You are here: HomeSingapore 2015 › New Golden Age

Singapore enters a new golden age

By Angelo Romualdez
- Jan 10, 2015
Credit : GMI Post


Ahead of celebrations to mark fifty years of independence later this year, the city-state looks back on how successfully and quickly this former British colonial post progressed into one of the world’s most dynamic financial centers and most stable economies.

Beyond its dominance in finance and trade, Singapore is building a reputation as a leading center of business services, education, and green technology, and information technology, thanks to a growing community of entrepreneurs and venture capitalists.

“We have come a long way since independence in 1965. We first focused on education, technology, trade, and the rule of law. This made Singapore into the economically vibrant and liveable international hub that it is today. So far, this has helped us deal with our land and resource constraints. Even as Singapore transformed, so has the world around us, which has created new challenges and opportunities,” said Foreign Affairs Minister K. Shanmugam.

Amid the robust economic growth in the country, Singapore hopes to play a dominant role in the region as the ten-member Association of Southeast Asian Nations moves towards economic integration.

“As a founding member of ASEAN, Singapore places great importance on the grouping. We believe it is important to maintain ASEAN’s centrality in the evolving regional architecture, which should be open, inclusive and outward-looking so that ASEAN can serve as a neutral platform for major powers to engage one another and the region,” Shanmugam also said.

Reflecting the significance of Singapore on the global economy, business organizations in the country are among the oldest in the Asia and boast an impressive roster of members, which include the world’s largest companies.

The Singapore International Chamber of Commerce (SICC) was established in 1837 and is the longest serving chamber of commerce in the region. It represents some of the world’s largest international corporations and leading companies in Singapore,” recalled SICC Executive Director Victor Mills.

“Consistent engagement with policy and decision makers gives our members a competitive advantage in today’s ever evolving economy. Singapore continues to offer many attractive opportunities for business both in the republic itself and as a very effective gateway to the region. Our roots in Singapore are as deep as our commitment both to the country and to the businesses which sustain it,” Mills also said.

Singapore’s education sector has also raised the qualifications of its graduates by facilitating partnerships between local institutions and foreign universities, a development that also further internationalized the city-state’s future workforce. So, it is no surprise that many global businesses look to Singapore’s talent pool for their employees.

“Research has to be both interdisciplinary and international today, as many fundamental issues the world is facing require solutions that come from different perspectives and specialties,” said Professor Bertil Andersson, President of Nanyang Technological University (NTU Singapore).

“NTU itself is a microcosm of the world with students, professors and staff representing 100 nationalities. We collaborate not just across disciplines but with other top academic, industry and research partners,” he added.

NTU has more than 400 international partnerships. For example, it has a joint medical school set up with Imperial College London and its premium Renaissance Engineering Program offers students a choice to spend a year at University of California, Berkeley or Imperial College London, with internships at Silicon Valley or in Europe.

Through partnerships with industry giants such as Lockheed Martin, BMW and Rolls- Royce, the university translates its research into benefits for the world.

By interacting with people of different backgrounds and cultures on campus and overseas, NTU students, faculty and researchers benefit immensely from being exposed to different approaches and world views.

A young, research-intensive university on a rapid global rise, NTU Singapore has 33,000 undergraduate and postgraduate students in Medicine, Engineering, Business, Science, and Humanities, Arts, & Social Sciences.

Article Tags:

Singapore 2015 was prepared for and originally printed in Foreign Affairs magazine.

PDF of the printed report

latest special features:

Upcoming Reports from

U.S. Great Lakes 2018

See Preview »

With a relationship going back more than 160 years, the United States and Japan share very deep historical ties. And the Midwest states of Illinoi...

Germany 2018

See Preview »

The economic center of gravity shifts further towards Asia. With over 4 billion people, Asia is becoming a more sophisticated consumer market for g...

Japan 2018

See Preview »

As Abenomics shows signs of working, Japan is experiencing record growth. The world is keen to see Japan’s next steps for its comeback as the Asian...

Singapore 2017

See Preview »

After celebrating 50 years of independence in 2015, Singapore enters a new phase in its history. With this recalibration, the world is keen to know...

Northwest USA 2017

See Preview »

Global Media Inc. continues its coverage of the United States by returning to the dynamic business environment of Northern California and heading f...

Kazakhstan 2017

See Preview »

2016 was a landmark year for Kazakhstan. It marked the 25th anniversary of the independence of Central Asia’s largest country and establishment of ...




  • Global Media is your partner in reaching a powerful international audience through high-level economic reporting.

    Our ambition is to highlight under-reported developments and opportunities around the world, and allow leaders in these regions and sectors to take their message to the highest global level. We partner with top media to communicate with the world’s most powerful audiences. We specialize in communication and branding initiatives that help our clients effectively get their messages to their existing and potential partners. We achieve results for our clients by introducing them and their initiatives to an audience of elite international business and government leaders.

    Global Media Inc. is an independent media agency with offices in Hong Kong and Canada. GMI has more than a decade of experience in the writing, researching, and production of promotional country reports, with media partners from East Asia to North America. We have teams worldwide that develop country and thematic reports on the latest economic trends and developments.

    We are a media partner of Foreign Affairs,the United States’ most influential publication, published by the New York-based Council on Foreign Relations.

    Nearly a century old, there isn’t a more influential or higher-reaching publication in the United States than Foreign Affairs. The journal is ranked #1 in influence by U.S. opinion leaders in a recent nationwide study conducted by Erdos and Morgan, the premier business-to-business research firm. Their findings place Foreign Affairs ahead of all media, both print and broadcast, including The New York Times, The Wall Street Journal, The Economist, and The Washington Post.

    Testimonials:

    “We were extremely impressed with how efficient, well-coordinated, responsive and reliable the Global Media Inc. team was. We owe them a lot for their professionalism. We were very pleased with the outcome, and the article was very well-written. We hope to have an opportunity to work with Global Media Inc. again in the near future.� – Japan Airport Terminal Co. Ltd.
    “The Global Media team’s professionalism was excellent. Their team was great and always gave us the right suggestions and information. The product was excellent, and we were very happy to have such a great opportunity working with their excellent team.â€� – National Graduate Institute of Policy Studies (GRIPS)
    “We were honored to be chosen as one of the good universities in Japan. This article conveyed Seigakuin University’s educational ideals and the message from President Akudo. The advertisement was conspicuous and gave a good impression that Seigakuin nurtured students to contribute to world peace. We really appreciated what Global Media Inc. had did for us.â€� – Seigakuin University

    Whom we have featured:

    • Australian Prime Minister Julia Gillard
    • Australian Foreign Affairs Minister (and former Prime Minister) Kevin Rudd
    • Japanese Prime Minister Shinzo Abe
    • Qatari Minister of International Trade and Industry Dato’ Sri Mustapa bin Mohamed
    • Japanese Minister of Education, Culture, Sports, Science and Technology Yoshiaki Takaki
    • Taiwanese Foreign Minister Yang Chin-Tien
    • Taiwanese Finance Minister Lee Sush-Der
    • Taiwanese Economic Affairs Minister Shih Yen-Shiang
    • Taiwanese National Science Council Minister Lee Lou-Chuang,
    • Taiwanese Deputy Minister of Transport and Communications Yeh Kuang-Shih
    • Taiwanese Political Deputy Minister of Education Dr. Lin Tsong-Ming
    • Indonesian Ambassador to the United States Dr. Dino Patti Djalal
    • Indonesian Investment Coordinating Board Chairman Gita Wirjawan
    • Philippine President Benigno S. Aquino III
    • Philippine Senate President Juan Ponce Enrile