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Singapore's skyline glitters with the regional headquarters of big mutinationals - but can it create the right environment for new businesses to thrive? It is 10 years since I went to see Lee Kuan Yew, the founder of Singapore. He had stood down as prime minister of the neat and tidy city state a decade earlier, but he retained enormous behind-the-scenes influence in a job called Senior Minister. He is now called Minister Mentor and Singapore's prime minister is another Mr Lee, his son Lee Hsien Loong.

I was there because something Mr Lee Senior Minister had said about failure had caught my attention, and that is what we talked about.

Read the rest of the Article on Peter Day's conversation with Lee Kuan Yew
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Singapore Profile - Source BBC

Map of Singapore Singapore is a hi-tech, wealthy city-state in south-east Asia, also known for the conservatism of its leaders and its strict social controls. The country comprises the main island - linked by a causeway and a bridge to the southern tip of Malaysia - and around 50 smaller islands. Once a colonial outpost of Britain, Singapore has become one of the world's most prosperous places - with glittering skyscrapers and a thriving port.

Overview:

Most of its people live in public-housing tower blocks. They enjoy one of the world's highest standards of living, but also a system of punishments for acts deemed to be anti-social. Britain's Sir Stamford Raffles saw Singapore's commercial potential. Government-led initiatives have encouraged Singaporeans to have more babies and to be more courteous. Citizens are urged to "Speak Good English" in place of a local slang known as "Singlish".

Statue Sir Stanmford Raffles Singapore Chinese make up more than 75% of the community; Malays and Indians make up much of the remainder. There are many foreign workers. Although Singapore is a multi-party nation, the People's Action Party (PAP) has been the dominant force since independence. Rights groups have accused some politicians of using defamation suits to silence their opponents.

Singapore is often referred to as one of Asia's economic "tigers". Its economy is driven by electronics manufacturing and financial services and has weathered regional crises, including the 1997 Asian markets slump, the 2003 Sars virus outbreak and the 2009 world banking crisis. In the face of strong competition from regional manufacturers, Singapore is seeking to strengthen its services sector and tourism industry. Singapore argues that its use of capital punishment - applied mostly for drugs trafficking offences - has stopped the growth of narcotics syndicates.


FACTS:

  • Full name: Republic of Singapore

  • Population: 4.8 million (UN, 2010)

  • Capital: Singapore

  • Area: 660 sq km (255 sq miles)

  • Major languages: English, Malay, Mandarin, Tamil

  • Religions: Taoism, Buddhism, Islam, Christianity, Hinduism

  • Life expectancy: 79 years (men), 83 years (women) (UN)

  • Monetary unit: 1 Singapore dollar = 100 cents

  • Main exports: Computer equipment, machinery, rubber products, petroleum products

  • GNI per capita: US $34,760 (World Bank, 2008)

  • Internet domain: .sg

  • International dialling code: +65

Leaders:

President: S R Nathan

S R Nathan began a second, successive six-year term in September 2005 after the other contenders for the post were disqualified. Candidates must meet strict selection criteria. Though fulfilling a mainly ceremonial role, the president has the power of veto in key areas, including government spending, and can appoint senior civil servants.

Prime minister: Lee Hsien Loong

Singapore Prime Minister The elder son of Singapore's founding father Lee Kuan Yew, Lee Hsien Loong took office in August 2004, without an election, as part of a planned handover of power.

The elder son of Singapore's founding father Lee Kuan Yew, Lee Hsien Loong took office in August 2004, without an election, as part of a planned handover of power. He vowed to continue the policy of opening up Singapore's society. A former army officer, Mr Lee followed his father into politics at the age of 32, becoming deputy prime minister in 1990. As finance minister in his predecessor's cabinet, he was credited with helping to secure Singapore's competitive edge amidst growing competition from China. Mr Lee's father, who oversaw the transformation of Singapore into an economic power, is the cabinet's official mentor - a newly-created post. Goh Chok Tong, Lee Hsien Loong's predecessor, is the senior minister in the cabinet, and thus the most senior advisor to the prime minister.

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