INDUSTRIALIZATION.

Industrialization was the main reason why Singapore economy still strived. even though we did not have many natural resources nor land. In the mid-1970s, Singapore suddenly underwent a rapid industrial advance on low-cost labor, low to middle-level technology, and a rapid increase in exports. At that time, Singapore's planners emphasized on high technology, particularly information technology, and our production valued at S$14,509.7 million, fractionally higher than earnings from financial and business services, double those from commerce, and nearly equal to the total of commerce and transport and communications. This represented a 20-percent increase over 1987. The manufacturing sector's continuing success was largely a function of Singapore's ability to attract foreign investment through a favorable business climate and then provide investors with an educated, trained, and disciplined labor force.


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