What is the role of EDB?

What is the role of EDB?

The Singapore Economic Development Board (EDB), a government agency under the Ministry of Trade and Industry, is responsible for strategies that enhance Singapore’s position as a global centre for business, innovation, and talent.

Who started EDB?

Hon Sui Sen
Hon Sui Sen, who was then the permanent secretary (Economic Development) at the Ministry of Finance, was appointed as the first chairman of the board. The EDB was given a capital of S$100 million over a four-year period from 1961 to 1964 for its industrial development plan.

What does Singapore Economic Development Board do?

The Singapore Economic Development Board (EDB), the lead government agency under the Ministry of Trade and Industry, is responsible for strategies that enhance Singapore’s position as a global centre for business, innovation, and talent.

When was EDB formed?

1 August 1961
Economic Development Board/Founded
The Economic Development Board (EDB) is a statutory board established on 1 August 1961 to spearhead Singapore’s industrialisation programme.

What is the acronym of Economic Development Board?

The Economic Development Board (EDB) is a statutory board of the Government of Singapore that plans and executes strategies to sustain Singapore as a leading global hub for business and investment.

How many employees does EDB have?

Economic Development Board

Agency overview
Headquarters	250 North Bridge Road, #28-00, Raffles City Tower, Singapore 179101 1°18′0″N 103°53′10″E
Employees	~500 (2009)
Agency executives	Beh Swan Gin, Chairman Chng Kai Fong, Managing Director
Parent agency	Ministry of Trade and Industry

Who does EDB work with?

Engaging Clients & Partners To achieve successful outcomes, EDB works with a variety of stakeholders, including other government agencies, companies and industry associations. Site visits and stakeholder meetings are our bread and butter work.

How did Singapore achieve economic growth?

For a country that lacks territory and natural resources, Singapore’s economic ascension is nothing short of remarkable. The country has achieved this remarkable growth through embracing globalization, free market capitalism, emphasising the importance of education, and following strict pragmatic government policies.

What is an example of economic development?

Economic development is defined as an increase in a country’s wealth and standard of living. An example of economic development is when a country begins to produce more products and increase its overall wealth.

Who is the parent Ministry of the Economic Development Board?

Ministry of Trade and Industry
The Economic Development Board (EDB) is a statutory board of the Government of Singapore that plans and executes strategies to sustain Singapore as a leading global hub for business and investment….Economic Development Board.

Agency overview
Parent agency	Ministry of Trade and Industry
Website	http://www.edb.gov.sg

What are the indicators of economic development?

Tax Collection, Foreign Currency Reserves, GDP growth, industrial activities, Public Sector Development Program Projects, Allocation of Budget for Health and Education, Energy availability, incentives for youth and there are many other indicators for showing the economic development.

What are the 5 phases of economic development?

Unlike the stages of economic growth (which were proposed in 1960 by economist Walt Rostow as five basic stages: traditional society, preconditions for take-off, take-off, drive to maturity, and age of high mass consumption), there exists no clear definition for the stages of economic development.

What is the best indicator of economic development?

The most comprehensive measure of overall economic performance is gross domestic product or GDP, which measures the “output” or total market value of goods and services produced in the domestic economy during a particular time period.

What is the salary of a minister?

Chief ministers, MLAs and MLCs

State	CM Basic Pay per month (excluding other emoluments and allowances)
Karnataka	₹200,000 (US$2,800) (+Salary received as MLA/MLC)
Sikkim	₹190,000 (US$2,700) (+Salary received as MLA)
Kerala	₹185,000 (US$2,600) (+Salary received as MLA)
Rajasthan	₹175,000 (US$2,500) (+Salary received as MLA)