ABSTRACT
By the time of Separation, Singapore had taken steps to build a sound, yet adventurous, economic future – economic planning, industrialization, manufacture for export, including the encouragement of multinational corporations (MNCs) to invest in the country. Some of Singapore's success economically must be attributed to luck. For example, in the early 1970s it benefited from the effects of the oil exploration boom in the region. Additionally, well-chosen policies helped to put Singapore on the right economic track. Under the guidance of its first Finance Minister, Goh Keng Swee, it was committed to economic stability through low inflation, along with liberal trade and foreign exchange policies.
