Every independent nation needs to sacrifice blood to earn their valuable independence, its the natures rule. But it’s different for Singapore and quite interesting too.
Year 1959 : Singapore got its independence from Britain. Singapore wants to be with Malaysia but Malaysia didn’t want them and get them out of the Federation of Malaya in 1965. that day Former Prime Minister of Singapore Lee Kuan Yew can’t control his tears. He can’t digest the insult of getting kicked out of Malaysia.
On that time Singapore had literally no natural resources. Many people thought that Singapore can’t stay long with these natural resources and condition. But proved their assumption false now Singapore is one of the richest countries of the world. Lee Kuan Yew is the main man for this Success.
How was the Condition of Singapore in 1960?
In 1960 Singapore’s population was less than 2 million. With 719 square kilometer area now Singapore’s population is 5.6 million. there were So many poor people in Singapore that it had most slum area in the world And GDP was less than 1 billion USD too. But now Singapore GDP is 447.3 billion USD.
In 1960 Singapore’s Per capita income (PCI) / per head income was only 427 SGD ( Singaporean dollar ) per year but now their Per capita income (PCI) is 76,863 SGD ( 2017 income year ). which is more than Germany, France even from Japan.
When Lee Kuan Yew take the responsibility of Singapore it was one of the most corrupted countries, political turbulence was a daily matter. But now Singapore is on number 7 for the anti corrupted country.
How Singapore reach today’s this position?
In a word, it was Lee Kuan Yew’s foresight and wisdom.
How Lee Kuan Yew did it?
Lee limits the operations of foreign banks and prevent the internationalization of the Singapore dollar ( SGD ). So, international firms take this opportunity to establish themselves in Singapore. He made strong financial and economic policy then ensure a corruption-free environment. lee also give emphasize on technological sector development as a result international companies made Singapore as their regional hub.
Lee motivates free trade, which helped Singapore to get lots of international investment and multinational giants such as Sony Corporation, Microsoft & Apple, Google, Panasonic. in 1971 America de-linked the dollar from gold and Singapore take the chance and make it a regional hub for foreign exchange which makes them huge benefit.
For keeping local peoples happy lee establishes Economic Development Board –
This board slowly built up local Singaporean industries and businesses and motivate international companies to invest in Singaporean economy. These local and international companies provide job opportunities for locals and help them to slowly move out of poverty.
Lee also made Housing Development Board –
The housing board transformed Singapore into mega city that helped its citizens to move out of small slum into carefully planned housing properties and upgrade living condition for its citizens.
Lee Kuan Yew turns Singapore into one of the world’s richest country with no natural resources and no other support.
FYI: Singapore Jewel Changi Airport is now open For public with world’s tallest indoor waterfall. ( To get details about it Stay with us )
What did your countries leaders do for your country?