Sunday, March 25, 2012

More information on the 8 strategies

8 Strategies of Sustainable Development
-         Moving towards a KBE
o   Making Singapore a business, information and communication hub
§  With the introduction of KBE, manufacturing component of Singapore will be more attractive. Goods are more desirable. This is because quality, design and value of goods are improved on. EDB aso helped Singapore venture into new industries not taken by sole producer, have a headstart and be attractive towards other investors. Other countries do not possess such industries so no competition
-         Improving Worker’s Employability
o   As a result of innovating Singapore’s products, a degree or ust skill education is not sufficient. Workers are encouraged to improve further on skills and be more efficient, competent and innovative to come up with new ideas and products.
§  Retraining retrenched workers and workers who lost their jobs
§  Grants to improve skills, takes courses
§  Bukit Merah skill Development centre
-         Promoting Manufacturing and Services as Twin Engines of Growth
o   Diversifies economic activities as they are required regardless of economic situation. Develop world class education and healthcare and also promote technology-Intensive, high value-added industry
§  Invited world class institutions and researchers over to Singapore
§  Corps encourage economies to combine so that they have more capital intensive industries
-         Building an Information Technology Infrastructure
o   Makes the sharing and transfer of information more efficient
§  Singapore ONE network, internet facilities set up in public areas
-         Going regional and Global
o   Singapore has limited land space and high labour cost. It needs to find a country with these to continue economic development. Also to spend investments across different regions so that economic development can continue even if an area is down
§  Research Parks in Suzhou of China
§  African $100 millions development fund
-         Developing Local Entrepreneurship and Technopreneurship
o   To sustain Singapore’s economic development, Singapore needs more entrepreneurs who use high technology to improve their goods and services and develop them into profitable business ventures
§  Less strict laws to encourage financial discipline and working from home
§  Centres to provide financial advice and relevant business contacts
-         Promoting Research and Development
o   Singapore cannot rely entirely on important technology, It has to develop its own talent pool in R&D to produce new technologies and maintain competitiveness
§  Science Parks
§  Science Agreements with Germany, India, etc
§  Science Exchange  programmes
-         Attracting Foreign Talent
o   To have sufficient manpower and professionals to fill up immediate demands of people in high-technology economic activities. Singapore may not possess enough manpower for those industries
§  Enrollment of foreign students and a large number of Research Scientists and Engineers

Tuesday, March 20, 2012

8 Strategies of sustaining economic development in 20th Century

These are Singapore's eight strategies of sustaining its economic development in 20th Century.

-Moving towards Knowledge-Based Economy (KBE) 
-Improving Worker's Employability
-Promoting Manufacturing and Services as Twin Engines of Growth
-Building an Information Technology Infrastructure
-Going Regional and Global
-Developing Local Entrepreneurship and Technopreneurship
-Promoting Research and Development
-Attracting Foreign Talent