DOING BUSINESS IN SINGAPORE
BACKGROUND
Founded as a British trading colony in 1819, Singapore joined Malaysia in 1963, but withdrew two years later and gained its independence. It subsequently became one of the world's most prosperous countries, with strong international trading links, (its port is one of the world's busiest) and with a per capita GDP above that of the leading nations of Western Europe.
Singapore is located in the South-eastern Asia, islands between Malaysia and Indonesia. Because of this strategic location, Singapore has been known as a trading center almost continuously since the 7th Century, when it was a Sumatran seaport called Temasek. Singapore has probably gone through more changes in the last 30 years than any other country in the world.
Family life is particularly important to Asians. The socialization of children within the family creates powerful patterns, which will remain with your counterpart for life. You will be dealing with the families of your customers, employees, bankers, and other business counterparts.
Singapore was settled originally by male immigrants seeking work. Because they left their extended families behind, most families in Singapore consist of only one or two generations.
Today, Singapore is a modern multiracial state. Seventy seven percent of the population is Chinese; fifteen percent is Malay; six percent Indian or Pakistani; and two percent European. Singapore has four official languages: Malay, Mandarin, Tamil, and English. The national language is Malay and English is the primary business language. The three Asian cultures of Singapore, Malay, Indian, and Chinese, have been influenced by Western culture since the arrival of Portuguese traders in the Sixteenth Century. By the time ...