The document discusses the growth and development of Singapore over the past 50 years. It covers Singapore's strong economic growth and GDP increase, investments in educational and healthcare development that have contributed to high literacy rates and low infant mortality. It also describes Singapore's infrastructure developments, including major projects, that have positioned it as Asia's infrastructure hub with a robust ecosystem of professional services supporting projects.

1. SHORT TITLE: GROWTH AND DEVELOPMENT OF THE SINGAPORE 1
General Growth and Development of the Singapore
Author:
Professor:
Date: 01/31/2020

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Table of Contents
Introduction................................................................................................................................3
Singapore’s Economy and GDP: ...........................................................................................3
Educational Development:.....................................................................................................4
Health care Development in Singapore: ................................................................................4
Infrastructural Development in Singapore:............................................................................5
References..................................................................................................................................7

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Introduction
Among countries, Singapore could be considered as the world most appealing place
for people having a population 5.612 million according to census of 2017. The nation having
robust economic growth, Singapore have every corner depict a perfect picture of discipline,
and punctuality. It is one of the richest countries having GDP per capita leads above
US$58,247. Singapore positioned a prominent example in the world by utilizing most of its
budget on the human development. Pertinent to securing a promising position in the Human
Development Index of 2018 having value 0.935, Singapore has also made a milestone to
achieve the 7th Highest GDP per capita (according to the census of 2018) in the world.
Moreover, Singapore is taking a leading role to put emphasis on education.
Reference to above discussion, this study is focusing on highlighting the key
indicators behind growth and development of Singapore.
Singapore’s Economy and GDP:
Singapore is happy and prosperous country. It has a developed and free economy.
Every sector is developing parallelly in the nation. Standard of living is very high in
Singapore, when compared to other Asian Countries. Prior to industrial development, where a
large chunk of population got jobs with the establishment of industries. Financial assistance
to the entrepreneur was assured through banks set ups. Daily wages were high as compared to
other nations. These remarkable steps produce Singapore’s Economy most favorable for pro-
business, with low tax of 14.2%, and 3rd least corrupt index. Exports, mainly in chemicals,
electronics and services including Singapore's position as the regional hub for wealth
management, provide the prominent revenue source for the economy, which allows it to
purchase raw goods and natural resources which it lacks. In 2018, Singapore had a total
export of 411,743,293.75 US$ (in thousands) and total imports of 370,503,520.53 US$ (in

4. RUNNING HEAD: GROWTH AND DEVELOPMENT OF THE SINGAPORE 4
thousands) leading to a positive inclined trade balance of 41,239,773.22 US$ (in thousands).
The Effectively Applied Tariff Weighted Average (EATWA) for Singapore is 0.24% and the
Most Favored Nation Weighted Average tariff is 0.68% (Martin, 2019).
Relevant to economic growth of Singapore, GDP also saw a dramatic rise. Between
2018-2011, The Gross Domestic Product (GDP) per capita in Singapore was last recorded at
58247.90 US dollars in 2018. The GDP per Capita in Singapore is equivalent to 461% of the
world's average, which contribute GDP growth of 3.7% in 2017 and 3.1% in 2018.
Singapore’s trade to GDP ratio (Gross Domestic Product) was considered among top
countries between 2011-2018 . According to census of 2017, GDP by sector including,
agriculture 0%, services 75.2% and industry 24.8% have been noted (Freedom, 2019).
Educational Development:
Singapore is among few countries that focused their emphasis to sustain its program of
education development. Due to collaborative efforts of politicians, adult literacy at Norway
exceeds 97.05%. According to report published by UNESCO, male literacy of Singapore rate
noted as 98.73%, while females were 94.50%. Singapore in the age gap of 25-34 years have
completed their upper secondary education. Moreover, several reforms were made to improve
the quality of education in private and public institutions. These reforms include change in
governance at the institutional level, adequate funding for the educational institutions,
financial support (scholarships) to students, new degree structure (bachelor and masters
programs), internalization and action plan for prevention of conflict, racism, radicalization
and violent extremism (Charlene Tan, 2016).
Health care Development in Singapore:
For Singapore’s leadership health care is among top priority as compared to other sectors.
Singapore was ranked on 6 in the World Health Organization in the year 2000, among best in
Asian Countries. The infant mortality rate in 2018, was approximately 2.1 deaths/1,000 live

5. RUNNING HEAD: GROWTH AND DEVELOPMENT OF THE SINGAPORE 5
births. The low infant mortality rate can be credited to a good health-care system. Moreover,
the death rate in Singapore from 2007-2017, were about 5 deaths/1,000 inhabitants, which is
extremely low among Asian countries. Leadership of Singapore is forecasting long term
positive results by investing more in health sector. According to Census of 2017, Singapore
had invested SGS 11 Billion in health care. Healthcare infrastructure in Singapore comprises
of both private and public healthcare facilities (22 hospital) with both offering high quality of
medical care but generally different level of comfort and health care service. Insurance,
Health plans, and benefits vary largely and typically on individual’s employer and
immigration status. Singapore permanent residents and citizens are permitte to subsidized
government healthcare services through compulsory national savings scheme. These
government facilities comprised of several government polyclinics and hospitals for
inpatient services.
Beside the services of Government Health care facilities, private facilities in Singapore are
also leading a dominant role in providing health services to its citizens. These facilities
consist of numerous private clinics, accompanying high tech-medical systems (Hawksford,
2017).
Infrastructural Development in Singapore:
Economic growth of Singapore in past 50 years has shaped a robust infrastructure ecosystem,
including professional services, financers, developers, and other supporting services. With
world-renowned skills and expertise in areas such as management, project structure,
investment and financing, Singapore-based developers work closely with stakeholders and
governments institutions to bring a project from conceptualization to completion. Singapore
now assists as the Asia-Pacific base for many international banks with advisory and project
finance lending specialization having 65% of project finance transactions in Southeast Asia
lead-managed by Singapore-based banks. Multinational and local companies have played a

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significant role in the investment, financing, and development of Singapore’s infrastructural
environment over the past 40 years. From engineering design to master-planning,
construction, procurement, these firms are equipped with skills and expertise across the entire
value chain for regional and local infrastructure projects. The vital infrastructural tools
Singapore optimize to streamline infrastructural activities in past 12 years, were global
infrastructure project pipeline, infracompass, and PPP risk allocation. Current Mega
infrastructural Projects include, Marina Bay Project, Jurong Innovation districts (About to
complete in 2022), CapitaSpring, and Guoco Midtown (about to complete in half of 2022)
(Reuters, 2017).

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References
Charlene Tan, K. K. (2016, January). The education system in Singapore. Research Gate, p.
07. Retrieved from Research Gate.
Freedom, 2. I. (2019). Singapore . Retrieved from 2019 Index of Economic Freedom :
https://www.heritage.org/index/country/singapore
Hawksford. (2017). Healthcare in Singapore . Retrieved from GuideMeSingapore World:
https://www.guidemesingapore.com/business-guides/immigration/get-to-know-
singapore/healthcare-in-singapore
Martin, E. (2019, December 11). The Economy of Singapore. Retrieved from InterNations
Go: https://www.internations.org/go/moving-to-singapore/banks-taxes/the-economy-
of-singapore
Reuters. (2017, December). 50 years of growth as Asia’s Infrastructure Hub. Retrieved from
Reuters: https://www.reuters.com/brandfeatures/infrastructure2030/singapore-hub