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SINGAPORE Culture and Economic Name: Roan Hieu Trung Tran Dinh Tuan Anh Truong Thanh Phu Le Phan Duy Instructor: Dr Ping He OUTLINE • BACKGROUND • CULTURAL ANALYSIS • ECONOMIC ANALYSIS • DIMENSONS BACKGROUND • Founded as a British trading colony in 1819 • Singapore joined Malaysia in 1963 • After years become independent • One of the world’s most prosperous countries • Strong international trading links COUNTRY •Adopt an authoritarian political style •Focus on common values of modernization "think of future common endeavors and achievements" instead of "the distinct contributions of each community •Immigrants gave their allegiance (residence and citizenship) to Singapore (reorient the loyalties owed to larger political units such as China, India, Indonesia and Malaysia and focus them on Singapore) Philosophy change in people Philosophy change in business Geographical • • • • Location: Singapore is a country between Malaysia and Indonesia in Southeastern Asia The area is 710 km2 (a little bit more than Jakarta, 661.5 km2) Climate: tropical, hot, humid, and rainy Topography: mostly low-lying, green, undulating country with a small range of hills at the center Literacy rates Accordingly about 155 918 adults are illiterate (2016) Literacy rate for adult male population is 98.66% (2 322 868 persons) 31 621 are illiterate Literacy rate for adult female population is 95.09% (2 405 161 persons) 124 298 are illiterate Youth literacy rates are 99.9% and 99.9% for males and females accordingly The overall youth literacy rate is 99.9% Youth literacy rate definition covers the population between the ages of 15 to 24 years Language Diet and nutrition Healthcare The Singapore healthcare system comprises public and private healthcare DIMENSONS Disadvantages Restriction of free speech for opposition parties – – It may lead to costly suit Imprisonment Limited dissemination of content -Contribution to free speech activities is low Legal system Organization of the judiciary system based on British common law • points: Constitution, Legislation, Subsidiary Legislation and Legal decisions made by judges • Civil Courts includes : High court, district court, magistrates court and small courts • Rule- bound : littering, gum chewing, smoking , etc Business customs and practices • The group, rather than the individual • When you contact with Malaysian – Singaporean, you also should respect their Islamic value Muslim workers often pray in office and daily prayers are at about 1pm and 4pm • • • • Singaporean business culture is very ethnocentric Singapore prides itself on being the most corruption-free state in Asia Consequently, it has strict laws against bribery Government employees may not accept gifts of any kind Chinese – Singaporeans respect hierarchical relationship They will introduce in order of seniority and call employer “Mr./Mrs./Miss/Ms” with their surnames Religion and other belief systems ⇒Freedom of Religion ⇒Cannot talk of religion in the work place Infrastructure Public transportation MRT Speed & efficiency Bus Extensive network Taxi Fares relatively cheap Extremely high prices for buying a car to Road & motoring control the demand nd busiest port in the world Port Use alternative transportation systems Connected to > 600 ports in 123 countries in continents ECONOMIC ANALYSIS Population - Estimated to be 5.664.322 people (2016) - Growth rates : 1.97% Number of live births : 51.60 - Migration rates and patterns: 82.722 people Economic statistics and activity Nominal GDP : $405 bill in 2015 Personal income per capital: The nominal median monthly income of full-time employed residents in the sector rose by 5.4 per cent, from S$4,210 in 2014 to S$4,437 IN 2015 Growth 3.7 % over year Gross National Income (GNI) : $383 bill (exceed $369 bill in 2014) 1.00 USD=1.36888 SGDUS Dollar↔Singapore Dollar ( 1 USD = 1.36888 SGD1 SGD = 0.730524 USD) Average family income : rose from $8,292 to $8,666 in 2015 Import & export: 14th largest exports & the 15th largest importer in the world Top partner & share total merchandises trade in 2015 Balance-of-payments situation Trade restrictions IMPORTS TAXES More than 99% of all imports into Singapore enter the country duty-free For social and/or environmental reasons, Singapore levies high excise taxes on beer, wine and liquor, tobacco products, motor vehicles and petroleum products Singapore levies a 7% Goods and Services Tax (GST) For dutiable goods, the taxable value for GST is calculated based on the CIF (Cost, Insurance and Freight) value plus all duties and other charges. EXPORTS TAXES Need certificate of Origin Trade barriers for the U.S include TV Telecommunications, audio visual services, legal services and education Export control licenses are required for rubber, timber, granite and satellite dishes and receivers Labor force Inflation rates Thanks for listening ... (residence and citizenship) to Singapore (reorient the loyalties owed to larger political units such as China, India, Indonesia and Malaysia and focus them on Singapore) Philosophy change in... Political risk Source:http://globaledge.msu.edu/countries /singapore/ risk East Asia/Pacific Avg 79 79 79 78 76 Hong Kong 92 92 92 92 92 Singapore 92 92 92 89 89 Taiwan 90 90 90 90 89 Australia... 64 65 Political is stable Singapore being a democratic country has voted representatives to rule the nation According to PERC (Political and Economic Risk Consultancy ) Singapore enjoys the lowest