Government: Parliamentary republic
Currency: Singapore dollar (SGD)
GDP (PPP) $61,046 (Per Capita) [International Monetary Fund. Retrieved – April 2012.]
Area: 714.3 sq km
Population: >5 mil.
Language: English (official), Mandarin Chinese (official), Malay (official and national), Tamil (official)
Time Zone: SST (UTC + 8)
Singapore, officially the Republic of Singapore is a city-state in Southeast Asia, distanced approximately 137 kilometers north of the equator, an island country made up of 63 islands. Singapore declared independence, uniting with other former British territories to form Malaysia in 1963, although it was separated from Malaysia two years later. Since independence it has become one of the world’s most prosperous countries and boasts the world’s busiest port. Singapore is one of the Four Asian Tigers, the world’s fourth leading financial centre, and its port is one of the five busiest ports in the world. English is the common language of the nation and is the language of business, government and medium of instruction in schools.
Government And Politics
Singapore is a unitary multiparty parliamentary republic with a Westminster system of unicameral parliamentary government.
Strategically located at the cross roads of Asia, Singapore offers investors immediate access to South East Asia and its combined market of more than 500 million people. A larger market of 2.8 billion consumers is within easy reach of a seven-hour flight radius. The Republic’s advanced air, sea and telecommunications infra structure provides for the swift and seamless flow of goods and services to markets around the world. This excellent connectivity is complemented by a network of Free Trade Agreements. Singapore’s vibrant business ecosystem is supported by a disciplined, well-educated workforce, a thriving research and development capability and consistent government policies that protect the investments and intellectual property of businesses.
Singapore’s reputation as one of the most business-friendly economies in the world is further underpinned by good government and an open, cosmopolitan society. Seven years in a row, Singapore has been ranked the easiest place to do business in the world, according to a new World Bank report. Singapore has the world’s highest percentage of millionaires, with one out of every six households having at least one million US dollars in disposable wealth. This excludes property, businesses, and luxury goods, which if included would further increase the number of millionaires, especially as property in Singapore is among the world’s most expensive.
Singapore’s foreign policy is directed to maintaining a secure environment in Southeast Asia as well as the surrounding territories. An underlying principle is political and economic stability in the region. It has diplomatic relations with 175 other sovereign states. As one of the five founding members of the Association of South East Asian Nations (ASEAN), the country is a strong supporter of the ASEAN Free Trade Area and the ASEAN Investment Area, because Singapore’s economic growth is closely linked with the economic progress of the region as a whole.
Singaporean students were ranked first in the 2011 Trends in International Mathematics and Science Study conducted by the International Association for the Evaluation of Educational Achievement and have been ranked top three every year since 1995. Singaporean students were also ranked top five in the world in terms of mathematics, science and reading in the 2009 Programme for International Student Assessment conducted by the OECD. The country’s two main public universities — the National University of Singapore and Nanyang Technological University — are among the top 100 in the world.
The World Health Organization ranks Singapore’s healthcare system as 6th overall in the world in its World Health Report. In general, Singapore has the lowest infant mortality rate in the world for the past two decades. Life expectancy in Singapore is 79 for males and 83 for females, placing the country 15th in the world for life expectancy.
Singapore has a tropical rainforest climate with no distinctive seasons, uniform temperature and pressure, high humidity, and abundant rainfall. Temperatures usually range from 23 to 32 °C. Relative humidity averages around 79% in the morning and 73% in the afternoon. As Singapore is located a mere 1.5 degrees north of the Equator, its weather is usually sunny with no distinct seasons.