Doing Business in Singapore Case Study

University of Petra

MBA PROGRAM

International Business

Case study

Doing Business in Singapore

Abdullah Al-Hares

03/12/2015

1- Discuss why and how the Singapore government promotes the international trade process.

The Singapore government has a great strategies to build a strong economic environment to promote international trade through its various ministries and agencies of statutory boards by promoting economic growth and create jobs, so as to achieve higher standards of living for its citizens, protecting Singapore's international trade interests, in particular, with a view to enhance access to global markets for goods, services and investments; and providing a good understanding of the current state for policy formulation and refinement general philosophy of economic.

2- Why is free trade so vital to Singapore's survival and growth?

The FTAs have strengthened Singapore’s cross-border trade by: 

* Eliminating or reducing import  tariff rates in the country of destination

* Providing preferential access to service sector

* Easing investment rules

* Improving intellectual property regulations (IPR)

* Opening government procurement opportunities

The FTA initiatives helps increase Singapore's attractiveness as an investment location for industries.

Singapore depends heavily on international trade, without global trade, there can be no Singapore since Singapore is "an international creation for purposes of trade.

3- Singapore has a highly developed trade-oriented market economy and its economy has been ranked as the most open in the world. What has been the government's role in achieving this feat?

Singapore's government promotes high levels of savings and investment through policies such as the Central Provident Fund, which is used to fund its citizen's healthcare and retirement needs.

Singapore's savings rates have remained among the highest in the world since the 1970s.

 Singapore has taken...