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| Executive Travel: Singapore |
Expat Journal: An Oasis of Order
Michael Dee
09/01/2005
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I found Singaporeans very deliberate in their approach to business.
They think things through very carefully because they understand poor decisions
have far-reaching consequences given the volatile nature of Asian economies.
They want consistency in policy. Most importantly, the business environment is
one of integrity. People are extremely honest. When you deal with the
government, they do what they say they will do and, as a businessperson, that’s
what you want.
While Singapore still has a manufacturing base, it has
suffered the same loss of jobs to India and China that we have. They respond by
working even harder to move up the value-added chain. Education of the workforce
is one of the highest priorities. Eighth grade children consistently rank
highest in the world in math and science. English is the official language,
which is a tremendous advantage for Western companies relocating there.
I
was surprised at how open Singaporean society is. You need not be a citizen to
become involved because they want the best ideas regardless of where they come
from. I served on the board of the Asian Civilization Museum (an absolute must
to visit) and the government’s Economic Development Board. I was also a member
of a separate government entity called the Economic Review Committee, which
looked at taxes, wages, land use and the pension system. As a foreigner I was
very comfortable being outspoken at these meetings. We had very robust
discussions. And that is true of Singapore as a whole. There is excellent public
debate that is civil, productive and very oriented toward the commercial life of
the country.
The weather is one of Singapore’s very few negatives. It is hot
and humid all year because of its proximity to the equator. But I adjusted and
was able to do long runs and play golf (despite the monkeys running all over the
course). At home we could eat on the patio every night of the year. The
country’s location also makes it a great hub for visiting the rest of Southeast
Asia.
Michael Dee served as Morgan Stanley’s Singapore- based regional CEO for
Southeast Asia. Today he is a managing director for the firm in Houston.
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