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Title: | AN ECONOMIC ANALYSIS OF SINGAPORE'S SHIPPING POLICIES | Authors: | YEONG WENG HONG | Issue Date: | 1993 | Citation: | YEONG WENG HONG (1993). AN ECONOMIC ANALYSIS OF SINGAPORE'S SHIPPING POLICIES. ScholarBank@NUS Repository. | Abstract: | The aim of this academic exercise is to analyse the shipping policies in Singapore from an economic perspective. The approach is generally qualitative throughout the study. Singapore's shipping policies emphasizes laissez-faire and free trade as laid down by the earlier British Administration. The Singapore government's 'outward-oriented' approach in developing the shipping industry has been successful so far. The earliest effort by the government to support fleet development was the establishment of an open registry system from 1969 to 1981. This period witnessed an unprecedented growth in the merchant fleet when many foreign shipowners were attracted by the tax and other fiscal incentives the Singapore registry offered. Neptune Orient Lines, Singapore's national shipping line was also incorporated to increase participation in international shipping and to counter discriminatory practices by the liner conferences. However, the national shipping line has generally failed in achieving the latter objective. In an effort to tighten control and upgrade the quality of the fleet, Singapore closed its registry in 1981. Other financial incentives were also found to be essential to attract foreign shipowners. In a latest effort to enhance Singapore as an international maritime centre, a government-industry team was sent to various countries on promotional missions and responses from these countries have been encouraging. As a whole, Singapore is on her way to playing a major role in the international maritime scene given her political stability, efficient infrastructure, fiscal incentives, and governmental support of the industry. | URI: | https://scholarbank.nus.edu.sg/handle/10635/170200 |
Appears in Collections: | Bachelor's Theses |
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