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1965-1970: Singapore’s Development Plan

As a new nation, Singapore had to rapidly industrialise the economy to address labour unrest

Last updated 6 October 2025

Case study: The British military withdrawal

Gaining a Foothold in the Global Market

Singapore’s growing industries produced goods not for the domestic market, which was far too small, nor even for the regional market in Southeast Asia…Our market was the world market. They brought with them not only production and management know-how, but also the world market for their products.
Then-Finance Minister Goh Keng Swee in an essay, "A Socialist Economy That Works", published in 1976
Portrait of Then-Finance Minister Goh Keng Swee
Read more: Supporting infrastructure

Focusing on Education and Training

Excerpt from then-Finance Minister Goh Keng Swee's essay, "A Socialist Economy That Works"

Quelling Labour Unrest and Communism

“Their (the communists’) goal was as little economic development as possible, in order to foment unrest and dissension; thus creating the basis for seizing power…It was evident that no entrepreneur would invest his money in a country disorganised to such an extent.
Dr Albert Winsemius in a speech to GE International Personnel Council Meeting in Singapore on 19 June 1984
Portrait of Dr Albert Winsemius
NTUC held the “Modernisation of the Labour Movement” seminar

Image: NTUC

Read more: Tripartism
Tripartism in Singapore resulted in a marked decrease in the number of work stoppages and man-days lost by 1968

Image: The introduction of tripartism in Singapore resulted in a marked decrease in the number of work stoppages and man-days lost by 1968; Singapore Year Book 1968; National Archives of Singapore