singapore’s experience Paper must be at least 1250 words. Please, no plagiarized work! The government’s active use of the public sector as both an investor and catalyst for development has given rise to the characterization of Singapore as “Singapore Inc.” Through its government’s strategy, Singapore has evolved into a base for multinational companies (MNCs) to engage in high value-added manufacturing and product development, and coordinate regional procurement, production, marketing, and distribution operations. Singapore continues to have a sophisticated investment promotion strategy designed to attract major investments in high value-added manufacturing and service activities.
Even though there has been criticism for the availability of venture investment opportunities (Koh, 2002), the government policies are very friendly towards foreign investors who are subjected to some basic laws as local investors. The judicial system in Singapore is efficient in its decisions and their enforcement. Singapore has institutionalized and internationalized arbitration through the creation of arbitration bodies and ratification of international conventions. The intellectual property rights enforcement has also improved significantly since the early 1990s.
The Singapore government promotes its regulatory environment as one that is business-friendly, with transparent and clear regulations. Tax, labor, banking and finance, industrial health and safety, arbitration, wage and training rules, and regulations are formulated and reviewed with the interests of foreign investors and local enterprises in mind. Procedures for obtaining licenses and permits are generally transparent and not burdensome, but there have been occasional exceptions. Singapore has, and actively enforces, stringent anti-corruption laws and is known as one of the least corrupt countries in the world. The legal and regulatory system currently in place provides comfort to investors as compared to China. Earlier Singapore had restrictions on telecommunications, broadcasting, financial and other services industries that have been consistently reduced. .