Global Marketing Test Questions Argumentative Essay Example

product. Geographically, Singapore is strategically positioned in South East Asia and capitalizes on its sea routes for business purposes. The nation's natural seaport and access to both international and domestic transportation networks have established it as a major global trading hub. Additionally, Changi Airport, Singapore's international airport, enables connectivity with over 180 countries worldwide.

This region provides easy access to important Asian markets. Singapore, a densely populated island with over 4 million residents, including expatriates, coexist harmoniously. The diverse population plays a crucial role in influencing government policies aimed at improving the overall quality of life. As of 2009, the population growth rate was 3.1% and the literacy rate currently stands at 95%. These factors greatly contribute to Singapore's economic prosperity.

The rise in population contributes significantly to the growing demand, particularly in the manufacturing sector. Singapore, being a knowledge-based country, is home to highly educated individuals. The Labor Force Evaluation Measurement report confirms that Singapore boasts the world's finest labor force. A large number of them possess excellent productivity, technical proficiency, and a strong work ethic. Moreover, Singapore benefits from the influx of professionals from various countries who bring with them extensive knowledge and expertise, further enhancing the nation's well-being.

The food and beverage industry in Singapore has two main distribution sectors: retailers such as wet markets, shopping malls, and supermarkets; and food services like hotels, restaurants, and airlines. Local suppliers and their agents control the distribution of many products. Some channels, like NTUC Fairprice and Cold Storage, prefer to purchase directly from suppliers, especially if they have large order quantities.

However, investors with smaller order quantities will buy their products from reliable suppliers. Singapore

constantly upgrades its infrastructure, making it a highly desired country for business. It is also ranked as Asia’s top convention city and has hosted prestigious events. Depending on their business's size or nature, investors can set up operations in an industrial/business park, own establishments, or move into existing commercial buildings.

Singapore, being a technology-savvy country, strives to utilize technology to enhance efficiency. With approximately 99% of the population having access to internet broadband network, Singapore aims to stay ahead in the industrialized world. The political system in Singapore operates with a rational and pro-business approach, focusing on enacting laws, setting priorities, and establishing regulations. The government's stable and orderly governance is geared towards positioning the country at the forefront of industrialized nations. Singapore's emphasis on efficiency and effectiveness permeates all aspects of life.

Investors can easily establish their business in Singapore due to its integrity, transparency, and absence of bureaucratic delays or corruption. The World Bank has rated Singapore highly in government effectiveness, regulatory quality, and control of corruption. The Singapore government regularly evaluates its policies and programs, taking prompt action to restore economic stability during times of crisis.

Singapore's laws reflect an appreciation for the significance of acknowledging and accommodating global business practices to appeal to investors. With regulations in place regarding working hours, minimum wages, industrial protection, and taxation, Singapore proves itself as an appealing destination for businesses to establish and operate. A notable advantage of conducting business in Singapore stems from its robust economy, bolstered by its involvement with ASEAN (Association of South East Asia) and participation in the FTA (Free Trade Agreement).

Singapore, as a member of the FTA, signed the

CEPT agreement on 28 January 1992 along with other ASEAN countries. The primary aim of this agreement is to remove tariffs and non-tariff barriers in the region. Investors in Singapore enjoy various advantages such as preferential access to specific sectors, a favorable tax system, flexible immigration policies, and intellectual property protection. Taxes continue to be an important factor for all investors.

Singapore offers several unique advantages, including low corporate taxes. Companies earning up to SGD 300,000 are taxed at a rate of 9%, while the tax is capped at 18% for higher amounts. Additionally, Singapore follows a single-tier tax policy, meaning investors can receive dividends tax-free. To reduce reliance on direct taxes, the Singapore government has implemented a broad-based consumption tax known as Goods and Services Taxes (GST), set at 7%. Singapore also places significant importance on protecting intellectual property.

Investors or companies can register their trademarks in Singapore and apply for global trademark registration. The Singapore government has established programs to assist investors in improving efficiency and exploring new opportunities, aiming to promote the economy. The availability of loans, grants, tax incentives, and equity financing has attracted many investors to Singapore.