Energy Handbook 2011 - GBR

P o w e r S u m m i t - T h e E n e r g y H a n d b o o k 2 0 1 1
C o u n t r y P r o f i l e : S i n g a p o r e
Singapore in Focus
Singapore’s ability to reinvent itself as one of Asia’s economic
leaders, following a troubled early history, has continued to
serve as an example of sound economic policy and planning.
Having embraced independence
from Britain in 1963, Singapore
was briefly part of the Malaysian
Federation before being expelled in 1965.
Forty-six years later, this unique member
of the Commonwealth has become
one of the world’s premier centres for
finance, chemicals and electronics, and
experienced the fastest growth of any
Asian country in 2010, when its economy
expanded by an estimated 14.7%. 1
Having been ranked in first place by
the World Bank’s 2010 Ease of Doing
Business report, Singapore continues to
attract investment and its growth has
diversified into other sectors. Utilising
its geographical location, one of the
world’s busiest ports, and its regulatory
framework, the island country has also
become an energy leader for south-east
Asia. With electricity demand in Asia
Pacific expected to grow by 26% by
2014 2 , Singapore will continue to play a
central role in energy growth.
Singapore’s small physical size – a
total land area of just 687 km2 – has
posed significant challenges. But while
geography has sometimes been a
problem for industries which want to
grow here, an economic system based
on tax benefits, government support,
and industry promotion has brought in a
multitude of companies specialising in the
power sector.
The past four years have also seen the birth
of a dynamic renewable energy industry,
which benefits from Singapore’s well-
Article by:
Jolanta Ksiezniak
and Eugene Yukin
Above: Marina Bay
Sands; Photo by
Jolanta Ksiezniak
1
Singapore Ministry of Trade and Industry
2
Business Monitor International: Singapore Power Report 2010
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