Economic Analysis of Singapore and JamaicaEssay title: Economic Analysis of Singapore and JamaicaSINGAPOREQualitative Economic growthPrior to becoming one of the leading economies in the world, Singapore was at a juncture where it was evident that economic growth was required to catapult the operation of the economy and this would only prove possible within a short time frame if qualified (successful) foreign companies saw the country as a viable hub for business operations.
The country was hindered by inaccessibility of overseas markets, lack of domestic resources, shortage of management and entrepreneurial expertise and technological retardation. In order to change the business environment to become investment friendly, the responsible authorities took the decision to adopt a liberal foreign investment policy which involved providing various incentives, including the absence of restrictions with regards to the entry and operations of foreign entities. The elimination of government bureaucracy coupled with dynamic political leadership resulted in direct benefits being derived from Foreign Direct Investment in the form of investments, foreign expertise and the utilization of advanced technologies in the varying operations. This transformation resulted
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Espri-Watney et al. (2007)[9] conducted the following analyses: • the “economic development of the Philippines by the 2007–08 budget programme, including an initial phase of a review of its role in international investment” • the contribution of the Government of the Philippines to its economic development strategy in relation to foreign institutionalised enterprises such as the construction and transportation industries, and to its development of the development of investment strategies in a non-traditional way • the involvement of the Government of the Philippines in its local and regional economies and the development of a foreign investment fund for the local area, in addition to all other activities, such as public, private, non-government private sector projects. • the presence of the Ministry of the Interior in the development of new development opportunities for the region and for the development of foreign capital, with particular attention to the Philippines’ economic development as a result of its role in development, and related policies to ensure the sustainable development of the country’s economy, including the improvement of the Philippine infrastructure, including the rehabilitation and improvement of existing infrastructure due to the high risk of natural disasters. • the role of the Government of the Philippines in the economy of the Philippines relating to the local economy as indicated from the financial perspective; these included the implementation of local government financing and financing programs, including the Philippine National Infrastructure Act and the Philippine National Education Act (PEDAWR 2000), as well as a mechanism to ensure fiscal and economic cooperation and financial cooperation throughout the financial system to achieve their objectives and promote economic competitiveness in the region (PLC-A 2003). In addition the Government of the Philippines also made some efforts to implement the PSEAN Economic Cooperation Programme that also included financial support for the Economic Development Commission; it also undertook the implementation of the National Investment Programme. These were considered as the key achievements of the PSEAN Economic Programme to strengthen the economy of the Philippines. In addition, the Economic Action Plan for the Philippines (OEMP) was included under the Investment Promotion and Development Fund and included a role for the Government of the Philippines in this. • the Government of the Philippines received a total of 14 per cent of the total public funds appropriated for the economic sector of the government of the Philippines for non-governmental organisations; this was included partly as the result of the recent economic recovery since 2008, and partly as an indicator of the economic recovery (PASI 2004). The government of the Philippines gave a total total of 0.8 per cent annually to non-governmental organisations related to the promotion of the national interest in the development of the economy, particularly in the areas of public services, tourism, banking, infrastructure, and finance, as well as the development of infrastructure, including railway and telecommunications facilities, and an additional 0.2 per cent for the promotion and promotion of the investment and service sectors, such as roads, railways, and roads transport. It had received 6.2 per cent of the total public funds appropriated for the sector for non-governmental organisations, this was partly for the development of infrastructure, as well as to assist the infrastructure sector in making a proper use of public and private capital (PASI 2001). * For the period 2007–04–12, 6.7 per cent of the total received in