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CHAPTER 5 - Coggle Diagram
CHAPTER 5
Availability of Economic opportunities
Attracts migrants and immigrants looking for employment that may not exist back in their home country because of higher $$$ due to exchange rates
because SG has large number of busninesses.
SG good as business hub and very well known as one.
Little to no corruption in the economy.
Transparency highly valued due to strict laws regarding transactions.
Best investment potential
no restrictions on capital for businessmen.
most favourable operating conditions.
strong diplomatic ties.
Easiest place to do business
This is due to the hassle free ways administrative matters are handles. Eg: In SG, you can establish a company and register for taxes in the same form. Some forms can even be submitted online.
EG: construction and retail (mostly lower skilled)
Or highly skilled foreign talents who are attracted to high pay and good compensation packages who bring desirable managerial and leadership positions.
hired by MNCs (IG, facebook etc). MNCs are also attracted to set up regional branches and invest in SG for various reasons such as Stable political environment, Low corruption rates, Well-established transport and financial infrastructure and Lesser administrative hassle and ease of setting up and doing business.
More immigrants, more socio-economic diversity.
Immigration Policy :
Closely linked with the manpower needs of the country
In 1965,Singapore was a third world nation with massive
unemployment and lacked foreign direct investment
There was a demand for more workers and this was addressed through issuing of work permits
to foreign workers seeking employment in Singapore in 1971.(low fertility rate of 1.2)
In 1980s,Immigration policy was reviewed as Singapore
was facing a declining population and a brain drain.
Hence, Singapore Government encouraged another wave of immigration to SG.
Encouraged migration from 1990 - Present
evolved over time
Key Objective
meeting Singapore’s manpower needs. This policy currently focuses on a higher-skilled foreign workforce to support a knowledge-based economy
Brain Drain:
The immigration of highly trained or educated people from a particular country to other countries at the expense of the country where these people originated
not allowed to stay
permanently or start families in Singapore
needed
in construction sites, factories and shipyards.
Purpose: To create a dynamic and competitive workforce for growth and progress for SG
Leads to greater Diversity as incoming immigrants bring with them greater socio-economic diversity
Influx of migrants will also lead to increased socio-cultural diversity.
because the incoming immigrants increase diversity of nationalities ,races, ethnicities, religions, languages etc.
Socio-Cultural Environment
Singapore's status made smart people migrate lol
Safe Environement
Strong Community
Quality education