Singapore with only 710km2 ranks 189th is leading ASEAN country for GDP / Capita (Nominal) with USD 50,323. Driven by 5.3 million people, Singapore has transformed into the most important hub for logistics and financial services industry in South East Asia.
Economy growth in Singapore has less figures if compared to Indonesia, with only 2.5% - 3.5%. It has had the highest economy growth nearly 15% in 2010. Singapore is much rely on its financial industry, trade services and logistics industry to support its economy. Singapore's largest and busiest port known as Keppel has handling capacity of 32 million TEUs (Twenty foot Equivalent Units), far ahead than Malaysia's Port Klang and even Indonesia's Tanjung Priok.
Changi Airport has also recognized as one of the largest and greatest airports in the world. In 2012, Changi Airport with handling capacity of 66 million people handled more than 51 million passengers. This two logistics services have boosted Singapore as the most developed ports in the world and leave behind other ASEAN countries including Thailand, Indonesia and Malaysia.
In terms of doing business in Singapore, obtaining business license has never been easier. Singapore is given a #1 rank in terms of ease of doing business based on survey conducted by doingbusiness.org. Indonesia itself ranks 128th, left behind than its neighboring countries such as Malaysia (12th), Thailand (18th), Brunei (79th) and even Vietnam (99th).
Source: Doingbusiness.org
President Director of Bank Mandiri, Budi Gunadi stated that more than USD 200 billion or equivalent to IDR 1,500 trillion belong to Indonesian people is kept in Singapore. Singapore has proven its banking system and reliable security for its financial provider including Bank. Known as tax heaven as well, Singapore has really played its role very well as the safest and largest financial hub in South East Asia.
Now being the largest financial and logistics hub, how important Singapore is to Indonesia. Has Singapore given benefit in terms of bilateral trade between two countries? Indonesia with abundant natural resources, manufacturing facility, rich demography, massive population should have enjoyed trade surplus with Singapore. Yet, statistics figure show different facts, Singapore has really enjoyed doing business with Indonesia with trade surplus more than USD 11 billion from year on year.
Source: Indonesia's Statistics, Processed by Invisindo
With the implementation of AEC in 2015, Singapore with only 5.3 million people will have the huge opportunity lies ahead covering a single market amounting 600 million people when AEC is implemented.
No comments:
Post a Comment