Return to GVPedia

Thursday 17 May 2012

You are here:

Best of Singapore

Tony Tan Keng Yam_President of Singapore

Tony Tan Keng Yam, President of Singapore

Flag of Singapore

RSS News Feeds

Unable to connect to external RSS feed.

Social Bookmarking

Best of Singapore Volume 4 eBook (please click to view)

Overview of Singapore

 

There is something to be said about a country that has achieved tremendous economic success in barely half a century – despite having no natural resources and only 700 sq km of land space. The tiny nation of Singapore has literally gone from third world to first in a single generation.

 

Located just north of the equator, Singapore epitomises excellence in all that it does. The country has been lauded on the international stage for its infrastructure and industry sectors like healthcare that have been deemed world-class.

 

When the financial crisis hit Singapore in 2009, the government acted swiftly and implemented policies such as the Jobs Credit Scheme, which was introduced to encourage businesses to preserve jobs in the downturn by offering employers cash grants to alleviate staff costs. Springing into action quickly proved effective as Singapore managed to weather the storm and bounce back quite fast while many other countries were still mired in recession.

 

In fact, the country was pegged as the fastest growing economy in the world, with a growth rate of 17.9% for the first half of 2010. This was buoyed by a gross domestic product estimated at S$303.7 million for the entire year. 

 

Through such forward-thinking policy design, Singapore has secured an enviable position as the world’s most probusiness country. It has been ranked top in terms of the overall ease of doing

 

business by the World Bank consecutively from 2008 to 2011. Whether it is starting a business, securing credit, cross-border trading, employing workers or protecting investors, Singapore ranked within the top 10 in each of the categories. It is thus no surprise that Singapore is today home to 7,000 multinational companies and a thriving community of small & medium-sized enterprises. 

 

Since 1995, Singapore has also consistently been ranked the second freest economy in the world by the Heritage Foundation’s Index of Economic Freedom, which rates countries according to 10 economic measurements. As a very vocal global advocate of free trade, the city state has also been highly active in forging Free Trade Agreements with countries and regional groupings, evidenced by several bilateral and multilateral trade agreements worldwide.

 

Indeed, Singapore is today a hub for finance, research and development, manufacturing, shipping, education, technology, healthcare, and a range of other industrial and economic activities. Aptly termed a gateway to the East, Singapore’s standard of living and economic achievement is

 

admired by many countries in the world. This recognition was hard won by generations of citizens descended from early immigrants who had only intended to make a transient living here before returning home with their ‘newfound’ wealth. But eventually, they chose to stay and build a nation. And this nation has grown by leaps and bounds, underscored by numerous achievements to date.

 

 

The World’s Best

 

The pride of the nation is certainly Changi Airport. Among its international accolades, Changi Airport has been named the best in the world almost 300 times since opening in 1981. The airport is a benchmark for efficiency and service excellence, having been consistently named the best in a range of categories such as customs clearance time, security, services, retail, dining facilities and many others. World-class innovative systems are also in place at Changi Airport. For instance, the Immigration & Checkpoints Authority’s Enhanced Immigration Automated Clearance System is the first biometric system in the world for secure immigration clearance at the checkpoints. The system tackles the challenge of increasing visitor traffic volume, without compromising on security.

 

Singapore also boasts one of the best ports in the world, upholding its roots as a dominant port of call. The city was the world’s busiest port for many years till 2010, when it was overtaken by Shanghai. In terms of TEUs (twenty-foot equivalent units) handled, Singapore was just half a million short behind the Chinese city, with 28.6 million TEUs going through its port.

 

Lauded for its efficiency, Singapore’s transportation system is another model for modern

  

cities. An intricate but efficient network of buses, trains and taxis serve the nation. Other than the peak hour morning and evening traffic jams around the central business district and key expressways, traffic is generally smooth. Traffic congestion on the small island was eased largely thanks to another effective government initiative – the electronic road pricing (ERP) system. Singapore was the first city in the world to implement the ERP system and the model is now being studied by other cities.

 

 

Melting Pot of Cultures

 

As Singapore’s forefathers were largely immigrants from around the world, Singapore is a mix of cultures and religions, woven together by a common respect and understanding. One only has to visit Chinatown, Little India and Geylang Serai to witness this rich cultural and religious heritage that Singaporeans have preserved and cherished.

 

Tourists and visitors are treated to a melting pot of diverse cultures as Singaporeans maintain their distinct religious, cultural and racial identities while co-existing in peace and harmony. The majority of Singaporeans are Chinese, but Singapore is also home to sizable Malay and Indian communities, all living together with a common national identity. The country has four official languages: English, Mandarin, Malay and Tamil. Malay is the national language – a special recognition for the historic legacy of the Malays in this region. The national anthem, “Majulah Singapura”, is in Malay.

 

 

With a population that has just surpassed over 5 million people spread across only 700 sq km of space, Singapore is the third most densely populated nation in the world. The major religions of the world, namely Buddhism, Christianity, Hinduism and Islam are significantly represented in Singapore. Interestingly, more than 20 percent of the populace constitutes foreigners. Singapore is a firm believer in imported talent. Many who come to work in Singapore eventually decide to call it home – a testimony to its attractiveness as a place to work, live, play and raise a family. Well-heeled foreigners who have decided to relocate here even include a few high profile celebrities from the region who have attained Singapore citizenship in recent years.

 

Singapore’s evolution in the span of a single generation is simply staggering. Its economic and political stability, mature infrastructure, high quality of life, safe and secure environment, and extremely low unemployment rate have certainly made Singapore a model city the world over.

 

History of Singapore

 

In the jungle, the lion takes its place at the top of the food chain. Singapore’s name literally means “lion city” – “singa” for lion and “pura” for city in Sanskrit. Perhaps when 13th century Indonesian Prince Sang Nila Utama stumbled upon the island and christened it “Singapura”, he had a prophetic premonition of the potential for it to be a great city among cities. 

 

The legend goes like this: During a hunting trip to one of the Indonesian islands, Sang Nila Utama spotted a deer and started chasing it. The deer led him to a very large rock. When he reached the top of this rock, he saw across the sea another island with a sandy beach. His minister told him that the island was Temasek. The prince decided to visit the island and during the trip, the ship encountered a great storm and began to take in water. The men threw all the heavy things overboard to lighten the ship, but to no avail. The only heavy item left on the ship was the prince’s crown. The prince decided to part with it and almost magically, once the prince threw his heavy crown overboard, the storm abated and the ship reached Temasek safely. Sang Nila Utama landed at the mouth of the present-day Singapore River and ventured into the forest to hunt. Suddenly, he saw an animal that he had never seen before. It was a big, strong and majestic predator. It sped off quickly and disappeared into the jungle. The prince’s chief minister told him that the animal was a lion. Thus was the island’s name born. Sang Nila Utama ruled Singapura for 48 years and is believed to have been buried on the island at Fort Canning Hill.

 

 

A Former British Colony

Modern Singapore owes much to Sir Stamford Raffles, a British statesman who played a role in the expansion of the British Empire in Southeast Asia. During the Napoleonic Wars, Raffles helped conquer the island of Java from the Dutch and French forces. At that time, the Dutch were controlling the trade route between China and India. The Dutch prevented the British from extending their economic hegemony by either prohibiting them from operating at Dutch ports or charging high taxes. What the British needed was a new port along the Straits of Malacca. Raffles landed in Singapore on 29 January 1819. The island’s geographical position, at the southernmost tip of the China- India trade route, made it perfect for British designs. There was a small Malay fishing village on the island then, numbering about a few hundred inhabitants.

 

At the time, the island was ruled by the Sultan of Johor, Tengku Abdul Rahman, who was controlled by the Dutch. However, the Tengku’s position with the Dutch was tenuous. Raffles offered the Tengku British recognition as the rightful ruler of Johor and a yearly payment in return for allowing the British to establish a trading post in Singapore. A formal treaty to this effect was signed on 6 February 1819. A subsequent treaty later handed over the entire island to the British East India Company.

 

 

Then in 1867, Singapore was made a British colony. For one-and-a-half centuries after its establishment, Singapore thrived thanks to bustling trade and a continued influx of workers from China, Malaysia, India and Europe. Singapore’s geographical position has certainly played a crucial role in its history. The country owes its current international standing to the growth and success of its port. Situated in the centre of Southeast Asia, Singapore’s geographical land mass is shielded from natural disasters such as tsunamis. It is also very fortunate to not be at risk of earthquakes. Its position as a hub for the China-India trade route has since been supplanted by a grander purpose – as a hub between the Eastern and Western worlds, with major multinational corporations establishing their Asian headquarters in Singapore.

 

Gaining Independence

World War II played a defining role in Singapore’s history. The Japanese army invaded Malaya in 1942 and eventually reached Singapore. The British, with their forces concentrated in Europe, were defeated in Singapore. During the Japanese occupation, there was widespread manslaughter in Singapore and the war illustrated to Singaporeans the need to retain control of their own destinies. Elections followed, in which two individuals rose to prominence – David Marshall, Singapore’s first Chief Minister, and Lee Kuan Yew, the leader of the People’s Action Party that won in a landslide victory in 1959. Lee has been widely credited as the chief architect of the Singapore we know today. In 1963, Singapore declared independence and joined the Federation of Malaysia. This union was short-lived however. Due to political differences, Singapore separated from Malaysia in 1965 and became a sovereign nation.

 

 

Footer Information:

Home