SINGAPOREAN OVERVIEW

British High Commissioner

Mr Alan Hunt CMG

Doing Business in Singapore

Cheryl Lee

Trade and Investment Manager

Then...

Now

Some Facts & Figures…

712 km2

5.1 million

£26,000

4th

Zero

£142 billion

> 3 million

More Facts & Figures…

Rankings

Economic Structure

Manufacturing22%

Wholesale/retail trade17%

Financial services12%

Business services14%

% share of overall economy

Manufacturing

Growth Industries

Services

New areas

Engines of Growth

Headlines

2004 to 2007 GDP growth averaging >8%

ranked 2nd fastest-growing economy in 2010: record growth of 14.5%

Q1 2011: 8.3%

Recent Performance

-5

0

5

10

15

20

19

61

19

66

19

71

19

76

19

81

19

86

19

91

19

96

20

01

20

06

GDP Growth % Growth

2011 forecast: 5 – 7%

Medium term: 3 – 5%

Longer-term objectives:

Productivity: 2 – 3% each year

Reduce reliance on foreign labour

Looking ahead

Economic Policy Framework

GDPTotal

external trade

3 x GDP

FDI stock

1.5 x GDP

Exports

1.5 x GDP

Open Economy

Trading Partners

Top 4:-GermanyFrance

UKNetherlands

> 70% of goods exports go to Asia; 11% to EU; 9% to US

UK in Singapore

0

20,000

40,000

60,000

80,000S$48.6 b

FDI stock as at 2009 in S$ million

4th largest foreign investor

>700 UK companies

>31,000 British residents

>460,000 UK tourist arrivals in 2010

UK in Singapore

Trading relationship

0

2

4

6

8

10

12

14

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

£ bi

llion

Imports

Exports

UK goods & services trade with Singapore :1999 - 2009

Why Singapore?

Why Singapore

Pro-business environmentSingapore UK

Ease of doing business 1 4

Starting a business 4 17

Dealing with construction permits

2 16

Registering property 15 22

Getting credit 6 2

Protecting investors 2 10

Paying taxes 4 16

Trading across borders 1 15

Enforcing contracts 13 23

Closing a business 2 7

Favourable tax regime

Few restrictions on foreign ownership of companies

No capital controls

Few import & export duties: 99% of all imports enter duty-free

Pro-foreign investment

Low risk, high potential, “British” environment

No natural disasters

British Common Law

Political Stability

Low crime

Consistent & transparent economies

English as business language

Robust IP protection & legal infrastructure

IP Protection Rankings in Asia

•WEF: 3rd most protective IP regime in the world; top in Asia

•Signatory to major IP conventions & treaties

Strong FTA network

Labour market

Resident Vs Non-resident Population

Commitment to R&D

2015 target : 3.5%

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)

Sea connectivity

World’s 2nd busiest container port

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

Key Opportunities

Mass Rapid Transport Extension

4th World Scale Oil Refinery

Land Development of Old Railway and New Rail Station

Singapore Maritime Institute

Singapore Sports Hub

New shipyard

InfoComm Technology Mediapolis @

One North

Additonal School Facilities

New Hospitals & Healthcare

Projects

New Power Station & Power

Plants

New Education and Training

Campuses

Our services are tailored to your needs.

We can save you time and money by: providing in-market knowledge - 174 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

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