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Government Regulation in Singapore - Coggle Diagram
Government
Regulation in
Singapore
Roles of government
in business
owner of vast quantities
like equipment and wealth
Major Subsidiser
Monetary Authority of Singapore
provides many grants
Support for AI / Tech Firms
Up to 50% support for projects that
demonstrate adoption of AI & DA techniques
distributes resources
to meet social objectives
Personal Learning
Device programme
in Singapore
for all secondary school students
Contracting power
get business to do what they want
Singapore Food Agency
all businesses handling food has
to have Food Safety Course
Prescribe Rules of
the game for buisness
Business Law
have to File Taxes,
Returns, Liabilities,
Consumer Protection
types of business and
government relationships
Cooperation
Business Improvement Fund by
Singapore Tourism Board to help
Tourism Sector - encourage innovation
remodelling of businesses
Opposition
Singapore bans financial firms from
doing business with 4 Russian banks
VTB Bank PJSC, VEB.RF and Bank Rossiya.
Government
Public Policies
fiscal
Income Tax (Redistributive Policy to
help bridge inequality)
monetary
exchange rate policy (Singapore small
and open economy reliant on trade)
Taxation
Pollution Tax (Ecological Crisis)
Industrial
innovation policies
Trade
FTA (Food Security / Globalisation)
Reasons for regulation
Market failure
MediShield life Healthcare Subsidies
under-consumed, welfare loss
Negative externality
Carbon Tax imposed by NEA on firms
$5 per tonne of GHG emissions
Natural monopoly
privatising state owned monopoly
SBS, Singtel from monopoly to oligopoly
Ethical issues
Accounting and Coporate Regulatory Authority
ACRA Singapore ensures businesses file for
financial statements - keep firms accountable
and transparent about their transactions
Protection from Online Falsehoods
and Manipulation Act (POFMA)
Unfair Contract Terms Act (UCTA)
Workplace Safety and Health Act
protect rights of workers
Business Strategies
to influence the gov
information strategy
Big Pharma
lobbying that leads
to undue influence
Speech by PM Lee Hsien Loong
at the Shell Singapore 125th
Anniversary Gala Dinner
fertile exchange of
ideas between gov and biz
Gov tap on Shell’s experience with
Scenario Planning and set up our
own Scenario Planning Unit in the early 1990s.
studied shell's HR management
financial Strategy
In the USA, Shell Oil Company administers
the non-partisan Shell Oil Company
Employees’ Political Awareness Committee (SEPAC)
Political Action
Committee Activity (PACs)
Constituency building
strategy
To support Singapore businesses in capturing new opportunities in the green economy, Enterprise Singapore has launched an Enterprise Financing Scheme – Green (EFS – Green)