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Green Plans in Action: Singapore: Industry Advantages
CORE Competencies
At the heart of Singapore's thriving business sector is a unique blend of CORE competencies: Connectivity, Openness, Reliability, and Enterprise. Singapore has taken advantage of its natural strategic location as the gateway to Asia to become one of the largest financial centers in the world, with tax incentives to encourage the transfer and development of technological and intellectual property. Committed to high levels of GNP growth, the economic success of Singapore is well known, with an economic growth of more than 7% per annum since independence in 1965 and ranking 9th in per-capita income in the world. With a willing acceptance of globalization and corresponding foreign cultural and economic infusion, Singapore's cosmopolitan atmosphere stimulates openness. Their safe, pro-business environment is supported by a well-respected government with transparent and consistent policies protecting companies' investments. Home to a concentration of international enterprises, headquarters operations and start-ups, Singapore has a vibrant enterprise ecosystem that fuels interaction and growth.
Public-Private Partnerships (PPP)
Singapore's environment ministry has adopted the PPP approach as a means to drive economic growth and development in the environmental industry. In this approach, the public sector works closely in partnership with the private sector in provision of a new environmental infrastructure and services. For example, the first three NEWater plants and refuse incineration plants are owned by the Public Utilities Board (PUB). The PUB is sharing its expertise through a Design-Build-Own-Operate (DBOO); and the latest fourth NEWater plant and refuse incineration plant are owned by the private sector. In addition, to meet growing demand, plans for expansion of existing plants and construction of a new privately owned plant are underway. Also under Public-Private Partnership agreement, a fifth incineration plant is scheduled for completion in 2009, and will replace the Ulu Pandan Plant commissioned in 1979.
Innovation and Eco-Efficiency
Environmental Innovations and efficiency projects in the business sector support the government's goal of environmental sustainability, and are encouraged through funding incentives. Administered by the National Environment Agency (NEA), the Energy Efficiency Improvement Assistance Scheme (EASe) offers incentives to companies in the manufacturing and building sectors. Funding is provided to assist businesses in engaging expert consultants to carry out detailed studies on energy consumption and identify areas for energy efficiency improvement. The NEA also offers funding through the Innovation for Environmental Sustainability Fund (IES). These funds have a primary aim to enhance the Ministry's capabilities, improve environmental performance of a company, and provide research and development of environmental technologies and products for commercial use.
SMEs and Competitiveness for a Vibrant Economy
The Standards, Productivity and Innovation Board of Singapore (SPRING Singapore) is the key government agency nurturing a pro-business environment through spearheading enterprise growth and development, especially for SMEs (Small and Medium Enterprises). SPRING plays an important role in productivity promotion, manpower development, technology application, industry development and standards and quality development, and partners with three local universities for economic educational programs. Through SPRING, $3.9 billion will be distributed between 2006 and 2010 to enhance innovation, competitiveness, and enterprise formation and capabilities of SMEs for increased access to markets and business opportunities. (More)
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