How is the Singapore economic development ?

Singapore economic development

Singaporeans have diligent and extraordinary work attitude, and made in Singapore for a number of the first prize, as the world’s airlines (Singapore airlines), one of the world’s most busy port and transport port, the world’s first night safari park, the world’s highest waterfalls, the highest hotel – Swiss hotel Singapore-Stanford – the world’s largest fountain in the city, the fountain of wealth, and so on.
Not only is the world’s third-largest oil refining centre, Singapore is also the important goods distribution center, the main products are tin, rubber, coconut, oil, rice, wood, jute, spices and coffee. Singapore is the world’s Banks to gather financial centres, including the bank of America, ABN AMRO bank, Deutsche bank, Tokyo, etc., all with advanced communications equipment tocontact with Singapore and all over the world trading center.

How is the Singapore economic development


The traditional economy is given priority to with business in Singapore, including transit trade, processing and export, shipping, etc. After independence, the government insist on free economic policy, vigorously attract foreign investment, the development of diversified economy. Began in the early 80’s, accelerates the development of emerging industries, capital-intensive, high value-add to invest heavily in infrastructure construction, with the most advantageous business environment to attract foreign investment. In manufacturing and service industries as two engines of economic growth, improve industrial structure, especially attaches great importance to the information industry in the 90’s, has invested in the Singapore integrated network island built. In order to further promote economic growth, vigorously promote “regional economic development strategy”, speed up to foreign investment, actively develop in foreign economic activity. The economy is given priority to with five departments: business, manufacturing, finance, construction, communications and transportation. Manufacturing products mainly include electronic products, chemical and chemical products, machinery and equipment, transportation equipment, petroleum products, oil refining and other departments. Is the world’s third-largest oil refining centre. Less than 1% share of agriculture in the national economy, mainly in poultry and aquaculture. All imported food and vegetable produced only 5%, the vast majority of imports from Malaysia, China, Indonesia and Australia. Services for Singapore’s economic growth leading industries, including retail and wholesale trade, restaurants, tourism, transport and telecommunications, financial services, business services, etc. Tourism is one of the major source of foreign exchange income in Singapore.


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