U.S. Commercial Service, Singapore
The Red D T
Dan Thompson
U.S. Commercial Service
Singapore
April 2010
What It Is,
and Why It’s Still
HOT!
U.S. Commercial Service, Singapore
SINGAPORE
Top 10 Things You Should Know
1.
It’s not in China
2.
The language is English
3.
Easy to do business
4.
Stable, developed economy
5.
Great FTA
6.
35.5k per capita GDP
7.
Small country, global hub
8.
Regional Gateway
9.
Best place for NTEs
10. 11th largest export market
U.S. Commercial Service, Singapore
• Total land area
240 sq. miles
• Population – 4.99 million
Major ethnic groups –
Chinese, Malays and
Indians.
• Climate – Hot and
Hotter
• Language - English,
96% literacy
English as first language
• GDP – $177 Billion
Singapore at a glance
India: 1.1 bil pop
GDP(2005): US$730bil
SE Asia: 560 mil pop
GDP(2005): US$1,200bil
Australasia: 25 mil pop
GDP(2005): US$810bil
China: 1.3 bil pop
GDP(2005): US$2,200bil
U.S. Commercial Service, Singapore
• English Speaking
• Per Capita GDP US$35,515 in 2009
• Corruption Free
• U.S. Style of Doing Business
• Rule of Law
• Close Ties with the U.S.
• World Bank: Easiest country to do business
• Free Trade Agreement
Why Singapore?
U.S. Commercial Service, Singapore
Singapore: Small Country, Global Hub
• Logistics – busiest container port
• Aviation – airlines, maintenance
• Oil Refining – world’s 3rd largest
• Financial – forex, funds
• Education – global universities: NUS, NTU, SMU
• Medical, Bioscience – health care, research
• Chips – wafer fabrication
• Pharmaceuticals – manufacturing and R&D
• MNC – 7,000 MNCs, 1,500 U.S. -- expat magnet
U.S. Commercial Service, Singapore
The U.S. in Singapore
Plus 1490 more!
U.S. Commercial Service, Singapore
U.S. Foreign Direct Investment
in Singapore (Historical-Cost Basis)
Total U.S. FDI in Singapore at the end of 2008 was US$106.5 billion
– Largest FDI in Asia and Pacific
– 10th largest FDI in the world
2008
(US$Billion)
China
45.7
Japan
79.2
Source: USDOC/BEA
U.S. Commercial Service, Singapore
1960s
Labor-intensive
1970s
Skills-intensive
1980