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Swot Analysis for the Port of Singapore.

In: Business and Management

Submitted By suleshnaa
Words 1983
Pages 8
Conduct a SWOT analysis for the Port of Singapore.
Describe the Strengths, Weaknesses, Opportunities and Threats.

Strengths
There are a number of factors that have given the Port of Singapore its advantage in the business environment. These factors have resulted in businesses in Singapore’s maritime industry to be supported by a secure and pro-business government, that has created a conducive tax environment for businesses to prosper. This is due to the variety of tax incentives that are available for the maritime industry. Examples of these tax incentives includes the Approved International Shipping Enterprise (AIS) Scheme, Approved Shipping Logistic Enterprise (ASL) Scheme and tax benefits for ship registration. The AIS Scheme offers income tax exemption on qualifying income from the operation of foreign-flagged ships for international shipowners and operators who authorizes important operations in Singapore. The ASL Scheme offers concessionary income tax on qualifying incremental income for established ship management companies, ship agencies, international freight forwarders and international logistics operators. Tax benefits for ship registration includes the exemption from Singapore income tax for qualifying income derived from operation of a Singapore ship. On top of that, automatic exemption from withholding tax on interest payments relating to offshore loans taken to finance ships, are given to ships registered under the Maritime Port Authority of Singapore’s (MPA) Block Transfer Scheme.

Other than having a conducive tax environment, Singapore not only ensures to keep up a workforce of well-trained, qualified and committed English speaking personnel, but she also has one of the lowest business start up cost in the region. The port of Singapore provides a Maritime Business Development Programme which is a grant programme available to shipowners and...

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