank “Doing Business 2010”

• Singapore is regional hub for many companies

• Breakfast meeting in Singapore, lunch meeting in KL and evening meeting in HK!

• Ang Mo factor• Feed the Beast• Stop in Middle East• Name Card

Opportunities

• Set up a business in a day

• Must have one local director

• Legal System• Tax

Business Friendly

• It is the world’s second most densely populated city right after Monaco

• Part of the four East Asian Tigers (with Hong Kong, South Korea and Taiwan)

• Mainly Chines then Malay, Indian and Others

• Everyone speaks two languages, English and…

An Inside Look

Henry Mintzberg

www.strategyimplementationblog.com