The Business Times
SUBSCRIBERS

A culture of benchmarking to the best

Published Fri, Sep 30, 2016 · 09:50 PM

SINGAPORE has been ranked Asia's Number One and the world's No 2 in a sustainability ranking study, results of which were released recently. That should be compared with the fact that 70 per cent of Asian cities finished at the bottom. It is another feather in the city-state's cap and a perfect example of how it embraces best practices ahead of others.

The remarkable story of the Republic's leap to a First World nation is, ironically, an oasis in South-east Asia. While the reasons for Singapore's stupendous achievement are well chronicled, what is stopping other regional nations like Indonesia, Malaysia, Vietnam, the Philippines, etc from reaching such heights ? After all, they have watched from close quarters the step-by-step transformation in Singapore. These countries have had all the opportunities to emulate some of the island nation's smart moves over the decades.

The finger always points to the political structure. However, this does not explain the underachievement fully. One party has ruled Malaysia over the past 40-odd years. Indonesia had that for three decades, before a multi-party system took root. Vietnam is still a predominantly communist regime, with some capitalist leanings (modelled on China). The Philippines is the only country that has oscillated from one party to another for many years, without any regime contributing to a quantum change in the country's fortunes.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Columns

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here