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Singapore: The New Center For Finance

Singapore gained its independence some 50 years ago, and in half a century Singapore has managed to go from a tiny Island Country that no one knew about to one of the leading names in the world of finance, tourism, and culture, etc. Singapore went from an underdeveloped, poor nation to one of the more known well-developed nations in a short period, and it has only grown stronger with time. Singapore has also had one of the best responses in terms of handling the Covid-19 crisis, keeping its rate of infection very low and prevented its health system from collapsing the way it has in most countries that are currently trying to handle the crisis.

Singapore gained independence from colonial rule in 1965 and it has never looked back since. The entire country went through serious changes initially where the government focused on urban planning and development, and they then focused on keeping the country clean, and then went on to take advantage of the ports in Singapore, turning it into a financial hub in a very brief time. What is interesting is that Singapore has been moving up at a faster rate than any other country and has managed to overthrow Hong Kong, which made Singapore the biggest financial hub in Asia, and also became the 4th largest financial hub in the world, and is moving towards the 3rd position as well.

Singapore has done great things and this is why it has managed to attract a lot of foreign interest. You will find international investors analyzing and trying to break into Singapore’s market. If you happen to be interested in applying for a job in Singapore or are looking to become a PR and reap the many benefits offered by Singapore, you should look into APPLYFORPRSINGAPORE.COM to get your facts right and make sure you are ready with everything once you do start the process of applying for PR in Singapore.

We can trace the beginning of Singapore’s financial activity by focusing on the time during the colonization. Singapore was turned into a trading post for the East India Company at the time. This started Singapore’s future in trade and shipping, and this is where Singapore’s strength lied being an Island Country. All of the financial offices, warehouses, and docks were all established across the Singapore River for ease of access. However, once Singapore became an independent nation, it then took the next step and started strategizing and developed a more systematic approach to developing the financial market and sector in Singapore. Singapore established an Asian Dollar Market to continue trading with American markets which then included European markets as well. Singapore also established the Asian Currency Unit (ACU), allowing for trading with Asian countries, and it also allowed foreign investors to enter the market and trade with Singapore as well. This allowed Singapore to have access to the world, and for the world to have easier access to Singapore.

The country then focused its attention on development and then worked on developing every sector that they knew would prove to have a financial advantage for them. Singapore started urban planning and creating proper centers and districts, allowing for a better distribution of resources. After Singapore developed its urban planning, it started focusing on other things like cleanliness, tourism, trade, and so on. Singapore initially did not generate tourist traffic, however, the country is now able to rake in millions of tourists every year. This is another way the country has been able to pull in a lot of money as well.

Essentially if you read up the entire story of the growth of Singapore, you will find that this trajectory is possible because of the work of good planning, proper leadership, and then a nation that did not refuse to give up. Singapore started over from scratch in a lot of ways. They used to live in small huts and villages, barely had a sewage system, and were struggling to make ends meet. However, with time the country was able to seize all of the opportunities that were presented to it, and even if it was not given any opportunities, it created its own. Singapore is now known around the world for its urban planning as a garden city, its beautiful sights, tourist opportunities, clean streets, and so on. Singapore also offers a lot of financial promise and this is why there are so many foreign investors in the country that are looking to profit from trading within the Singaporean market. Singapore is a land of opportunity that is only projected to keep going forward with its current trajectory. So if you are looking to change things up, we suggest looking towards the far east, especially Singapore in terms of opportunities for change and growth.

savvyglobetrotter

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