Topics: Singapore, Statutory boards of the Singapore Government, Ministry of Trade and Industry Pages: 1 (253 words) Published: December 1, 2012
Going by the history of Singapore, it is one of the most recently formed nations highly influenced by its neighbors and British colonial holdings. The PAP party, as described in the case, has been pivotal in shaping Singapore Inc. To better understand the key elements of the Singapore “competitiveness” model, identification of major players in the game has been conducted in Exhibit 1. Keeping in mind the history of Singapore and the main players involved, the following are the key elements of the competitiveness model: a.Infrastructure: Singapore has been ahead of the curve in developing advanced infrastructure to attract foreign investments. The Singaporean government created the Economic Development Board to provide a “one-stop” experience for any multinational companies planning to start production in Singapore. Some examples from the case that prove the pro-active nature of the Singaporean government in providing world-class infrastructure are: i.EDB enabled National Semiconductor to begin production in 2 months. ii.Jurong Town Corporation helped build ready-built factories and industrial estates. iii.Biomedical Services Group was setup to assist biomedical companies and investors in planning, investment, and marketing aspects of the sector. iv.An 18-acre complex known as “Biopolis” was setup devoted exclusively to research and development efforts. It resided 2000 scientists and professionals. v.The TradeNet e-trade processing system was setup to support efficiency and turnaround time for businesses. It was the first of its kind in the world and supported the advanced infrastructure Singapore has been committed to build.
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