GOVERNMENT POLICIES AND WORKFORCE CHARACTERISTIS: THE GROWTH OF SINGAPORE’S ECONOMY

Open Access
Author:
Kapoor, Dhiren
Area of Honors:
Supply Chain and Information Systems
Degree:
Bachelor of Science
Document Type:
Thesis
Thesis Supervisors:
  • Dr. Robert Alexander Novack, Thesis Supervisor
  • Dr. John C. Spychalski, Honors Advisor
Keywords:
  • Singapore
  • Economy
  • Supply Chain
  • Labor
  • Labour
  • Asia
  • Southeast Asia
  • South Asia
  • Policies
  • Government
  • Workfoce
  • Growth
  • Singapore's
  • History
  • Supply
  • Chain
  • Companies
  • Corporations
Abstract:
This paper seeks to provide an economic analysis of the labor policies and workforce characteristics in Singapore, which have made the country attractive for investment. To do so, this research will highlight the policies that the Singaporean government has instituted to encourage foreign investments. The Singaporean economy has faced many changes over the last several decades, but now it finds itself as one of the strongest economies in Asia. This research will focus on understanding the policies that allowed Singapore to succeed. Another area of focus will be on developing an understanding of the actual characteristics of the workforce. Today, Singapore has one of the most skilled and diversified workforces in the world. In exploring this work force, this research will also provide an understanding of the industries and types of firms currently operating in Singapore. This research is intended to be used to develop a better understanding of Singapore’s economy, specifically its role as a manufacturing/logistics hub. While many countries exist with low costs of labor, Singapore has established itself as the premier skilled-labor force in Southeast Asia. For companies considering offshoring their manufacturing operations, this research can be used as a base to develop a better understanding of the skills of the labor force and the business environment of the country.