Singapore is a small island city state in South East Asia with an area of approximately 648 km square. Despite the inherent disadvantages of a small domestic economy and lack of natural resources, Singapore has established itself as one of the top trading nations in the world, and is consistently voted as one of the best business destinations. It is also recognized as one of the most competitive economies in the world, supported by an increasingly …showed first 75 words of 701 total…

…showed last 75 words of 701 total…However, having completed the first lap of development over the last two decades, but we must now, together, run the next lap, to be an innovation-driven economy. It will take time and there will be some crashing of gears as we step up to the next level of competition. But it is crucial that we take decisive and determined steps to make these changes for our future prosperity and not rest on our past laurels.