business in asia

DOING BUSINESS IN SINGAPORE

BACKGROUND

Founded as a British trading colony in 1819, Singapore joined Malaysia in 1963, but withdrew two years later and gained its independence. It subsequently became one of the world’s most prosperous countries, with strong international trading links, (its port is one of the world’s busiest) and with a per capita GDP above that of the leading nations of Western Europe.

Singapore is located in the South-eastern Asia, islands between Malaysia and Indonesia. Because of this strategic location, Singapore has been known as a trading center almost continuously since the 7th Century, when it was a Sumatran seaport called Temasek. Singapore has probably gone through more changes in the last 30 years than any other country in the world.

Family life is particularly important to Asians. The socialization of children within the family creates powerful patterns, which will remain with your counterpart for life. You will be dealing with the families of your customers, employees, bankers, and other business counterparts.

Singapore was settled originally by male immigrants seeking work. Because they left their extended families behind, most families in Singapore consist of only one or two generations.

Today, Singapore is a modern multiracial state. Seventy seven percent of the population is Chinese; fifteen percent is Malay; six percent Indian or Pakistani; and two percent European. Singapore has four official languages: Malay, Mandarin, Tamil, and English. The national language is Malay and English is the primary business language. The three Asian cultures of Singapore, Malay, Indian, and Chinese, have been influenced by Western culture since the arrival of Portuguese traders in the Sixteenth Century. By the time the British dominated the island, some three hundred years later, local Asians were feeling the full brunt of western imperialism. Its aggressive mercantile spirit and confident Christianity left certain marks, such as the use of English for business.

GOVERMENT

Singapore is one of the world’s few city-states. A city-state is a small self-governed country, primarily dependent upon the commercial activity of a single city. City-states were common in the ancient world and the Middle Ages. Today only a few survive: Monaco, San Marino, and Singapore.

The political history of Singapore is closely intertwined with the person o...

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...gether with Asian talent, could help solve this problem. Movies could also be made in Mandarin, which is widely spoken throughout North and Southeast Asia. Singapore just launched Channel U, a new television channel in Mandarin, hoping to attract millions of viewers who speak that language. A substantial amount of young viewers in Singapore are bilingual and want more television shows in English and Mandarin, which means this audience would probably embrace movies in either language.

Competition in Singapore is scarce. A small company with adequate funding could be able to make movies that appeal to an extensive market.

Why do business in Singapore? Singapore is an attractive base for an Asian corporate headquarters because people speak English; it is less costly than Tokyo or Taipei and it does not have the political problems of Hong Kong. Singapore offers manufacturing corporations well-trained labor at reasonable wages. For traders it offers a free port. For international financiers the island provides a location, which bridges the time gap between business hours of major world stock exchanges. Finally, the government actively encourages foreign trade and investment.