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Singapore's economic growth thanks to foreign capital
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| The road to independence in 1965 was at first long and uncertain. In 1965, the situation of this new Asian country seemed almost unbridgeable. Indeed, there were no natural resources, a completely non-existent industrial base, high unemployment, a very low and fragile level of education, and social tensions aggravated by ethnic clashes. A series of major economic reforms nevertheless allowed the city-state to take full advantage of its privileged geographical position while ensuring a standard of living equal to or even higher than that of Western countries. Currently, the Republic of Singapore is ranked in the top positions of many international rankings that focus on global competitiveness, the attractiveness of the territory in terms of investments, GDP per capita, life expectancy, the ease of doing business, the level of qualification of the workforce, the employment rate, the absence of corruption, and the confidence of its citizens in its institutions. The strong presence of high-tech companies in Singapore is important for investment. |
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