ABSTRACT
Since its independence in 1965, Singapore has achieved tremendous economic advancement. From earning a GDP of S$2.15 billion in 1960 to a GDP of S$153 billion in 2001, the city-state is today a reputable financial center, a key regional trading center, the world’s busiest port and a top location for investment. Singapore is one of the newly industrialized countries (NICs), which were hailed as a great economic success in the 1990s.
