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Category: Economy

    Singapore Boosts Ties with Israel

    Working with other countries can be quite beneficial, especially if both countries have mutual results that they want to accomplish. This level of support and camaraderie has been seen between Singapore and Israel over the last few months. Together, the countries decided that working with one another would give residents many more opportunities and help both areas to succeed.

    Research between the two countries is set to become quite prevalent as the National Research Foundation and the Israel Hebrew University put a deal together in order to create a research center in Singapore. This will help to improve collaborations towards innovation, increase access to scholarships, offer more entrepreneurship opportunities, and improve postdoctoral and postgraduate training opportunities. The program will be named SHARE which stands for the Singapore-Hebrew University Alliance for Research and Enterprise.

    Along with the added opportunities available to Singaporean residents and Hebrew nationals, both universities agreed to work together in a deeper sense to improve their research capabilities.

    Prime Minister Lee was on a business trip in Israel and was the guest of honor at an event at the Hebrew University where he received an honorary doctorate. This was a gift in return for his leadership, civil reform ideas, and the economic growth that he has brought to his country. During his speech, Prime Minister Lee stated Israel has a variety of different influences on Singaporean culture. First, he touched on the ways Israel had helped to train the Singapore Armed Forces right after they became an independent nation in 1965. He stated that Singapore will always remain grateful for the time that they spent to help develop their army.

    For years the two countries have had a relationship that stood far beyond defense and security, particularly in terms of improving technological research. Students have always been able to find different business opportunities between each country with ease. Since 1997, research and development foundation from Singapore and Israel has given 150 projects over $170 million in grants and funds.

    Mr Lee also took the time to talk about how renowned the Hebrew University is and how they have produced 8 different winners of the Nobel Prize, and a variety of prime ministers and presidents that are leaders across various industries. He also mentioned how Albert Einstein saw such success in the university that he had visited Singapore to entice them to donate for further education, the country agreeing to provide $300,000 towards their learning.

    The main purpose of this innovative center is to help promote a better environment for Israel and Singapore residents to where they have more opportunities to visit each country. With the ample amount of technological opportunities across a variety of industries, the two areas will be able to collaborate to achieve great things. At the end of the day, Israel’s history is something that has always inspired the country of Singapore and they are more than interested in improving relations and offering an ample amount of opportunities for residents of both countries to use to their advantage.

    22 May

    Singapore’s manufacturing activity improves in March

    As much a part of the modern global economy as any other nation in the world (and some would even say a cornerstone as far as business innovation and government friendliness towards business is concerned), it’s nice to see that the manufacturing base in Singapore has improved dramatically in the early quarter of 2016.

    Though Singapore has made great leaps forward to try and modernize their workforce, to focus on developing new technology and new innovations that allow people to pursue careers and business opportunities in the “knowledge worker” industries, manufacturing is still a critical backbone of every national economy.
    Singapore has been dealing with a little bit of contraction as far as national manufacturing is concerned, which is why its growth in March has been so well received!

    New PMI shows a 0.9 increase in 30 days

    As we mentioned above, the Singapore economy (at least as far as manufacturing is concerned) has been contracting a bit as of late – receding down to 48.5 Purchasing Managers Index, representing a new low point and a downward trend that had been continuing for nine straight months. However, the new research published regarding the PMI in March shows a 49.4 – the 0.9 increase that we had mentioned above.

    Even though a reading that hovers below 50 indicates a manufacturing base that is still contracting (and anything over 50 shows that the manufacturing base is expanding), the new number – 49.4 – is close enough to 50, the neutral position that shows that the manufacturing base is staying steady.

    Employment growth is still a relatively stagnant, though it isn’t contracting

    Not all is sunshine and roses when it comes to the recent improvement in the manufacturing activity of Singapore, however.

    Employment growth in this sector is still relatively stagnant. Manufacturing jobs are opening up but not at the kind of rate that the Singapore government would have liked to have seen by now, though the nine straight months of contraction has definitely played a part in this stagnation.

    At the same time, the manufacturing sector isn’t losing jobs – it just isn’t creating as many new positions as economists in Singapore would have liked to have seen by now. This is putting Singaporean a better position than some of the other more manufacturing heavy economies around the world, and shows the Singapore investments in new technology, a new training, and in infrastructure are paying dividends.

    It would be nice to see an explosion in growth as far as the manufacturing economy in Singapore is concerned, but that may still be a ways away.
    New partnerships with the government of India will go a long way towards improving that economic base, and they are our conferences occurring all throughout Southeast Asia (and the rest of the world) with the express purpose of improving the manufacturing climate for all nations involved.

    For the time being, it looks as though the manufacturing industries in Singapore are growing slowly – the only time will tell exactly how long term this turnaround really is.

    22 May

    Govt commits S$19b to new 5-year plan for R&D

    The government in Singapore is getting very, very serious about improving their economic footprint in their general economic base by investing heavily in here own infrastructure and their own innovation.

    Just recently (January 2016) the Prime Minister of Singapore went so far as to announce a five-year investment of close to $20 billion that would help fund a tremendous amount of innovation and research designed specifically to help Singapore-based businesses compete on an international level.

    Representing an 18% jump from the previous investment made in research and development from the Singapore government, the $19 billion that will be funneled into these projects will be used to help create new jobs, help support major national initiatives, and provide for an incredible amount of growth in the economy of Singapore.

    Prime Minister Lee Hsien Loong is very serious about making sure that the future of Singapore is just as bright and shining as the last two or three decades have been

    Over that 30 year period of time, Singapore has established itself as a tremendous force in the international business community and the real gem of Southeast Asia.
    Certainly one of the most technologically advanced and business friendly countries on the planet, Singapore has been able to leverage its business focused government initiatives to attract business from all over the world and convince them to invest heavily in this Southeast Asian country.

    At the same time, the people of Singapore understand better than most that the world is changing rapidly and that a heavy investment in technology and infrastructure is absolutely essential.

    Already one of the most connected countries on the planet, the infrastructure in Singapore will be upgraded significantly through this kind of investment.

    Distributed over a five-year chunk of time, these funds could grow considerably depending upon the return on investment

    A big push behind this major investment of $19 billion is the fact that Singapore has just recently begun to notice their economy slowdown in just the last two or three years.

    Even though they are dealing with anywhere near the economic crisis that many countries around the world dealt with in your lead to mid to thousands (and they are about as far away from Greece as humanly possible), the economy has slowed by between 1% and 3% – and the Singapore government just isn’t satisfied with this kind of trend.

    The Prime Minister has been pretty upfront and honest about doing absolutely everything in his power and the government’s power to grow the economic base of Singapore in the next 10 years, and he has alluded to the fact that this 19 billion-dollar investment may grow considerably over the next five years. This will depend upon the returns that the business community and the economy enjoy, obviously.

    It wouldn’t at all be unreasonable to imagine this investment to grow exponentially in the future and become a main “injection point” in the Singapore economy. After all, we are talking about one of the most business friendly countries and governments on the planet!

    14 May

    Singapore ranks sixth in intellectual property environment index

    According to information published by the US Chamber of Commerce, Singapore is one of the highest ranked nations in the world (certainly one of the highest -ranked countries in all of Southeast Asia) when it comes to the intellectual property environment index.

    This index is designed to illustrate how advanced a country is as far as respecting intellectual property rights are concerned on in international level. With the modern economy revolving more and more around “knowledge workers” as opposed to manufacturing and more traditional business models, nations have had to get more and more involved when it comes to intellectual property rights – though some have adapted to the modern economy much faster than others.

    Singapore ranks sixth out of the 38 economies that were studied

    Though the raw data has yet to be released by the US Chamber of Commerce, the final report has been introduced to the international community and it has Singapore ranked sixth out of the 38 different economies and nations around the world that were studied.

    Ranking just behind the United States, the United Kingdom, France, Sweden, and Germany the nation of Singapore – constantly regarded as one of the smaller economies (yet growing quickly) – has been adapting to the modern international economy much faster than many other nations around the planet.

    It’s a government has always been incredibly friendly to businesses established by its citizens as well as those established by citizens of the world, and many of the laws, rules, and regulations of this country have been established specifically to foster commerce, to help grow businesses, and to provide companies all over the world the opportunity to expand their operations globally with as little headache and hassle as possible.

    At the exact same time, Singapore has worked to establish a tremendous infrastructure and invested heavily in their modern connectivity technology so that they are able to leverage everything that the Internet has to offer as far as business is concerned.
    This is especially important when speaking about intellectual property, as a significant portion IP ends up being licensed or sold online these days.

    There are still issues in Singapore preventing them from climbing higher

    Even though Singapore was able to score quite highly when it came to having an advanced a national intellectual property protection framework already in place, a patent enforcement legal framework that has been applied fantastically, and an infrastructure that allows them to effortlessly support intellectual property holders, they still have relatively high rates of intellectual property crime and piracy.

    Most developed nations that have the majority of their citizenry connected to the Internet are dealing with high rates of intellectual property crime and piracy however, and this trend doesn’t look like it’s going to slow down anytime soon.

    There will need to be major innovations as far as IP protection and new business models that fight piracy before any of the top 10 countries in this ranking see the piracy levels drop by a measurable amount, and it’s impossible to know when (or even if) those kinds of changes will be made.

    26 Apr

    Singapore’s Media Sector Will Get Boost to be Future-ready

    An organization named the Media Development Authority of Singapore is known as the MDA for short and it’s involved with a new initiative which is designed to prepare the entire media industry of Singapore for a brighter, more productive future.

    On April 11, 2016, the Singaporean Minister for Communication and Information formally announced this new initiative, which will be slated to run fully by the end of this year.

    Today, we’re going to share some of the most interesting aspects of this new media push. Singapore is moving into the future and anyone who wants to work in media will benefit from discovering the power and potential of the new program. It’s a great program which was designed carefully in order to fill a need.

    One key feature of this new media program is an awards system, whereby three hundred SkillsFuture Study Awards will be given to worthy persons by spring of 2017. The program is all about making it possible for the media sector in this independent state to make fresh content for the most cutting-edge media platforms.
    These awards help worthy recipients to move closer to their media career goals. The awards are for those who work in info-communications and design or have aspirations to succeed in these fields. Each award has a value of five thousand dollars.

    Learning Labs Will Open
    Another facet of the program is Creator’s Space, via One-north. One-north is a venue which will host a trio of practical and exciting content development programs, one of which is the Story Lab, which is a place for writers to draft stories. Later, a Writer’s Lab will open which is designed in order to foster achievement in scriptwriting for TV. In addition, a Games Solution Centre will be founded at the same location and this part of the program will focus on supporting local game firms.

    Having all of these programs at one location is a strategic decision which is meant to help media companies become very competitive in an independent sense. It’s all about making collaboration easy and straightforward. This venue promises to be a hub for media types and a great place to network and find the right partners and friends. It will be a welcoming and inspiring environment, where technical know-how and creativity walk hand in hand.
    As you can see, things are really happening in Singapore. The government believes in its people and take steps to help them achieve all of their goals. In addition, Singapore offers a range of other incentives to citizens and investors. It’s a place of opportunity which provides great quality of life, low crime rates and a beautiful environment.

    How to Learn More
    To stay abreast of changes and innovation in Singapore, sign up for Google Alerts for this topic and bookmark our website today. We share lots of topical and useful information about Singapore and cover a lot of different aspects of Singapore life, from culture to notable people to business investment for foreigners and beyond.

    19 Apr

    S$120 million plan to grow talent pool in growing infocomm sector

    To say that the Internet has totally transformed our day to day lives may be the understatement of the century.

    What was once believed to be nothing more than a passing fad, our lives are far more intertwined and connected because of the reach of the web, with many of our day to day activities completely transformed through the use of this advanced technology.

    The world of communication has changed forever, the business landscape is a completely different beast than it ever was in the past, and there are more opportunities for people to take advantage of advanced technology and connectivity today – and likely even more available in the future.

    The people of Singapore understand all of the advantages that online connectivity has to offer more than most. This country has always been forward thinking and focused on utilizing the most advanced technology available to improve their economy, to build their nation, and to foster global relationships – and they are now gearing up to push a flood of funding into Internet focused technologies to create even more opportunities for their citizens.

    The Internet has completely transformed the financial opportunities available to everyone connected to the web

    As we touched upon above, the online connected world today has completely transformed the financial opportunities available to anyone and everyone that can connect to the Internet.

    Old barriers of entry to business have completely crumbled and fallen by the wayside, and now it’s possible for literally ANYONE to create a global business in about a half an hour – provided that they have a laptop, a credit card, a domain name, and an active online connection.

    The Info Commerce Industry is absolutely exploding with opportunities, and it gives everyone the chance to create the financial future that they’ve always dreamed of with next to no investment of funds.

    The global info commerce industry is regarded as a multibillion dollar industry and only growing larger on a regular basis. The people of Singapore are pouring into this arena left and right, utilizing the amazing high-tech infrastructure and benefits that their government has provided to squeeze every drop of success out of this opportunity possible.

    On top of that, the Singapore government is making it even easier to get involved in the info commerce industry with a major round of investing coming up.

    Singapore is gearing up a tremendous flood of funds to help grow their local talent pool focusing on the info commerce sector

    According to information released by the Singapore government, there is going to be a major investment of close to $120 million to help grow, foster, and nurture new jobs and positions in the info commerce industry over the next four years.

    The Singapore government is hoping to create 30,000 new jobs by 2020 with this major investment, though industry insiders already anticipate that they’ll be able to hit this number in about half that time.

    This test pilot project is the kind of forward thinking maneuver that the Singapore government is known for. Always investing in their economy and in their citizens, it wouldn’t surprise anyone if the $120 million investment grew significantly by the time 2020 rolls around.

    29 Mar

    Singaporeans celebrate life, legacy of Lee Kuan Yew at events across the island

    If you’re fond of Singaporean culture, you’ll enjoy learning about the life and legacy of Lee Kuan Yew. This esteemed Singapore native was recently celebrated all over the island, due to the anniversary of his passing, which happened in spring of 2015. Today, we’re going to talk about why this person’s life had so much meaning to so many and why he continues to inspire after his death…

    Lee Kuan Yew Had Vision
    Mr. Lee believed in Singapore and he showed his love for this beautiful city by embracing policies which helped to make it a cleaner, greener place, as well as a tolerant and accepting place to dwell. He believed in meritocracy. This is to say that he believed that people should be judged based on their contributions to society, rather than how much money or status they were born to.

    Today, fans of this esteemed Singaporean continue to believe in his high ideals and promote them. In this sense, his legacy lives on and will probably never die. Mr. Lee worked as an MP in Singapore for an extraordinarily long time. His career as MP started in 1959 and he remained in this position until his passing. To mark his passing and his legacy, fans and friends alike gathered at the Tanjong Pagar Community Club’s pottery group, where pottery artwork inspired by him was proudly displayed by members.

    The pottery tribute is called, Everlasting Love and it celebrates the long-lasting romance between Mr. Yew and his wife. Also, a special species of orchid were named for the pair and these lovely blooms will be available for viewing at the Tanjong Pagar Plaza.

    Lots of local politicians went to the tribute and then wandered towards Duxton Plain Park. When they arrived, they planted a cluster of Mempat trees in his honour. This type of tree has special significance, as it was planted by Mr. Lee way back in the early 1960s, at the launch of an innovative, tree-planting initiative.
    These days, Singapore is a wonderful place to live. It’s got the world’s lowest murder rate, the people are devoted to physical fitness and other aspects of a healthy lifestyle and new business opportunities are opening up each and every day. Mr. Lee is part of the reason why Singapore has such a wonderful and well-deserved reputation. He symbolized everything that was positive about this region and he’ll continue to serve as an inspiration for others in the city. We refer to Singapore as a city here, as many do, but it’s actually an independent state!

    How to Learn More
    There are quite a few media resources which mention this important man online. Be sure to check them out if you want more details about his life and myriad achievements. As well, if you’re in Singapore, be sure to visit the tributes or find a way to pay your respects to Mr. Lee. Since he represents the most progressive and humanistic values, he’s definitely someone who brought more peace, love and prosperity to Singapore. For this reason, we are more than proud to discuss his life and legacy here today.

    29 Mar

    Singaporeans celebrate life, legacy of Lee Kuan Yew at events across the island

    If you’re fond of Singaporean culture, you’ll enjoy learning about the life and legacy of Lee Kuan Yew. This esteemed Singapore native was recently celebrated all over the island, due to the anniversary of his passing, which happened in spring of 2015. Today, we’re going to talk about why this person’s life had so much meaning to so many and why he continues to inspire after his death…

    Lee Kuan Yew Had Vision
    Mr. Lee believed in Singapore and he showed his love for this beautiful city by embracing policies which helped to make it a cleaner, greener place, as well as a tolerant and accepting place to dwell. He believed in meritocracy. This is to say that he believed that people should be judged based on their contributions to society, rather than how much money or status they were born to.

    Today, fans of this esteemed Singaporean continue to believe in his high ideals and promote them. In this sense, his legacy lives on and will probably never die. Mr. Lee worked as an MP in Singapore for an extraordinarily long time. His career as MP started in 1959 and he remained in this position until his passing. To mark his passing and his legacy, fans and friends alike gathered at the Tanjong Pagar Community Club’s pottery group, where pottery artwork inspired by him was proudly displayed by members.

    The pottery tribute is called, Everlasting Love and it celebrates the long-lasting romance between Mr. Yew and his wife. Also, a special species of orchid were named for the pair and these lovely blooms will be available for viewing at the Tanjong Pagar Plaza.

    Lots of local politicians went to the tribute and then wandered towards Duxton Plain Park. When they arrived, they planted a cluster of Mempat trees in his honour. This type of tree has special significance, as it was planted by Mr. Lee way back in the early 1960s, at the launch of an innovative, tree-planting initiative.
    These days, Singapore is a wonderful place to live. It’s got the world’s lowest murder rate, the people are devoted to physical fitness and other aspects of a healthy lifestyle and new business opportunities are opening up each and every day. Mr. Lee is part of the reason why Singapore has such a wonderful and well-deserved reputation. He symbolized everything that was positive about this region and he’ll continue to serve as an inspiration for others in the city. We refer to Singapore as a city here, as many do, but it’s actually an independent state!

    How to Learn More
    There are quite a few media resources which mention this important man online. Be sure to check them out if you want more details about his life and myriad achievements. As well, if you’re in Singapore, be sure to visit the tributes or find a way to pay your respects to Mr. Lee. Since he represents the most progressive and humanistic values, he’s definitely someone who brought more peace, love and prosperity to Singapore. For this reason, we are more than proud to discuss his life and legacy here today.

     

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