21331604-PEST-Singapore - INTERNATIONAL BUSINESS SCHOOL...

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Sem. I, 2008/2009 MRB1012 ECONOMIC ANALYSIS Assignment – PEST Singapore Business Environment Prepared By: Liew Yin Hoon MR081149 For: Dato’ Dr Mohd Taib Hashim 04 th -April-2009 INTERNATIONAL BUSINESS SCHOOL UNIVERSITI TEKNOLOGI MALAYSIA CITY CAMPUS, KUALA LUMPUR
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PEST – Singapore Business Environment Page 2 of 13 4. Using PEST analysis, analyze factors that influence business environment of a particular country that you are familiar with and discuss its limitations, if any. 1.0 INTRODUCTION Singapore is widely acknowledged as having one of the best business environments in the world – one of the world's most competitive (Institute for Management Development World Competitiveness Yearbook), most profitable (Business Environment Risk Intelligence Report), most transparent (Transparency International Survey), with world-class intellectual property protection and enforcement (World Economic Forum Global Competitiveness Report). The presence of many leading global companies and local enterprises here is a testimony to Singapore's excellence in manufacturing and services. There are more than 7,000 Multi-National Corporations in Singapore nowadays. Singapore is an attractive and competitive manufacturing location, possessing world class capabilities in the design, development and manufacture of cutting edge products for the world. As MNCs are always looking for the most cost efficient for its investment, Singapore’s high labour rate loses out to other developing countries e.g. Vietnam and China. As some manufacturers have left Singapore to other countries with cheaper labour, we can see the transformation from the manufacturing activities into trading and services. In addition, by leveraging on its strength as the regional hub for services such as logistics and education, Singapore is poised to become Asia's leading services hub, providing an array of world-class services. The following sections will analyse the factors (Politic, Economy, Social and Technology) that influence the business environment in Singapore and also its limitation. 2.0 POLITICAL/LEGAL Singapore is an enterprise friendly country. The government has set up several organizations in helping the business in a very systematic way. 2.1 Regulation Structure 2.1(a ) Ministry of Trade and Industry (MTI) The Ministry of Trade and Industry (MTI) has its vision to make Singapore a leading global city of talent, enterprise and innovation. Its mission is to promote economic growth and create jobs, so as to achieve higher standards of living for all. It was tasked with anticipating problems ahead, identifying opportunities for growth, rationalising existing policies and giving broad directions for the economy. The main tasks are categorized as below:-
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PEST – Singapore Business Environment Page 3 of 13 - Growing economy, - expanding trade, - developing industries, - fostering pro-enterprise environment Statutory boards are semi-independent agencies that specialise in carrying out specific plans and policies of the Ministry. One of such agencies under the
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This note was uploaded on 12/07/2011 for the course MBA 0001 taught by Professor Akshat during the Spring '09 term at Institute of Management Technology.

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21331604-PEST-Singapore - INTERNATIONAL BUSINESS SCHOOL...

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