The Singapore Advantage

Photo credit: Daniel Cheong

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Visions Into Reality2

Singapore is many things to many people – an economic marvel, an exotic blend of cultures, one of Asia’s most exciting tourist destinations and perhaps, the perfect place to do business.

The country’s strong economy, high levels of transparency, top-tier labour force and strategic location make it easy for multinationals and start-ups to grow their businesses. Singapore’s investment climate provides great opportunities for foreign investors to co-create new tourism developments that offer unique and memorable consumer experiences.

New developments like the Integrated Resorts and the world’s fi rst Formula One night race have joined perennial attractions such as Sentosa and the Night Safari, making Singapore one of the top leisure destinations in Asia.

So whether it is creating the next world-class attraction, giving your brand an Asian presence or bringing a new business venture to life, you can count on the Singapore advantage to help turn your vision into reality.

Singapore’s 2011 Growth Indicators

Source: “Singapore in Figures”, Department of Statistics Singapore, 2012

Through a Business Lens

714.3 sq kmLand Area

S$61,692GDP Per Capita

S$326.8billionGross Domestic Product (GDP)

The fastest growing economy in Asia with growth of 5.4% in 2011.

Goods Producing IndustriesGrowth was led by the biomedical manufacturing cluster, which saw a strong growth in pharmaceutical output.

7.6% 2.8%

Service Producing IndustriesTourism-related service sectors were bolstered by strong visitor arrivals as well as the continued success of the Integrated Resorts.

4.4%

5,183,700Total Population

Age

>60

14.8 %

40-59

31.7%

20-39

29.9%

<20

23.7%

Photo credit: Martin Yap

5

The Singapore Advantage

5

The Singapore Advantage

From its geographic location to its quality of life, Singapore has several compelling advantages for any investor.

The dynamic tourism landscape in Singapore constantly evolves in order to stay compelling and remain relevant as a tourist destination.

It has the best pro-business environment in Asia. Economic and regulatory affairs are highly transparent thanks to an effi cient government.

It boasts a robust economy that supports free-market competition, which is a major factor for its strong yearly growth.

Businesses benefi t from a highly regarded workforce comprising both local and international talent.

Singaporeans also enjoy a high standard of living, with a low crime rate, as well as a clean and green environment.

Finally, Singapore’s world-class infrastructure means its airport and cruise facilities are among the best in the world. Factor in the country’s strategic location and it becomes an excellent springboard for businesses to reach Asia’s booming economies. A Formidable

Competitive Edge Photo credit: Darren Chin

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The Singapore AdvantageVisions Into Reality6 7

The Singapore Advantage

Where Tourism is Serious BusinessThe remarkable transformation of Singapore’s tourism landscape over the years can be attributed to a strong tourism vision with bold and ambitious targets – 17 million visitors and S$30 billion tourism receipts. Over the last 10 years, Singapore’s tourism sector has seen strong growth with a 50% increase in visitorship as well as the doubling of tourism receipts. In the next phase of growth, Singapore puts its focus on the visitor’s quest for a personal experience – a more intimate approach to the discovery of a city that offers differentiated experiences while remaining unmistakably Singapore.

Accolades

Singapore is 1st in Asia-Pacific intravel & tourism competitiveness

(World Economic Forum Travel and Tourism Competitiveness Index 2011)

Source: Annual Report on Tourism Statistics

13.2 millionVisitor Arrivals

3.7 daysAverage Length of Stay

Sightseeing & Entertainment

Accommodation

Food & Beverage

Shopping

Others (includes Medical, Education and Airfares)

S$22.3 billionTourism Receipts

China

35%6% 9% 10% 12%

Breakdown by Major

Components

20%

24%

10%

26%

20%

Top 5 Visiting

Countries

Indonesia 2,592,000

China 1,578,000

Malaysia 1,141,000

Australia 956,000

India 869,000

Growth in Visitor Arrivals

Tourism Performance in 2011

13%

18%

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The Singapore Advantage

The Best Pro-Business Environment in Asia

Backed by Strong Economic Fundamentals

Singapore has been ranked as the ‘World’s easiest place to do business’ by the World Bank for good reason. Business, economic and regulatory affairs are highly transparent and reliable. Its effi cient and stable government anticipates global business trends well and adapts its policies to suit them.

Few countries have enjoyed the same rapid and relentless economic growth as Singapore since its independence. Its strong economy is the result of an openness to overseas capital and technology, investment-friendly policies and support for free-market competition.

Accolades

Competitiveness & Business Environment

2nd most competitive country in the world

World Economic Forum, The Global Competitiveness Report 2011-2012

World’s easiest place to do business

World Bank (Doing Business 2012 report)

Business Legislation & Effi ciency

2nd in the world for best protection of intellectual property

The Global Competitiveness Report 2010-2012, World Economic Forum

Least bureaucratic place for doing business in Asia

IMD World Competitiveness Yearbook 2011

Government

1st in Asia for the least corruption in its economy

IMD World Competitiveness Report 2011

2nd most transparent country in the world & 1st in Asia

IMD World Competitiveness Report 2011

A Hub for Global Talent When it comes to world-class talent, you don’t need to look further than Singapore. Its highly educated, motivated and productive workforce has been ranked number one in the world for the past 30 years.

This impressive talent pool is further enhanced by an open immigration policy, allowing companies to source the right people from a highly skilled workforce with the reputation for competency, integrity and diverse cross-cultural work experiences.

Accolades

Labour

Most competitive workforce in the world

Beri’s 2011 Labour Force Evaluation Measure (LFEM) report

The most business-conducive labour regulations in Asia

The Global Competitivenes Report 2011–12

Accolades

Economic Performance

Top 3 in foreign trade and investment

Globalisation Index 2012, Ernst & Young

No. 1 worldwide as city with best investment potential for

BERI Report 2011-IIProfi t Opportunity Recommendation

Photo credit: William Cho

Photo credit: Calvin Yew Pin Shi

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The Singapore Advantage

A Great Place to Work, Live and Play If Singapore is a great place to do business, it’s an even better one to live in. It frequently features in global quality-of-life indexes, even ranking in ‘The Top 25 Liveable Cities’ list by respected travel and business magazine Monocle since 2007.

The country embraces diversity and ethnicities – one in three of its population hails from overseas – producing a cosmopolitan cultural mix few cities can match.

It is also one of the cleanest, greenest and safest cities in the world. There is abundant greenery even in busy downtown areas and the public transportation system is very effi cient.

Accolades

1st most liveable city in the World

Location Ratings For Expatriates '12, ECA International

Best place in Asia to live, work & play

Quality of Living Worldwide City Rankings, Mercer Survey, June 2011

Expatriate Living

Ranked Asia’s best country to work in for foreign talent

World Economic Forum,

The Globel Compeitiveness Report 2011-12

Best living environment for Asian expats

Location Ratings System, ECA International

Photo credit: Daniel Cheong

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World-class Infrastructure

Located strategically at the crossroads of the East and West, Singapore is one of the most important trading hubs in the world. Together, its world-class airport and cruise facilities provide access to some 2.8 billion people within a seven-hour fl ight radius.

Changi Airport

A major hub in Asia, Changi Airport is the 7th busiest international airport today. Since 1981, it has held the unique distinction of winning the most ‘Best Airport’ awards in the world. It has also received more than 370 awards and has earned the title of ‘Top Worldwide Airport’ 9 times, including 4 consecutive years from 2007 to 2011.

Changi Airport has the most air-links in the Asia Pacifi c region. When combined with the government’s liberal air policy and a continued emphasis on effi ciency and service, it is easy to see why Changi Airport continues to be regarded by many as the World’s Best Airport.

Cruise Facilities

Singapore has two cruise facilities located a short distance from each other – the new International Cruise Terminal at Marina South and the Singapore Cruise Centre at Harbourfront. Their central location makes them ideal starting points to explore Singapore.

The new International Cruise Terminal, which will be able to accommodate the largest cruise vessels in the world today, will complement the existing Singapore Cruise Centre by doubling Singapore’s current berth capacity to 4.

2.8 billion people withina 7 hourflight radius

5,800 100

= 1,000 fl ights

Key cities in Asia Pacifi c are within a 6-8 hour fl ight from Singapore

200

2hr

3hr

4hr

5hr

6hr

7hr

TOKYO

SHANGHAI

TAIWANHONG KONGNEW DELHI

BANGKOK

KUALA LUMPUR

SINGAPORE

JAKARTA

PERTH

MELBOURNE

Total airlines served Number of cities coveredin over 60 countries

Flights per week

Accolades

Changi Airport 2011

Top Worldwide Airport

Wanderlust Travel Awards 2011 (9th time)

Best Airport in Asia Pacifi c

6th Annual Reader’s Choice Awards (6th time)

Best Airport – Asia

The Asian Freight & Supply Chain Awards 2011 (25th time)

Best Airport in the World

Ultimate Luxury Travel Related Awards (5th time)

Best Airport in the World

Business Traveller Middle East Awards 2011 (8th time)

Source: Changi Airport Group 2011 Accolades

Photo credit: Changi Airport Group

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Doing Business in Singapore

The government has established numerous incentive programmes to help companies improve effi ciency, strengthen capabilities and explore new opportunities. Some programmes assist start-ups and local enterprises, while others are designed for global companies with large-scale needs such as the set up of regional headquarters in Singapore.

Singapore: The Gateway to Affluent Asia

The Asia Pacifi c economies have continued their stellar growth since the 2008 recession and proved to be the most resilient in the world. Sustained by the robust GDP growth in China and India, Asia’s growth is forecast to outpace the rest of the world in the coming years. As the region’s economic wealth rises, so does its pool of wealthy individuals. In 2010, Asia Pacifi c’s population of High Net Worth Individuals (HNWI) grew to 3.3 million – equalling Europe – and their total wealth amounted to a staggering US$10.8 trillion.

In tourism, Asia continues to grow from strengthto strength. It was the fi rst region to recover from the global recession and the strongest growing region in 2011 according to the UNWTO World Tourism Barometer, with international tourist arrivals growing by 6 per cent to a new record of 216 million.

With its excellent location and outstanding infrastructure, Singapore is the ideal springboard for any investor wanting to tap into Asia’s rising affl uence.

Sources: Asia Pacifi c Wealth Report 2011, ITB World Travel Trends Report 2011/2012

International Tourist Arrivals Growth in 2011

Japan, China and Australia accountedfor 74.4% of Asia Pacifi c’s HNWI population.

• Japan

• China

• Australia

• Others (includes India, Indonesia and Singapore)

Projected growth of wealth in Asia compared to global growth of 8.1% by 2013

80 million to Southeast Asia

9.7%

216 million to Asia Pacifi c

12%

6%

Asia’s Projected Growth in 2010

Growth of Asia Pacifi c HNWI Wealth

in trillions

10.8 +11.3%

9.72009

2010

53%

25%

HNWI Population

6%

16%

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Setting Up a Business in Singapore

Entering Singapore for Business

With the republic’s pro-business policies, it is easy for corporations to do business in Singapore. Investors can enter and re-enter the country with ease.

Find out more at the Singapore Economic Development Board (EDB) at www.edb.gov.sg and the Ministry of Manpower at www.mom.gov.sg

Registering your Business

A step-by-step guide to registering a business or company in Singapore can be found at www.business.gov.sg, or get more information on registering a branch of a foreign company at www.acra.gov.sg

• All businesses must be registered with the Accounting & Corporate Regulatory Authority (ACRA).

• A foreign company that sets up a branch in Singapore needs to appoint two local agents to act on its behalf. These agents must be Singapore residents – citizens or permanent residents, or foreigners with employment or dependant passes.

• Special licenses for certain businesses such as Banking, Insurance and Stock Broking are required.

Help for Young Start-up Companies

SPRING Singapore works with partners to seed and nurture innovative start-ups as well as to build a pro-enterprise environment. Providing a range of resources, SPRING Singapore assists new companies in accessing new markets, fi nancing, capability and management development along with technology and innovation.

Visit www.spring.gov.sg for more information.

Singapore’s outstanding tourism performance, strong economic fundamentals, renowned pro-business environment and reputation for safety have proven time and again to be vital factors that make it an ideal place for tourism investments. The country’s remarkable transformation into Asia’s premiere business and leisure hub has been a testament to investor confidence over the years.

In gearing up for the next phase of tourism growth, we invite you to be part of yet another transformation, one that will bring a renewed sense of what it is to truly enjoy the Singapore experience – unique, relevant and authentic.

Taxation

With one of the lowest corporate tax rates in the world, it is easy to do business in Singapore. A host of tax schemes and incentives are in place to help companies grow their businesses.

For more details, visit the Inland Revenue Authority of Singapore at www.iras.gov.sg

Land Sales & Tender Process

The Singapore Government releases land regularly through a land sales programme for private sector development. This is usually done through government agencies like the Singapore Land Authority (SLA), Jurong Town Corporation (JTC) and Urban Redevelopment Authority (URA). They act as agents for the state, carrying out land sales for hotels, commercial, tourism and industrial developments. Investment in Singapore’s real estate market can be through participation in the Government Land Sales programme (GLS) or the Concept and Price Tender.

Under the GLS programme, interested companies are invited to submit their bids and sites would typically be awarded based on the highest bidder. For a Concept and Price Tender approach, companies are required to submit their concept proposals and proposed price in two separate envelopes. Based on specifi c evaluation criteria, concept proposals would be shortlisted for the second stage of this tender evaluation. At the second stage, shortlisted submissions would be assessed based on the highest price submitted, whereby the highest bidder would be awarded the site.

For more information on land sales managed by the other government agencies, please refer to the following websites:URA : www.ura.gov.sgSLA : www.sla.gov.sg/Land_Sales/ls_index.htmJTC : www.jtc.gov.sg/GLSProgramme/GLS/Pages/index.aspx

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