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SINGAPORE AN OVERVIEW British High Commissioner Mr Alan Hunt CMG Doing Business in Singapore Cheryl Lee Trade and Investment Manager.

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Presentation on theme: "SINGAPORE AN OVERVIEW British High Commissioner Mr Alan Hunt CMG Doing Business in Singapore Cheryl Lee Trade and Investment Manager."— Presentation transcript:

1 SINGAPORE AN OVERVIEW British High Commissioner Mr Alan Hunt CMG Doing Business in Singapore Cheryl Lee Trade and Investment Manager

2 Then...

3 Now

4 Some Facts & Figures… 712 km million £26,000 4 th Zero £142 billion > 3 million

5 More Facts & Figures…

6 Rankings

7 Economic Structure

8 Manufacturing Growth Industries Services New areas

9 Engines of Growth

10 Headlines

11 2004 to 2007 GDP growth averaging >8% ranked 2 nd fastest-growing economy in 2010: record growth of 14.5% Q1 2011: 8.3% Recent Performance

12 2011 forecast: 5 – 7% Medium term: 3 – 5% Longer-term objectives: Productivity: 2 – 3% each year Reduce reliance on foreign labour Looking ahead

13 Economic Policy Framework GDP Total external trade 3 x GDP FDI stock 1.5 x GDP Exports 1.5 x GDP Open Economy

14 Trading Partners Top 4:- Germany France UK Netherlands > 70% of goods exports go to Asia; 11% to EU; 9% to US

15 UK in Singapore

16 4 th largest foreign investor >700 UK companies >31,000 British residents >460,000 UK tourist arrivals in 2010 UK in Singapore

17 Trading relationship UK goods & services trade with Singapore :

18 Why Singapore?

19 Why Singapore Pro-business environment SingaporeUK Ease of doing business14 Starting a business417 Dealing with construction permits 216 Registering property1522 Getting credit62 Protecting investors210 Paying taxes416 Trading across borders115 Enforcing contracts1323 Closing a business27

20 Favourable tax regime

21 Few restrictions on foreign ownership of companies No capital controls Few import & export duties: 99% of all imports enter duty-free Pro-foreign investment

22 Low risk, high potential, “British” environment No natural disasters British Common Law Political Stability Low crime Consistent & transparent economies English as business language

23 Robust IP protection & legal infrastructure IP Protection Rankings in Asia WEF: 3 rd most protective IP regime in the world; top in Asia Signatory to major IP conventions & treaties

24 Strong FTA network

25 Labour market Resident Vs Non- resident Population

26 Commitment to R&D 2015 target : 3.5%

27 Air connectivity India: 1.1 billion SE Asia: 590 million Australasia: 25 million China: 1.3 billion Half the world’s population within 7 hours flight time Changi Airport 1.82 million tonnes of cargo (2010) 98 Airlines 60 Country links 205 City links 5,100 scheduled flights per week >110,000 take-offs (2009)

28 Sea connectivity World’s 2 nd busiest container port

29 Regional hub for SEA The combined SEA economy is significant SEA has more people than EU, the former Soviet Union, South America or the entire Arab world SEA is a bigger export market for the UK than the Gulf, China, India or Brazil UK exports of goods and services

30 Key Opportunities

31 Mass Rapid Transport Extension 4 th World Scale Oil Refinery Land Development of Old Railway and New Rail Station Singapore Maritime Institute Singapore Sports Hub New shipyard

32 InfoComm Technology One North Additonal School Facilities New Hospitals & Healthcare Projects New Power Station & Power Plants New Education and Training Campuses

33 Our services are tailored to your needs. We can save you time and money by:  providing in-market knowledge years of experience supporting British business overseas  organising programmes with contacts who are interested in your company  making the most of your time in the market  notifying you of new opportunities in Singapore relevant to your company  running brand raising events  organising and hosting seminars  helping you gain media coverage  supporting your due diligence procedures  keeping you up-to-date on the regulatory environment  and more….. Our reputation enhances your reputation How we can help you?


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