Can the Singapore Model

Work for Your Country or

City?

Leong Sze Hian, President

Society Financial Service Professionals, Singapore
Singapore Accolades
World’s 3rd overall competitiveness
World’s 2nd top country for investment potential
World’s 2nd freest economy
Most cost-competitive place for business
World’s easiest place to do business
1st in the world for quality of air transportation
4th most vital international air travel hubs
Best quality for port infrastructure
2nd most technologically ready nation in Asia
Top 20 business environments
World’s 13th E-ready country
Singapore Accolades
World’s most globalised nations
2nd country brand for nightlife/dinning
The best place to live for Asia expatriates
Least bureaucracy and red tape in Asia
Perceptions of corporate governance standards
Asia’s highest integrity government
World’s 2nd most ‘Network Ready’ country
Best labour force
2nd most attractive environment for highly- skilled
foreigners
4th most attractive investment incentives in Asia
4th least restrictive immigration laws for
enjoying foreign labour
Problems:

154th out of 167 Countries -

Press Freedom (Freedom House)
40th out of 41 Countries - Libido
130th out of 178 - Happiness
105th – Income Equality
Fastest Walkers in the World
 Problems:

2 Highest Work-Related Stress in

nd

Asia
15th out of 16 Countries - Asia
Democracy Index
Independence in 1965
700 Square Km Island
No Resources
40% Unemployment
Racial, Labour Riots, Bombs
Corruption, Secret Societies (Mafia)
 Model

1960s - Caribbean Nation was Role Model

for Singapore
West Indies University Professor's
Research
Bedrock of a Sustainable Society is

Economic Development
Singapore Inc. (Multinational Corporation)
What is Good for Business is Good for
the Country
No Minimum Wage, No Welfare, No

Unemployment Benefits
No National Healthcare, No Strikes
(Tripartite -Unions, Employers,
Government-Unions Minister (NTUC))
Most FTAs (13 Free Trade
Agreements, 9 in Process)

Usual Tax Incentives, Open Labour,

Open Capital, etc.

Go to Great Lengths to Help Foreign

Businesses - No Overtime, Time-Off
Instead, Reduce Pensions Contributions
Profits for Utilities, Transport,
Everything

To Compete Globally- Workfare

Incentive Scheme (30% of Workers
Declining Wages)

Charities, Welfare - Volunteer Private

Sector

Team Singapore - Debate, Dissent,

Consensus
Sustainable Society Only If
There is Peace

Non-violence, Mandatory Death

Drug Traffickers, 5th in the
World Prisoners Per Capita

Corruption Hotline - Penalty

versus Ease of Being Caught
Now Market Public/Private Sector
Services
20 Projects in Asia Middle East
Infrastructure – Metro Systems
Hottest Technology – Potable
(Drinkable) Water for Rural
Townships in Developing
Countries