Aruba, Caribbean knowledge HUB
Diversification the Singapore way
Implementation of the Singapore Master Plan on the Island of Aruba
A viable Market Development solution?
Remo Kock
MBA Masterclass
International Marketing and Business
Caribbean University, Aruba
Preface
Because of my own interest in the Information & Communication Technology sector developments and the Aruban economy, I started thinking of the successful
Singapore Master Plan where, in Singapore, the economy has grown with an annual rate of 8.5% from 1960. Except for the years 1964, 1975, 1985 and 1986 the economy has recorded a growth of more than 5% annually. Singapore's growth has been accompanied by a change of the economic structure with a shift from local (agriculture, quarring) to global services. Now there is a focus on high value added industries such as financial and business services and technology manufacturing .
I wondered if a similar setup would be beneficial for Aruba with know-how and geographic location being important factors to take into account. As with Singapore being a hub to Azia, Aruba could be a hub to the Americas, especially for the whole of Latin America and the Caribbean Nations. Maybe Aruba would have to focus on other aspects of the economy, or maybe the conclusion will be that it is not viable to implement.
This topic is not a new one. I found several articles in the Amigoe di Aruba containing references to a knowledge economy and Singapore as an example for implementing new services for the Caribbean Area. In the article of january 6th 2003 named "Aruba, Singapore van het Caribisch Gebied" it is mentioned that Aruba should be developed into a financial service center, with other words a Singapore ...