In the early between 1960s and 1990s

In the early between 1960s and 1990s - CONTENTS 1...

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Unformatted text preview: CONTENTS 1 Introduction 2 Opportunity Australia Singapore Free Trade Agreement (SAFTA) Political Stability Economy of Singapore Economic Freedom Technological Environment Social and Culture 3 Risk Intense Competition Rising Inflation 4 Reference 1. Introduction On 17 February 2003 Singapore and Australia signed the Singapore-Australia Free Trade Agreement (SAFTA). The agreement further strengthens trade and investment links between Australia and Singapore. In addition to tariff elimination, the agreement improves increased market access for Australian business exporters. It also provides a more open and predictable business environment across a range of areas, including competition policy, government procurement, intellectual property, e-commerce, customs procedures and business travel. Overall it has improved conditions of access and open up the new market to the Singapore market for many Australian businesses. Singapore with the population of 4.5 million is the most well developed, prosperous country in Southeast Asia. Singapore official languages consist of English, Malay and Chinese. English is the language of administration and widely spoken. Currently the country GDP has 185.3 billion (Singapore Statics 2008) and per capita of 39952.44. Singapore economy is a highly successful and developed capitalist economy with little government intervention. While the service sector dominates the economy, the country is also a major manufacturer of electronics and chemicals. The most heavily trade-reliant country in the world, Singapore also has led the global trend toward bilateral and multilateral free trade agreements. In the early between 1960s and 1990s, Singapore emerged as one of the four Asian Tigers for maintaining high economic growth rates and rapid industrialization (William Dean Kinsley, 1991). Although Singapore economy faced was hard hit from 2001-03 by the global recession and by an outbreak of Severe Acute Respiratory Syndrome (SARS) in 2003(World fact book 2008), which plumed economic growth rate and consumer spending, it retained back the economic growth rate in 2005. According to the Heritage Index of Economic Freedom (2008) Singapore ranks 2 nd freest economy in the world. .Due to the efficient administration and clean governance, starting a business takes an average of five days, compared to the world average of 43 days. Obtaining a business license takes much less than the world average of 19 procedures and 234 days. Economic freedom bring ease of doing business in Singapore, however it’s also make the market competition intense. Several Solar MNC such as Renewable Energy Cooperation have invested in Singapore. In addition to intense market Singapore currently face a rising inflation which harms investor’s confidence. The papers use PEST analyse about the opportunity and risk that company face in term of establishing a solar panel in Singapore market. 2. Opportunity 2.1 Australia Singapore Free Trade Agreement (SAFTA) The Australia Singapore Free Trade Agreement is signed by the Mr Mark Vaile...
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This note was uploaded on 05/12/2010 for the course COMMERCE finc at University of Sydney.

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In the early between 1960s and 1990s - CONTENTS 1...

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