As inconspicuous as it may seem, Singapore has made a mark in the global economy. The “little red dot” as it is affectionately called is home to a diverse ethnic, religious and cultural population of approximately 5.6 million people. Located in the heart of Southeast Asia, it has access to a market of 3 billion people.
Singapore has billed itself to become a ‘Smart Nation’ for its adoption of technology and has been ranked by the World Bank to be the easiest country to do business in and as one of the “most open” and “most pro-business” in the world.
Its low-tax rates are also a benefit to global investors while it is also recognized as the fastest changing digital economy, being a prime tech innovation hub.
Legacy Ventures recently organised a global immersion for a group of MBAs focussed on leveraging digital for business transformations and supply chain logistics.
The immersion incorporated visits and discussions with some of the leading organizations in Singapore such as Amazon Web Services; a subsidiary of Amazon.com to get an insight into cloud computing and Global Logistics Properties (GLP); one of the leading providers of modern logistics and facilities operating over a huge market. In addition, they visited the headquarters of Singapore’s flag carrier, Singapore Airlines and learnt more about the workings of the city’s port at PSA International.
In between, the MBAs were also able to take in the sights and sounds of this cultural enclave. They immersed themselves in the traditions of one of the oldest housing estates in Singapore – Tiong Bahru, paid a visit to the 90-year old Qi Tian Gong temple, Singapore’s oldest temple, and indulged in delectable pastries at the historic Galicier Pastry.
Throughout the week-long immersion, they were able to delve into what makes Singapore such an economically competitive city and still maintains the cultural heritage that ultimately makes Singapore unique.