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Singapore

 

Fleet should not be concerned with any type of policy changes by the government. Singapore's parliament is focused in economic growth in this region, which involves foreign investments. Pass laws and regulations issued by parliament have proven this time and time again. There are many types of opportunities for a financial institution such as Fleet in the many industries that Singapore has to offer. Singapore's pass has shown the way for economic growth for the future.
             Republic of Singapore Economy.
             Singapore is the home of a highly developed free market economy. It is one of the most open in the Asian and free from corruption. During these volatile times of accounting irregularities in the US the Singapore government does not tolerate these practices. Prices are stable here and have the fifth highest per capita gross domestic product in the world. The government enforces a mandatory savings scheme, through which the country procures high levels of savings and investments. Fleet may see some opportunities in getting involved in Singapore's national savings account. Fleet would save money in Singapore as well. The current corporate tax in Singapore is 24.5%, which is among the lowest in Asia. The country has been working to reform its corporate tax system to keep business cost low. The money that they will lose in taxes will be recouped by the countries many exports.
             The United States is Singapore's largest exporter in the world accounting for about 24.7%. The major items purchased by the US are electronic equipment, oil exports, pharmaceuticals, and petrochemical. Singapore's exports to the US totaled $23.3 billion dollars for the year of 2001. Singapore does not only sell goods to the US, but buy as well $19.7 billion in 2001. Singapore imports 90% of its food products. With Singapore's almost not existent agricultural market they are forced to import large amounts of frozen vegetables. The majority of frozen vegetables are imported form the US, which were over 10000 tons in 2001.


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