Abstract

The Asian Tiger, Singapore, has emerged as one of the most competitive and business friendly nations in the world. In the past three decades, it has been transformed from a third world country into one of the richest nations in the world. The world’s highest PC penetration among households, the well-networked broadband systems and the high-tech transport system - all symbolize Singapore’s economic achievements. Singapore has consistently attracted foreign investments. Many multinational corporations have located their regional headquarters here. One of the challenges which the country faces currently is retaining its core Asian values, even as it is exposed to Western business practices and lifestyles. Another challenge is to encourage entrepreneurship in a country where most people are affluent. The case can be used to trigger a classroom discussion on the links between economic development, free trade and foreign investment.

Learning Objectives

The case is structured to achieve the following Learning Objectives:

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Keywords

Country case study of Singapore, Changi International Airport, Asian Tiger, Lee Kuan Yew, Goh Chok Tong, Economic policies in Singapore, Financial system in Singapore, Investment incentives in Singapore, World's third busiest port, World's third largest oil refining centre, Development Bank of Singapore, Foreign investments in Singapore, Macroeconomics, Government linked companies, Monetary Authority of Singapore