FINAL YEAR ELECTRONICS PROJECTS SINGAPORE/MALAYSIA/DUBAI/U.A.E
Final Singapore[1]
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Transcript of Final Singapore[1]
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Singapore:Singapore:Past, Prefect, Future?Past, Prefect, Future?
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Flow of presentationIntroductionCase BriefingQuestions and Answers of the caseStrengths of Singapore
Present scenarioKey areasIndia Singapore trade relationsLessons to be learnt by Singapore
Lessons learnt from SingaporeConclusion
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Case Briefing
Unique country in many ways
Capitalist mixed economy
Role of government in thedevelopment of Singapore
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Considering the fact that India and Chinawere recording high growth rates and thefact that this might lead to their reduceddependence on services offered by Singapore, what can the city state do toretain their position as a financial centre?
Question 1
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Answer 1
Singapore is set to project itsmedical wonders
Financial marketderegulation
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Opening of the local bankingsector to foreign competition
Encourage economic
diversification
Increased regional integration
Answer 1
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Singapore was encouraging multinational
companies to use it as a hub with regionalcenters in other countries. How effective issuch a strategy? What may be the dangersof following such a strategy?
Question 2
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Singapore's foreign policyalignment with the US
Competition from otherAsian states
Preferential tax treatment
Control of Singapore Inc
Growing space constraints
Answer 2
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Singapore faces many challenges.
Analyze this challenges and suggestpossible responses to overcome them?
Question 3
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SerialNo
Challenges Steps taken by the government
Effect on theeconomy
Suggestions
1) Heavydependency onthe outside world
None Three times inrecession Should encouragedomestic players toexport abroad.
2) Lack of space Best use of thewhateveravailableresource
One of the bestplanned city withthe bestinfrastructure inthe world
Space is a constraint,but Singapore has leftnot let this to affectthe economy
3) Internationalcriticism
Of late thegovernment has
given somefreedom to thepeople.
As of now noeffect
Now that theeconomy is stable the
government mustgive some amount offreedom to the mediato bring about thetransparency in thecountry.
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SerialNo
Challenges
Steps taken bythe government
Effect on the economy Suggestions
4) Multiculturalpopulation
Government hastaken all the stepsto maintainharmony betweenvarious groups
Except the riots in 1960sthe country has beenquite peaceful
Multi cultural eventsand participation ofthe 3 main ethnicgroups must beencouraged by thegovernment.
5) Water
problem
Government has
set up adesalination plantto reduce thedependency ofwater on Malaysia
The desalination plant
supplies only about 10% of the total demand
The government
must look to initiatemore such measuresor must look forother neighboringcountries whichprovide ate at
cheaper rates.
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Serial No
Challenges
Steps taken bythegovernment
Effect on the economy Suggestions
6) Illegal
activitiesand piracy
Government has
passed manyacts to ban theillegal activitiesas well as harshpunishments
Singapore still continues
to be the transit point ofnarcotic drugs.
Must concentrate on
strengthen theCustoms Act followingthe model of Australia
7) Regionalcompetition
Many newprojects havebeen initiated.
Singapore still remains asthe regional leader butthe position isthreatened by theneighboring countries.
Must focus on thoseareas which are still yetto be exploited by othercountries. Also mustencourage thedeveloping countries to
invest in their economy8) Dubai Islamic banking Many Gulf countries have
started investing inSingapore
Must concentrate moreon investments in theMiddle east countries.
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SerialNo
Challenges Steps taken bythegovernment
Effect on theeconomy
Suggestions
9) Terrorists
target
Stepped as well
as upgraded thesecurity at allnecessary levels
The country has not
had a single terroristattack till date
Must adopt a neutral
role on sensitiveissues son that it doesnot lead to becomingthe soft target ofterrorists.
10) High prices Government hastried to increasethe income ofthe people byrevising theminimumwages.
Prices have relativelygone up and thecompanies are nowconcentrating more onother low costcountries
Must providesubsidies and supportprice for necessaryproducts.
11) IncomeDisparity
Introduce thepreferential tax
The gap between therich and the poor hasgrown over the years.
Must introduce thetax rate for the highincome people andutilize the money tohelp in the uplifment
of the poor people.
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Singapore was criticized for its strict controlson freedom of expression and its humanrights record. While this may have affected
the countrys image, does it affect itscompetitiveness? Would the country havebecome as successful as it is today, if it had a
multi-party system and a freer society?
Question 4
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Acts and restrictions enforced by thegovernment:
Internal Security Act
Heavy restrictions on political
opponents Use of capital punishment extensively
(highest per- capita execution rate)
Restricted freedom of speech andfreedom of press
Multi-ethnic and multi-religiouspopulation
Avoid repetition of1964 and 1969 riots
Answer 4
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No negative effect on competition
GOS has tried to project that one party rule helps ineconomic stability
Multi party rule in the initial days would have led to theincrease in the ethnic conflicts
As the economy has been stabilized, acts have to be relaxed
It can result in a major outbreak if not tackled.
Answer 4
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Intensive future plans
Currency Converter
Politically stable
Negligible strikes and laborproblems
Other Strengths
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Other StrengthsMost clean economy of the
world
Bilateral trade agreements
Arbitration capital of the world
Easiest trade norms andnegligible import duty
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Petroleum refining
Export oriented
production
Shipping industry
Knowledge basedeconomy
Key Areas
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Research and Development(biotech and health care)
Environmental technology
Education (Singapore education)
Islamic finance
Digital cinema exchange / Media hub
Key Areas
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Games Bazaar
BPO activities
International arbitration
Shopping / tourist
destination
Asian culture capital
Key Areas
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India Singapore trade relationsExtensive cultural and commercialrelations
Comprehensive EconomicCooperation Agreement (CECA)
Singapore supports Indias bid tobecome the permanent member of
U.N.
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Singapore also heartily supportedIndia in its war against Pakistan(1965)
8th largest source of investment inIndia and 9th biggest tradingpartner
India Singapore trade relations
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Bilateral tra e et ee t t ec tries is U D 1 illi (2006)
aj r ex rts fr i a re:etr le , e st es a
ac i ery
I ia i a re tra e relati s
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Major imports: Electronic goodsand organic chemicals
Investment projects in India
4th biggest tourist destination
India Singapore trade relations
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Present Scenario
Recession hit thecountry for the third time
The first country in Asiato go into recession
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Dipping Growth rate(2008-09)
GDP growth 1.1 % in 2008-09 asagainst the estimated 5 6 %
Singapore dollar has touched anall time low to 1.8 against the US
$
Present Scenario
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No plans to cut the interest rates
Help the small business to cope up
with the global slow down
Government still determined on itsglobalization plan
Financial deregulation planannounced
Present Scenario
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What Singapore needs to learnThe group think syndrome
Strict government control- Myanmarriots
Water solution-Gulf countries
Piracy-Australia Custom Act
The Singapore media- propagateofficial thinking and giving it a spin
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Singapore Outputs
Well planned city-Chandigarh
Free trade port-Shanghai
Worlds best airport-Kuala Lumpur
Best utilization of resources-UAE
Setting up of industrial parks- Kazakhstanand Hong Kong
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Conclusion
It is required that the Singapore government takesthis era as an opportunity to revive the economy. It is
high time that the government must nowconcentrate on strengthening the domestic economyby motivating the locals to go abroad.