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The Missing Pieces of the Singapore Business Jigsaw by Charlas William
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The Missing Pieces of the Singapore Business Jigsaw |
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Business
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The tug of war between Singapore and Hong Kong, in their struggle to attract expats, is an amusing distraction - to an outsider at least - from the austere nature of business in this part of the world. Singapore is especially guilty of providing a less-than-invigorating environment - an environment which fails to promote the more culturally innovative investments that this country craves. The tame press and stagnant state help to sap the excitement out of commercial operations in the nation and this is why Hong Kong can afford to compete so admirably with Singapore - by offering an altogether more attractive and colourful foreign investment package. Read more about Hungarian translation.
For anyone wishing to focus solely on the facts and figures, they might find a criticism of Singapore's trade policy worthy of mental detention. The nation remains the USA's fifteenth largest trading partner - bringing in import trade well and above healthy levels (over 100 billion dollars yearly). The country enjoys good regional relations, with exceptional import/export trade available with affluent Malaysia. Recent years have also seen an increase in export trade to the USA - something that cannot simply be put down to good favour and good relations. Petroleum, chemicals and textiles have proliferated in the export environment of the country and successfully galvanised the more specialised trades of telecommunications apparatus and electronic components. This is a nation supremely able in what it does best, enjoying the financial success which comes with it.
But is there a lack of imagination? A lack of ambition? With the figures above, it should be nothing short of absurd that Singapore finds itself competing for mid-level expats. There is something missing - and that is, without question, Western start-ups. The nature of business here often deters more casual, yet innovative investors. The conference mentality of the nation is one major deterrent but the widespread availability of simultaneous interpreting services should appease those worries. European start-ups need to be brave and take a dive into this multi-cultural business nation because the opportunity is there to trail blaze and it should not be ignored. The financial stability on offer is one major plus but the fact that there is a sway - both politically and culturally - towards the ideals of Hong Kong should alert all Western entrepreneurs to the gaping hole that exists within Singapore's society. Europe enjoys some of the most varied and creative start-up cultures in the world and if any nation needs a dose of that medicine, it's Singapore.
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