The Singapore Example in a Nutshell

Standard

singapore example

Below are the drivers to Singapore’s unabashedly successful economy, a brilliant legacy left behind by the late Lee Kuan Yew.

  • Low corporate taxes
  • Lax business regulations
  • No minimum wage
  • Living conditions geared to attract foreign investors
  • Upgraded security for foreigners and their families
  • Fast corporate registration, usually in a matter of hours
  • Meritocracy incenting government workers with good pay
  • Pragmatism copying the successes of Japan and others
  • Pursuit of peace and prosperity, not making enemies
  • Small projects given as much attention as big ones
  • Preference to foreign investments over foreign aid
  • Diverse dialects respected with English as the working language
  • Investment in clean water resources
  • Emphasis on affordable housing, education, healthcare, transportation and workers’ savings plans, not the welfare state mentality
  • High standards of honesty in business and government affairs

Would these guidelines work for Filipinos? Absolutely, because these guidelines ride on common sense. And common sense is something Filipinos have plenty of.

Insights into Lee Kuan Yew from his grandson’s eulogy.

4 thoughts on “The Singapore Example in a Nutshell

  1. tm

    on the whole, the list seems sound. but i’m always a fan of concrete arguments for why something is good (or bad) not just the statement of it or its declaration as common sense. in particular, i think the first three points of the list may need some justification. i think before asking the question whether these qualities of the singapore economy would be good for the philippine economy, it’s necessary to determine whethere they are all good for the singapore economy. it may be that the singapore economy is not good because, but rather despite a particular point on the list. looking forward to an elaboration on this list — i think it would make a good article!

  2. Everything is very open with a very clear explanation of the challenges.
    It was really informative. Your site is extremely helpful.

    Thank you for sharing!

Leave a Reply

Your email address will not be published. Required fields are marked *