Singapore Economic Plan

2068 words 9 pages
Masterplanning Individual Assignment

Read:

Ministry of Trade and Industry - The Economic Planning Committee, the Strategic Economic Plan: Towards a Developed Nation, Singapore National Printers, 1991.

1. What are the vision and goals of the Singapore’s Economic Strategic Plan?

(2 marks)

Vision

A DEVELOPED COUNTRY IN THE FIRST LEAGUE

Goals

 Enhancing Human Resources
 Promoting National Teamwork
 Becoming Internationally Oriented
 Creating a Conducive Climate for Innovation
 Developing Manufacturing and Service Clusters
 Spearheading Economic Redevelopment
 Maintaining International Competitiveness
 Reducing Vulnerability

2. Who are the stakeholders and what are their roles? Are there conflicting interests between the
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n Singaporeans
• Global city |Older generation illiterate
• Aging population
• Uncreative population
• Diverse population |Growing awareness on global competitiveness
• Education and equipping the people for a developed nation
• Globalization of the population |Procrastinator mindset
• Growing quality of life demand
• Growing discontent with incumbent
• | |Technological |Research hub stature
• Tech-savvy
• High connectivity to world
• Strong technology in certain industries |Dependent on fossil fuel source for energy
• Expensive means of water source
• Lack of home grown technological companies |Improvement in technological hubs |Outpacing of technological knowhow by competitors | |
Legal |Cheap cost in setup of operations • Mature law system to protect Intellectual properties |Very strict law which may restrict innovation |Revamping of laws to reflect a status of a developed nation |Changes to legislation if there is a change of government | |Environmental |Proximity to developing markets in ASEAN • Good quality of life • Clean and green environment |Small land area • Lack of water resource resulting in expensive water source • Lack of natural resources • Dependent on neighboring countries decisions on |Reclaim land • Development of unused or low utility land • Development of more reservoirs • A more nature environment for the people |Global warming resulting in higher sea levels • Flooding due to climate change • Pollution

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