Technological Singapore

Technological

Singapore main exports are technological products and electronics, which indicates that Singapore is enjoying a world class reputation for adopting, developing and inventing new technologies. Singapore's competitiveness and quality workforce make the MNC confidence to invest in Singapore. The information technologies helped Singapore to protect its position and stay ahead.

Singapore government has implemented a few strategies to make Singapore an IT city. They equipped wired or wireless broadband in every office, household and hotel rooms. Every new building is required by regulation of installing broadband; The government is also trying to prepare the younger generation to become high-tech generation, hence the Singapore government offer IT learning from first grade onwards etc.

Singapore is ranked 39th of World Countries Internet Host in 2012 and the exports are heavily in consumer electronic goods and information technologies products. The city attract investment in medical technology and pharmaceutical products. Singapore is a financial centre and high-tech hub which make the country successful in attracting business.

Economics

The GDP of Singapore has been steadily increasing since the country became independent. Singapore has a successful and highly developed free-market and investors enjoys a remarkably corruption-free and open business environment, a per GDP higher than most developed countries and stable prices. The economy mostly depends on exports, especially in information technology and electronics products, and a on growing financial services sector.

Between 2004 and 2007, the real GDP growth in Singapore averaged 8.6 percents. And as a result of global financial crisis in 2009, the economy contracted 1 percent but rebounded to 14.8 percent in 2010. In long term running, Singapore government hopes to establish a new growth path that focuses on raising the productivity. Singapore attracts major investments in medical technology and pharmaceuticals production and government has been putting in efforts to turn Singapore into a SEA's financial and high-tech hub.