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The following article was published in our article directory on December 2, 2010.
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Article Category: Business Management
Author Name: xia zihui
Singapore is a city-state, the land area is small, but its impressive economic achievements attracted worldwide attention. Since independence in 1965, Singapore has created an economic miracle after another. Except for a few years of negative growth, the Singapore economy has maintained rapid growth in the trend. According to IMF statistics, in 2009, in 183 countries and regions in Singapore's per capita GDP ranking twenty-bit, and its per capita GDP of $ 512 from 1965 to 2009 growth to 3.6 million, 40 years increased by 70 times.
Today, Singapore is one of Asia's emerging economies, is one of the world's largest container port and an international financial center. IMD in Switzerland, announced the world's competitiveness ranking in 2010, Singapore ranked first. While Singapore's economic development, with its unique geographical location, but more important is the result of active efforts of its own.
First, insist on opening. Singapore's land area is about 700 square kilometers, a population of about 5.08 million, is the natural resource-poor countries in Southeast Asia. Under such conditions, Singapore must take the open road, to ensure the resources needed for economic development and the market. Therefore, the independence of Singapore's economic development strategy began to change from import substitution to export orientation, through the introduction of foreign capital and foreign investment, became the star of world economic growth in the country. Singapore's foreign trade volume in 2009 of its gross domestic product to nearly 3 times; several multinational companies set up headquarters in Singapore base. Although open to some of Singapore's economic development instability, Singapore or the region once, because the world crisis there have been various negative economic growth, however, proved to opening up economic development benefits to Singapore than the disadvantages. Symbiosis with the world economy to get Development of Singapore's economic development experience.
Second, the constant search for a new driving force for economic development. Economic growth is constantly changing, is the change in domestic and international economic conditions, the combined result. To this end, Singapore has been providing international economic environment, seize new opportunities, combined with their actual conditions, timely readjustment of the industrial sector, improve international competitiveness. At independence, Singapore's focus on the development of labor-intensive industries, 70 years after the beginning of the 20th century, focusing on the development of capital-intensive industries, to the 90's, began to increase economic growth in the technical content. Currently, Singapore is trying to high-skilled-based economy into an innovative, electronic, biomedical and renewable energy and other high-tech industry to become the driving force of economic growth of Singapore industries. By 2015, Singapore proposed to R & D expenditure as a percentage of total gross domestic product ratio to 3.5%, equivalent to the level of R & D investment is now developed.
In addition, the Singapore government has always been its highly efficient, clean and famous, the Government's service the whole of society radiation. 40 years in Singapore's economic development history, the role of government credit. The Government's main function is to the whole society as much as possible to provide efficient, quality services to meet the needs of economic development, such as easing the burden and improve the level of business facilitation and Gaishan welfare benefits, Singapore is also the world's tax system so simple, one of the lowest tax burden, but also the easiest to do business in the world.
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