With such situations in the state, Singapore planned a proposal and implemented it by planning and constructing housing projects for its people. This resulted in creating employment opportunities for the Singaporeans. Meanwhile a lot of money was injected in educational plans for the local population which resulted in skills being generated in the public which can be devoted in many working sectors. Unlike economies such as Brunei Darussalam, Indonesia, Malaysia, Thailand and the Philippines, which are all naturally endowed with rich and abundant resources, Singapore is devoid of natural resources. Being dependent economically on entrepôt trade, industrialization began only after the British left. The unemployment rate was high because trading activities alone could not create sufficient jobs for the populace. Due to massive unemployment, it was critical then that industrial policies supporting economic development must lead to more job opportunities. The government thus embarked on industrialization programs to build labor-intensive industries as a pragmatic means of solving the severe unemployment problems plaguing the country. The government’s immediate task then was to maximize employment creation to prevent social unrest and political upheaval (Tan, 1995; Wong, 1995).
Little priority was given to foster an innovative culture in the workforce, even for industries that are capital-driven and equipment-intensive. National innovation programs were met with skepticism by trade unionists because large-scale innovation projects were viewed as industrial initiatives that would lead to eventual job losses. Industrial policies were thus explicitly focused on job creation for Singapore to survive economically and politically as a newly-born nation. With an open-door policy of welcoming foreign investors to set up factories and hence provide more jobs, industrial policy-making dealt extensively with labor-related issues to protect employment concerns. By refraining from creating a socialist welfare state, the government’s industrial policies supported a labor-intensive industrialization strategy.
These are just random excerpts of essays, for a more detailed version of essays, term papers, research paper, thesis, dissertation, case study and book reviews you need to place custom order by clicking on ORDER NOW.