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PESTLE analysis of Singapore
Transcript of PESTLE analysis of Singapore
Conservation Laws ‘Imports nearly 40% of its 300-million-gallon daily demand’ “Vision of becoming an information society by 2015” (Dutta and Mia, 2010) Research and Development - $6.0 billion in 2009 Common Law System 5th least corrupt nation in the world (The IMD World Competitiveness report ,2009) Easy to set up and exit the business
It was ranked fourth in the world for starting business by World Bank 2nd in the world for exiting business (Doing Business, 2011) No minimum wage Maximum of 44 working hours a week Ranked third for “Best Protection of Intellectual Property in the World” (Global Competitiveness Report 20010-2011) Trade-to-GDP ratio of 270.8% in 2009
High dependency on global market trends
Volatility and fluctuations in macro economy People’s Action Party (PAP) is in power since independence
Few political turbulence and negative images
Efficient and transparent government Attractive corporate tax rate
Corporate tax rate - 17%.
Less tax regimes
Investors are not subject to capital gains tax, dividend tax, and foreign exchange controls. Numerous of Tax Treaties
50 bilateral comprehensive tax treaties minimise tax burden Rank 1st in the Global Enabling Trade Index
18 FTA with 24 trading partners Future Prospects CET- Education to develop expertise
High proportion engaged in advanced activities World-class technological infrastructure #2 globally (Global technology report 2010) English as a medium for communication
Minimal cultural barriers for multinational firms Racial issues Significant percentage of non-resident population
Gini Coefficient Index 48.1 Labour market accustomed with presence of expatriate Future difficulties with immigration
Widening trends in income inequality Literacy rate: 92.5%
Speak Good English initiative Excellent education and healthcare
Mixed efforts to reign in knowledge transfer
Clusters Changi Business Park Employment Laws Statistics Doing business Law Singapore Japan Germany France Italy United States United Kingdom Brazil China Russia India Source:http://info.worldbank.org Source:http://www.fta.gov.sg/benefit.asp Source:http://www.tradingeconomics.com http://www.ura.gov.sg/MP2008/growth_areas.htm
http://en.wikipedia.org/wiki/File:LeeHsienLoong-IISSConf-Singapore-20070601.jpg Source:http://epi.yale.edu/Countries/Singapore Source:http://epi.yale.edu/Countries/Singapore Source: http://www.singstat.gov.sg Source:The Global Competitiveness Report Source:http://www.tradingeconomics.com Source:http://www.tradingeconomics.com