4. No Corruption
Furthermore, After Singapore’s first Prime Minister, Li Kuan Yu took charge, the country went behind the slogan “Corruption Free Singapore.” For this, the Bureau of Corruption Investigation (BCI) was made strong and politically independent. Transparency International’s 2017 report on No Corruption cites that it is ranked sixth, while India at number 81.
5. Importance Of Infrastructure
In addition, One of the main reasons for Singapore’s development is the existence of high-quality infrastructure. Out of 231 cities, Singapore Cities top the list. Furthermore, Its infrastructures rank as some of the best. The metro is counted among the world’s best metro and it is considered as the powerhouse for its economy.
6. Geological Location
Furthermore, The country has taken advantage of its geological position in the world. According to the World Bank report, Singapore is the world’s largest transshipment container center today. In addition, There are many deepwater harbors on its 190-kilometer long coastline, which has more than 600 ports connected to the world. Its contribution to Singapore’s economy is about 15 percent.
7. Singapore’s Free Trade Policy
In addition, it had adopted the Free Trade Policy from the very beginning. This is the reason why foreign investment has been abundant there. As a result, This has strengthened the country’s economy. According to UNCTAD’s 28th Investment Trends Monitor report, it was eighth in the acquisition of foreign direct investment (FDI) in 2017.
Furthermore, India has a lot to learn from countries like Singapore, not just visit it and marvel at them. With a more proper administration and combined efforts of people, India can easily become developed on or even beyond Singapore’s scale. In conclusion, We have better resources and more workforce to do so as well. What do you think about Singapore? Let us know in the comments below. Singapore also has a very nice airport which is in the top 10 fanciest airports around the world list. Check the list here.