Singapore is one of the greatest examples for a country that has made it from rags to riches. Post its divorce from Malaysia, Singapore has managed to make it more than big isn’t it?
Within 5 decades, Singapore has managed to become one of the biggest trade oriented economies with low tax rates, and third highest per-capita GDP in the world. Here’s what we can learn from them,
1. Need Cleanliness? Ban chewing gum.
2. Need a good workforce? Create a world-class education system.
3. Need land? Import sand from Indonesia and expand the shores.
4. Need a good government? Grab the best talent out of high school.
5. Need population growth? Be liberal on immigration.
6. Need racial harmony? Start a national service to create social cohesion.
7. Need babies? Give tax grants
Parents are eligible to claim the Parenthood Tax Rebate (PTR)* of $5,000 for their 1st child, $10,000 for the 2nd child, and $20,000 for the 3rd and each subsequent child.
They have become a developed country at the fastest rate possible. Don’t you think its time for us to learn some lessons from Singapore?