Singapore gained independence in 1965. For most historians, fifty years are not enough to achieve what Singapore as a nation has achieved. It is one of the best tourist destinations and is a famous business hub for all local and international markets. It has gained substantial economic success and should be praised for its outstanding growth. It is one of the few countries of the world which offers free trade opportunities. Joining organizations and being an active member of the Commonwealth, Singapore welcomes people of all countries to visit and learn in their country. The importance of Asia has increased in the past years and this has augmented the opportunities for Singapore as its location is in main South-East Asia. This has increased jobs in Singapore and hence increased the GDP in the last few years.
The increased competition has created some problems for Singapore as well which would have to be solved in the future. For example, the planned Dawei Port Development Project in Myanmar offers a cost-efficient profitable entry to Asia, sinking reliance on the crowded Straits of Malacca. This can grind down Singapore’s relative benefit in harbor expansion, ensuring monetary damage. Furthermore, globalization has formed better variety inside the society and led to new communal confrontations for Singapore. Singapore’s level of economic growth is waning so it must look further than its coast to take advantage of latest prospects to maintain its expansion. With an incomplete domestic market, there is a superior necessitate for dual lawmaking actions in public-private firms and creating more Free Trade Agreements and Investment Guarantee Agreements with rising markets to continue its profitable expansion. Another challenge that the government of Singapore is facing is that of increasing pollution and environmental damage. Singapore is a country which has a huge rainforest. The government has made laws and rules to protect the animals and plants that are living in the rain forest. As Singapore is developing its industry, pollution is also increasing which is affecting the habitat. This challenge needs to be addressed immediately.
In Singapore’s assorted culture there is a greater need to counterfeit stronger society ties. This can be accomplished through volunteerism, which has been rising in Singapore. People realize the importance of this and about one-third of the residents spend their time helping communities. The Singapore government must, therefore, seize the opportunity to improve the Community Integration Fund, give confidence to organizations to lead community projects and work mutually to create a joint consideration amid members of society. Singapore should look to construct incorporated work-live places. For example, more exertion could be conducted to enlarge housing hubs such as the Tampines Fringe hub, as they put together housing offices with trading shopping malls. Focus should also be shifted to improving the education being provided. Young graduates are looking for jobs which if provided can improve the GDP immediately. Singapore is working hard and will produce excellent results like it has been in the past.