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Singapore November 2010

Singapore November 2010. Why Singapore? Comparatively low risk environment. Political stability A model of economic development No/low natural disasters 700+ British companies Nearly 30,000 British residents Population 5.08 million (2010). Strong economic environment.

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Singapore November 2010

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  1. Singapore November 2010

  2. Why Singapore?Comparatively low risk environment • Political stability • A model of economic development • No/low natural disasters • 700+ British companies • Nearly 30,000 British residents • Population 5.08 million (2010)

  3. Strong economic environment • World’s easiest place to do business - World Bank, Doing Business Report 2010 • World’s most competitive nation - IMD, World Competitiveness Scoreboard 2010 • World’s 2nd Economic Freedom Ranking, The Heritage Foundation Index of Economic Freedom 2010 • World’s 3rd most globally competitive economy and 1st in Asia - World Economic Forum, Global Competitiveness Report 2009/2010 • Best Labour Force – BERI 2009

  4. Strong economic environment • Strong growth historically and predicted for the future • Biggest fiscal stimulus package in the world (8% of GDP) • No national debt - strong reserves • UK’s 13th largest export destination • EU-Singapore FTA negotiations started in March 2010 - should encourage further trade and investment • 18 FTA already in place including ASEAN (it includes Brunei, Indonesia, Malaysia, Philippines, Singapore, Thailand Cambodia, Laos, Myanmar and Vietnam.

  5. Strong economic bounce back • Strong bounce back from V-shaped recession – double-digit (18%) expansion in 1st half of 2010 • Official forecast, economy to grow 13 – 15% in 2010, revised from 7%-9% • British companies well positioned to take advantage of recovery • Price sensitive market, but exchange rate in our favour • Good test bed for wider Asian market - the growth market of the future

  6. The business environment • Only SE Asian country with English as first language • Legal system based on British common law • Open and transparent procurement processes - all government tenders published on www.gebiz.gov.sg • Open immigration policy • Good transport and communications across the island • Easy to set up business here • Quick business decision making • Favourable regulatory environment

  7. Business friendly tax regime • Corporate tax rate: 17% (YA 2010) • Capital gains tax: Nil • Withholding tax: - Dividends - Nil - Royalties - 10% - Interest - 15% • 1 year carry back + unlimited carry forward of tax losses & capital allowances • Group relief system • Tax exemption for foreign dividends, branch profits and service income • Tax incentives available

  8. Strong protection of intellectual property Singapore is signatory to major IPR conventions & treaties World Intellectual Property Office World’s second strongest IP regime and first in Asia Global Competitiveness Report 2008-09 Berne Convention Madrid Protocol • Value of Strong IP Laws • High Value Manufacturing Protected • R&D Protected • IP Licensing - incentives for IP managed out of Singapore Paris Convention Budapest Treaty Trade Related Aspects of IPR (TRIPS) Patent Cooperation Treaty (PCT) Nice Agreement

  9. The regional hub? • Springboard to Asia • 7,000 multinationals • 4,000 Asian enterprises • English speaking • 98% literacy • English as first language • Open immigration • > 1.3M non-Singaporeans out of 5M population • Pro-Business • Lowest risk business hub • #1 labour force

  10. China 1.3 billion India 1.1 billion SE Asia 560 million Australasia 25 million Half the world’s population within a 7 hour flight

  11. The world’s busiest port • World’s busiest port by container volume • and tonnage • 26m TEUs handled (2009) • 200 Shipping lines • 123 Country links - 600 ports • Daily sailings to every major port in the • world

  12. Defence & Security Defence and Security - Budget for 2010 is £7.5bn (32.5% of government expenditure).This sector will basically include the Ministry of Defence (MINDEF), the Ministry of Home Affairs (MHA) amd the Ministry of Foreign Affairs (MFA). Singapore has become more urbanised, its infrastructure has become more sophisticated, and its people more affluent, while a requirement for more advanced and widespread security systems has grown. The various terrorism activities that happened around the world, (including those in the region, where Singapore has been targeted) have heightened Singapore's awareness of its vulnerability as a small island.

  13. Defence & Security Singapore has a multi-layered, multi-dimensional national security strategy for dealing with security & terrorist threats. It is organised along the three rings of Prevention, Protection and Response Co-ordinating Minister for National Security (at Deputy Prime Minister level). Given transnational terrorism require varied expertise. Organisational responsibility falls between Joint Counter Terrorism Centre (JCTC) under the National Security Coordination Secretariat (NSCC) working jointly with the National Security Coordination Centre (NSCC)

  14. Defence The government’s main vehicle for developing the defence sector is through the Defence Science and Technologies Agency (DSTA). This is a statutory board set up under the MINDEF. It is responsible for implementing defence technology plans, acquiring defence material and developing defence infrastructure for MINDEF. DSTA aims to provide leading-edge technology to Singapore’s Armed Forces (SAF) for the primary purpose of the defence and security of Singapore. Singapore is committed to anti-piracy efforts and together with 15 other countries is part of a Regional Cooperation Agreement on combating Piracy and Armed Robbery against Ships in Asia (ReCAAP). Recently commanded Anti Piracy patrols in the Gulf of Aden.

  15. Security • The Ministry of Home Affairs (MHA)consist of the following major departments: • Central Narcotics Bureau (CNB) • Home Team Academy (HTA) • Immigration and Checkpoints Authority (ICA) • Internal Security Department (ISD) • Singapore Civil Defence Force (SCDF) • Singapore Police Force (SPF) • Singapore Prison Service (SPS) .

  16. Defence & Security Singapore's legal, justice and policing system is based on the British system. Singapore Police Force (SPF) in 2009 had an operationally ready strength of 13,802 full-time officers. In addition, a total of 20,978 Police National Servicemen and 1,001 Volunteer Special Constabulary Officers are available All regular officers are armed

  17. Defence & Security Singapore Prison Service employs about 2000 uniformed officers, plus civilian staff. They undertake nine months of basic training. Singapore has embarked on integration of its existing 14 prisons distributed across the island. The Redevelopment of Changi Prison Complex (CPC) is an ongoing project started in 2000. It encompasses the construction of 4 clusters of institutions, support facilities and Prison HQ. Prisons will be stretching the completion of the CPC beyond FY 2012. By FY 2012, only three clusters of institutions will be completed

  18. Defence & Security There are about 280 licensed guarding agencies in Singapore; Certis CISCO was formed as a statutory body in 1972 to cater to the security needs of the commercial and industrial sectors in Singapore; Certis CISCO operates nation-wide, employing a total of approximately 4000 auxiliary police officers; Singapore’s Security Industry Regulatory Department (SIRD) regulates all armed auxiliary police officers, and sets standards.

  19. Opportunities Major Projects 1. Singapore Sports Hub Consortium to design, build, finance and operate the Sports Hub for the next 25 years on a 35-hectare site. Largest PPP for a sports infrastructure project in the world, final construction cost is estimated to be over £700 million and the new facility will open its doors by April 2014. 2. Sembcorp Marine announced a new integrated shipyard would be built, with the first phase, worth over £375 million, being completed in 2013. The new yard will create 200 vessel slots per year. Remaining 206-hectare of total site will be developed in two more phases over a period of 12 years

  20. Opportunities 3. Singapore Government has committed £30 billion over the next 10 years on improvements to the rail network to ease congestion. A major part of the expense will go towards doubling the network to 280km, with three new lines. Land Transport Authority and transport operators have recently talked about improving service, including upgrading stations 4. Singapore LNG Corporation recently awarded the contract for engineering, procurement and construction of Singapore's first liquefied natural gas terminal to Samsung C&T Corporation, under a contract worth about £500 million. Foster Wheeler Asia Pacific was also appointed by SLNG to be its project management consultant

  21. Opportunities 5. Construction of the delayed £0.6 billion Island Power project will start in Q1 of 2011. India's GMR Infrastructure signed an engineering, procurement and construction deal with a Siemens / Samsung consortium in August 2010. Island's 800-megawatt station, running by 2013. 6. Keppel Corp intends to triple its generating capacity in Singapore by building a 900-megawatt plant expansion starting at the end of 2010. The project is likely to cost well over £400 million.

  22. Opportunities 7. The £1 billion Jurong Aromatics (chemical) project has been delayed due to financing issues (RBS lead adviser), and is now scheduled to come into operation in 2014. The construction contract (worth £500 million) was awarded in August 2010: 8. ICT, The Singapore Government will issue 350 new tenders worth over £500 million in 2010, from a range of Government agencies. Some of these projects will include the re-development of the eCitizen Portal, as well as the enhancement of business intelligence capabilities to analyse information through the use of business analytics tools.

  23. Opportunities 9. Singapore is developing Mediapolis@one-north a new 19 hectare facility to house innovation and R&D facilities. This project is worth £40-£60million and is due to be completed in stages, and in full by 2020. It will house a media ecosystem comprising incubators, R&D activities, content development, digital production, broadcasting, industry-responsive education, intellectual property and digital rights management. 10. The Ministry of Education has announced it will provide all primary schools with additional facilities that facilitate engaged learning in academic and non-academic areas by 2016.

  24. Opportunities Related Security Opportunites 1. £175 million allocated to the Civil Defence Force where new public shelters in MRT stations will be built, as well as the development of a new fire stations. 2. Police Programme budget of £800 million allocated for setting up new units and initiatives such as upgrading of Command and Control Systems and for any additional security resources 3. Peace, Security and Sovereignty has £5.75 billion allocated to MINDEF

  25. Opportunities 4. ICA has £250 million allocated for a programme to increase the efficiency of checkpoints and for development 5. Other key projects include the DSTA Enterprise System by Defence Science & Technology Agency (DSTA), the Central Picture Archiving Communications System by Ministry of Defence (MINDEF) and Biometrics Screening Capability system by Ministry of Home Affairs (MHA).

  26. Possible Opportunities around 1. F1 GP race every September. 2. On 26 September 2010, the Singapore Government agreed to a proposal for a biennial Singapore Games, with the inaugural edition to be staged in 2012 with around 10 to 15 Olympic sports. 3. International conferences - Shangri-La Dialogue (SLD) organised by the International Institute for Strategic Studies is held in Singapore every May or June, essentially a forum for senior international delegations from the defence industry.

  27. Possible Opportunities around 4. Jurong Island in Singapore is the world’s third largest oil refining location (after Rotterdam and Houston) with a combined processing capacity of 1.3 million barrels per day. Singapore has four refineries owned by Shell, Esso, Mobil and the Singapore Refining Company. 5. Singapore maritime ports terminals handle around seventeen percent or almost one fifth of the world's transhipped containers with the port being one of the busiest container ports in the world in terms of total shipping tonnage.

  28. Major Exhibitions • 1. OSEA 2010 a Major Oil & Gas Show, 30 November to 3 December 2010 www.osea-asia.com • 2. Global Security Asia 2011: 15 – 17 March 2011 www.globalsecasia.com • 3. Imdex Asia 2011: 18 – 20 May 2011 www.imdexasia.com • 4. Broadcast and Communications Asia 2011 held in June 2011 www.communicasia.com • The Singapore Airshow, next being held in February 2012 www.singaporeairshow.com.sg. • HOSDB, Expect a large delegation from Singapore March 2011

  29. Relationships do matter in Singapore and a UK company often does better with local representation • Visiting companies may need to build up a relationship, sometime even an international reputation will need enhancing locally. • Singapore is aware of whole life cycle costs but this will need to be demonstrated, while expect hard negotiations on price. • Winning a contract in Singapore can act as a springboard in the South East Asian market in general. • Local distributors are normally the way to supply for standard equipment which may require in-country servicing and emergency stocks. • Most governments departments purchase via tender via the website www.gebiz.gov.sg unless restricted.

  30. How we can help you • Our services are tailored to your needs • We can save you time and money by: • providing in-market knowledge – over 180 years of experience supporting British business overseas • organising programmes with contacts who are interested in your company • making the most of your time in the market • notifying you of new opportunities in Singapore relevant to your company • running brand raising events • organising and hosting seminars • helping you gain media coverage • supporting your due diligence procedures • keeping you up-to-date on the regulatory environment • and more….. • Our reputation enhances your reputation

  31. Thank you Neil Walker Senior Trade Officer British High Commission Singapore Email: Neil.Walker@fco.gov.uk

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