Singapore is commemorating its 60th year of independence on August 9, 2025. The nation has made remarkable progress since its early days. At the time of independence, Singapore’s GDP per capita stood at approximately $516, following its separation from Malaysia and the end of its role as a key hub of the British Empire in Southeast Asia. Dr. Albert Winsemius, a Dutch economist who spearheaded the United Nations Development Programme’s initiative to advise on industrialization, painted a challenging but not insurmountable scenario for Singapore. The nation grappled with issues like high unemployment, inadequate housing, and limited educational opportunities.
Fast forward to today, Singapore boasts one of the highest GDP per capita figures globally. Its educational institutions are renowned for excellence, and it consistently ranks among the top 10 countries in quality-of-life assessments. The 60th anniversary celebration serves as a testament to these achievements and also serves as a reminder of the hard work and dedication that have propelled Singapore to its current status as a dynamic and prosperous global city-state with a promising future.
A cornerstone of Singapore’s success lies in its cultivation of enduring national values. Meritocracy, adherence to the rule of law, and a staunch stance against corruption have become ingrained in the country’s fabric. Singapore is recognized as the third least corrupt nation by Transparency International’s Corruption Perceptions Index and consistently excels in the World Justice Project’s Rule of Law Index, particularly in regulatory enforcement. Moreover, Singapore leads among Southeast Asian nations in the Global Social Mobility Index by the World Economic Forum, demonstrating strong performance in crucial areas such as healthcare, education, and access to technology and employment opportunities.
The quality of Singapore’s civil service and public institutions has also been pivotal in its success story. The nation ranks third globally in the 2022 Chandler Good Government Index, showcasing strengths in policy effectiveness and institutional trust. Furthermore, Singapore clinched the top spot in the 2024 Blavatnik Index of Public Administration for its exceptional leadership, public service delivery, policy formulation, and integrity. Citizens and visitors alike have come to expect a proficient, effective, and corruption-free bureaucracy in Singapore.
Singapore’s exemplary public infrastructure, including Singapore Changi Airport, the public transportation network, and public healthcare facilities, underscores its commitment to excellence. Singapore Changi Airport consistently claims the title of the world’s best airport, while the Mass Rapid Transit (MRT) system has garnered international acclaim for its inclusive design catering to elderly and disabled passengers. The MRT system’s AI-powered monitoring system, recognized with an award for operational excellence, has significantly enhanced service reliability. Singapore’s public healthcare system is commended for its positive health outcomes, with Singaporeans enjoying high life expectancy and low infant and maternal mortality rates.
In addition to its domestic achievements, Singapore’s forward-looking and principled foreign policy stance has played a pivotal role in its success. Trade, being a cornerstone of Singapore’s economy, is three times the size of its GDP today. The nation consistently advocates for a stable, rules-based multilateral trading system to foster economic opportunities for its citizens and businesses. Singapore has forged robust bilateral, regional, and multilateral frameworks to bolster trade, with 28 free trade agreements (FTAs) already in place. Furthermore, Singapore embraces innovative partnership agreements to promote rules and norms in emerging trade sectors like the digital economy.
Shifting focus to Singapore’s relations with Bangladesh on its 60th anniversary, the two nations have enjoyed a longstanding friendship since establishing bilateral ties in February 1972. While rooted in strong people-to-people connections, the relationship has evolved into a multifaceted partnership encompassing trade, investment, energy, healthcare, infrastructure development, port management, and capacity-building.
As Bangladesh navigates crucial reforms post the events of July and August 2024 to restore democracy and prosperity, Singapore remains committed to supporting these efforts through capacity-building initiatives. Over 2,100 Bangladeshi civil servants have benefited from Singapore’s capacity-building programs, with a commitment to further collaboration in this area.
Economically, Singapore holds significance as Bangladesh’s ninth-largest trading partner in 2024, with bilateral trade in goods amounting to around $3.3 billion last year. Singapore has also been a key investment partner for Bangladesh, with cumulative investments reaching approximately $1.4 billion. Notable investments include Sembcorp’s 420MW gas-fired power plant in Sirajganj. Anticipating deeper economic ties, Singapore eagerly awaits the green light for Singapore port operator PSA to develop Chattogram’s Bay Terminal, a move poised to transform Bangladesh into a transport hub in the Bay of Bengal.
As Bangladesh embarks on economic reforms, Singapore pledges continued support in diversifying economic products and services. The mutual commitment to forging a Free Trade Agreement (FTA) underscores the shared vision of enhancing bilateral economic cooperation, with an aim to conclude the agreement in time for Bangladesh’s graduation from the Least Developed Country (LDC) status