Establishing good relationships with overseas clients is key to Singapore’s economic development, and one EDB scholar shares how he has been on the frontline of this mission.
By Benjamin Lim
From a per capita GDP of $500 in the 1960s, to more than $50,000 today, Singapore’s economy has come a long way.
As a small country without natural resources, Singapore depends heavily on foreign investments to bolster its economy.
Companies with the confidence to invest in Singapore have helped it evolve from a labour-intensive one five decades ago, to one that is capital-, knowledge-, and innovation-driven.
The Singapore Economic Development Board (EDB), established in 1961, has been a galvanising force in developing our economy and attracting foreign investment, and has the vital role of charting our economic future.