Singapore is a city-state where natural resources are not plentiful. However, the city has turned its lack into strength. Nowadays, the state has the second busiest port in the world after Rotterdam, unemployment at a minimum, and super-efficient infrastructures.
Goldman Sachs Economist has named Singapore as the MIST nation -- Malaysia, Indonesia, Singapore and Turkey -- which means that the city is part of the next most promising emerging market.
For some economists the MIST is the next BRIC. Indeed, market is growing strongly in recent years for this country.
In this report, we will provide the emerging economies and the attractiveness of the market in Singapore, identifying relevant issues, trends, opportunities and threats. This analysis is important for a company, which wants to conquer the Singaporean market.
Following this, we will assess the general direction of the political and economic policies being followed in order to develop this country.
Finally, we will appraise the future prospects for international trades and businesses between Singapore and Malaysia.
In order to make a global analysis, this part will examine Singapore external and internal environment through a PESTEL analysis firstly, and a SWOT analysis afterwards.
Singapore is known as having one of the best business environments in the world - one of the world's competitive most profitable with world-class intellectual property protection and enforcement .
Nowadays the number of Multi-National corporations in Singapore, which is up to 7,000, is a testimony of Singapore's excellence in manufacturing and services.
The following sections will analyse the factors that influence the business environment in Singapore.
Singapore becomes independent in 1965. Since this period, a big part of political factors refers to governmental policies with their intervention in the economy. The Singaporean Government, under the leadership of the People's Action Party (PAP), has given priority to boosting economic growth and development .
This country put into practice the open-policies to make a better environment for a local and international firm.
To help businesses, the government has set up several organizations like the Ministry of Trade and Industry (MTI). These make Singapore leading global city by promoting economy growth and creating job. MTI gives also broad direction for the economy. The Ministry of Finance prefers collaborate with each company rather than control them.
Reputed to be a country where is scarcely corruption, Singapore has a Corruption Practices Investigation Bureau to: safeguard the integrity of the public service.