mmerce will thrive. Currently research is being done on improving connection speeds, developing new internet security systems, and making online payments safer and more secure.New LegislationSingapore is the first Southeastern Asian country to clearly define the responsibilities and rights of all parties in E-commerce. Two new bills are expected to be passed this year. The first bill will allow public sector services to be delivered to consumers electronically. The second bill, The Computer Misuse Bill, will increase penalties for hacker attacks and virus activities. Trade and Industry Minister Lee Yock Suan said, "A proper legal and policy framework will enable E-commerce transactions from around the world to be processed here in a secure and safe manner."Government IncentivesSingapore has instituted a number of financial incentives for business willing to go online. These incentives include tax deductions and investment opportunities. The implementation of these incentives has made it easier for a company to manage the costs and risks of venturing into E-commerce.Expanding ConnectionsSingapore's current US connection of 45 Mbps is growing everyday. Local internet providers have begun expanding their connection speed and size through the use of satellite links. It is estimated that in the next ten years the number of internet connections in Singapore will almost be double what it is today.SummaryElectronic Commerce is changing the way business is conducted today. Singapore has positioned itself to become a major part of the E-business trend. Developing technology, government support, and growing internet awareness make Singapore an ideal environment in which E-commerce can thrive. Lee Yock Suan sums up Singapore's E-commerce environment by saying ,"We want to be plugged into this global development, and position Singapore as an international E-commerce hub." ReferencesWWW.Singstat.gov202.42.217.232/WWW.Geography.com.sgWWW...
