singapore’s - liaa...
TRANSCRIPT
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Singapore’s economic journey
Singapore
at a Glance
1
Our Approach
to Economic
Development
2
Looking into
the Future
3
3
Ministry of Trade and Industry
Economic
Development
Board
Standards,
Productivity
and Innovation
Board
International
Enterprise
Singapore
JTC
Corporation
Sentosa
Development
Corporation
Energy Market
Authority
Singapore
Tourism Board
Competition
Commission of
Singapore
Department
of Statistics
Agencies under Singapore’s
Ministry of Trade and Industry
Agency for
Science,
Technology
and Research
4
Singapore EDB
Grow Industry
Verticals
Enhance
Business
Environment
Attract Foreign
Investment
OUR GOAL
Shaping Singapore’s Economic Future
OUR VISION
A Global Leader, A Great City and a Home in Asia, for Business,
Innovation and Talent
OUR MISSION
We create, for Singapore, sustainable economic growth and vibrant
business and good job opportunities
6
Our economic journey
Employment
Skills
Development
Engineering/
Capital-
Intensive
Technology-
intensive/
Services
Knowledge/
Innovation
60s 70s 80s 90s 2000s
GDP per capita: S$1,310
Unemployment: 13.5% GDP per capita: S$65,048
Unemployment: 1.8%
5000
10000
15000
20000
25000
30000
35000
40000
1964 1968 1972 1976 1980 1984 1988 1992 1996 2000 2004 2008 2012
GD
P/C
ap
ita (
US
$)
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Manufacturing & services :
twin engines of growth for Singapore
Electronics
Transport Engineering
Chemicals
Biomedical Sciences
Precision Engineering
MANUFACTURING
Logistics
Healthcare
Professional Services
Infocomms & Media
Consumer Businesses
SERVICES
Space Technology
Safety and Security
Visual & Performing Arts
Water & Environmental Technologies
International Non-Profit Organizations
NEW AREAS
8
2014(p) Total Output in Manufacturing Sector: S$304 billion (US$240 billion)
Electronics
27.2%
Chemicals
34.1%
Biomed
Mfg
7.1%
Precision
Eng
12.2%
Transport
Eng
11.1%
General
Mfg
Industries
8.3%
US$1.00 = S$1.2671 (p) = preliminary Source: EDB RSU Census & Surveys
Manufacturing 18.4%
Financial & Insurance
12.5%
Business Services 15.8% Wholesale & Retail
17.5%
Transport & Communications
10.9%
Construction 5.1%
Others 19.8%
2014 GDP: S$390.1 billion (US$308 billion)
2014 GDP growth: 2.9%
2015 GDP growth forecast: 2.0% to 4.0%
Source: Economic Survey of Singapore 2014
http://www.mti.gov.sg/ResearchRoom/Pages/Economic-Survey-of-
Singapore-2014.aspx
Singapore’s Economic Structure
9
• 37,400 international
companies, including
3,200 from China, 4,400
from India, 7,900 from
ASEAN (ex-Singapore)
• >7,000 MNCs, 60% with
HQ functions
Best Labour Force
Source: BERI’s 2011 Labour Force Evaluation
Source: The Global
Competitiveness Report 2011-
2012, World Economic Forum
Strong IP Protection Asia’s best country to work in
Source: The Global Competitiveness Report 2011-12, WEF
Ease of Doing Business
Source: Doing Business 2012 Report,
World Bank
54 years of economic development
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A global leader in manufacturing
Singapore’s
prowess in
manufacturing
is evident from
our leadership
in several
areas
Asia #1
Oil Field
Equipment
Manufacturing &
Services
Most
Comprehensive
& Largest
Aero MRO Hub
in Asia
Asia #1 World #3
Global Oil
Refining Centre
Hard Disk Media
40% World
Market Share
Offshore Oil-
rigs
70% World
Market Share
FPSO*
Conversion
70% World
Market Share
Global Leader Global Leader Global Leader
Semicon Wafer
Foundry
10% World
Market Share
Ship Repairs
20% World
Market Share
Hearing Aids
30% World
Market Share
Global Leader Global Leader Global Leader
*FPSO –
Floating
Production
Storage &
Offloading
vessel used in
oil production
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Conducive business environment
– Excellence, reliability, transparency and honesty
– Harmonious industrial relations
– Meritocracy and individual self-reliance
Prudent macroeconomic policies
– Disciplined fiscal spending
Integrated infrastructure
Education and Training
Outward-orientation
– Embrace globalisation, opening market to competition
– Attract foreign investments and talents
Source: World Bank “Doing Business 2013”
Ease of Doing Business
2013 Rank Economy
1 Singapore
2 Hong Kong
3 New Zealand
4 United States
5 Denmark
6 Malaysia
7 Korea, Rep.
8 Georgia
9 Norway
10 United Kingdom
11 Australia
12 Finland
13 Iceland
14 Sweden
15 Ireland
Core economic principles
13
Excellent physical and trade connectivity
LOGISTICS One of world’s top sea and air hub
High Connectivity SEA: 200 lines linked to 600 ports in 123 countries
AIR: 200 cities linked by 5,400 weekly flights
21 out of 25 Top third-party logistic providers
High Reliability “Right ship on time or even ahead”
ACCESS Asia through Singapore
Excellent Business Infrastructure +
Connectivity
ASEAN 5+ FTA
SINGAPORE ASEAN
India China Korea
Japan Substantial tariffs savings through apparel-related HS codes
Leverage
New Zealand
Australia
FREE TRADE AGREEMENTS Most extensive, covers 60% of world’s GDP
14 Source: http://www.iras.gov.sg/irasHome/page.aspx?id=812
Extensive network of DTAs and IGAs
Investment Guarantee Agreements (IGAs) >40 in Force
Double Taxation Agreements (DTAs) >70 in Force
Source: http://app.mti.gov.sg/default.asp?id=2785
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Physical infrastructure to support
a strong industry ecosystem
N
Changi & Loyang
Aerospace Parks
Jurong Island
Petrochemical Complex
Seletar Aerospace Park Causeway
26 miles (42 km)
14
mile
s (
23
km
)
Wafer Fabrication
Park
Offshore Supply
Base
Wafer Fabrication
Park
Tuas Biomedical
Park
One North Biopolis
• Integrated chemical complex
reclaimed from 7 islands
• Proximity to customers/ suppliers
• Over S$30 billion capital investment
attracted
• Integrated R&D complex with
“plug and play” facilities
• Co-location of public and
private R&D labs
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Public R&D ecosystem
• 14 renowned research institutes (RIs)
• 5 world-class universities, of which 3 have a strong
technological research focus
• 30,000 research scientists & engineers in Singapore
across the public and private sectors
Information & Communication Technology
Electronics
IMCB
Inst of Molecular
& Cell Biology IME
Inst of
Microelectronics
IHPC
Inst of High
Performance
Computing
IMRE
Inst of Mat’ls
Research &
Engrg
SIMTech
S’pore Inst of
Mfg Tech
DSI
Data Storage
Inst
BTI
Bioprocessing Technology
Institute
GIS
Genome Inst of S’pore
IBN
Inst of BioEngrg and
Nanotechnology
IMB
Inst of Medical Biology
SICS
S’pore Inst of Clinical
Sciences
ICES
Inst of Chem &
Engrg
Sciences
BII
BioInformatics
Inst
Chemicals, Materials & Environment
Bio-medical Sciences
IIR
Institute for
Infocomm
Research Manufacturing &
Automation
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Building a Pipeline of Industry-Relevant Talent
6 business schools or programmes in Financial Times top 10
2 in 5 post-secondary students graduate with S&T qualifications
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Emerging Opportunities in Asia
Rise of Asia
Long term growth drivers remain
valid
Southeast Asia - a key engine
Global growth driven by emerging Asia
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Advanced economies
Emerging Asia
Other EM and developing countries
Global growth (3-year moving average)
Source: IMF Regional Economic Outlook
Affluence The global middle class will more than double by 2030 Source: Burgeoning bourgeoisie, The Economist
Urbanization Number of people in urban areas exceeded those in
rural areas for the first time in 2010 Source: United Nations
Health & Aging The number of older persons is expected to exceed the
number of children for the first time in 2047. Source: UN World Population Ageing 2007 report
Source: Carnegie Endowment
Strong base for consumer growth
•Population of over 600m by 2015
•Middle class growing from 40m in 2010 to 85m by end of
2017 Source: Economist Corporate Network
ASEAN Economic Community 2015
Aiming for a single market and production base
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H4B secures
businesses with
the mandate to
resource
opportunities
H4I seeds ideas
for potential new
businesses
H4T builds the necessary talent pools to
create successful businesses
Building Singapore as a Home for Business, Innovation and Talent
is about the Clusters
that we have built up in CKI industries based on
our core fundamentals of Trust, Knowledge,
Connected and Life
Positioning Singapore for the Future
the big ideas key initiatives the proof
21
Global leader in the design and manufacture
of semiconductor assembly equipment(US)
Full-fledged global headquarters and equipment
R&D and manufacturing site
Consumer products industry giant (Europe)
HQ for Asia, East & Central Europe, Africa and
the Middle East; ‘Four Acres’ global leadership
development centre
World’s leading equipment supplier to the semiconductor, flat
panel display and solar photovoltaic industries (US)
Semiconductor equipment manufacturing facility will serve as a
strategic hub to manage its Asian market
Capitalising on Asia’s Growth from
Singapore Is about the Clusters that we have built up in
industries based on our core fundamentals of
Trust, Knowledge,
Connected and Life
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Home for Innovation
Public sector capabilities and
Singapore’s needs as impetus
for industry to co-create
tomorrow’s solutions today
from Singapore for Asia >>>
Singapore as the
“Living Laboratory”
Is about the Clusters that we have built up in
industries based on
our core fundamentals of
Trust, Knowledge,
Connected and Life
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COMPANIES’ KEY TALENT CHALLENGES
Is about the Clusters that we have built up in
industries based on
our core fundamentals of
Trust, Knowledge,
Connected and Life
Home for Talent
Talent
An engine for economic
growth
Business Activities
Innovation
• Attract talent
• Develop talent
• Manage talent
• Find solutions for their human
capital needs
#2 Lack of Global Leaders with Asian Perspectives
#3 Lack of Capabilities in Talent Management
for Asia
#1 Global War for Talent
Vision: Singapore
as a place where companies
harness global talent
to drive business and innovation
for Asia and the world
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Home for Innovation Future-ready solutions for
Global and Asia markets
Home for Talent Global talent for Asia, and Asian
talent for global readiness
Home for Business Global-Asia Value Propositions
& Pan-Asian Integrator
Launchpoint for Asian Enterprises to Regionalise & Internationalise
First & Essential Base in Asia for Global SMEs
Home in Asia for MNCs
Singapore as the leading Global Business City in Asia
Global/International/Asian HQs, Control Towers, Differentiator Activities
Putting it all together
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