After gaining independence, Singapore has become one of the most wealthiest and developed countries in the world. During the British rule, Britain used the island as a major naval base. So, a lot of traffic, goods, etc. enabled Singapore to develop very fast.
It is considered one of the most business friendly countries in the world. So, if somebody wants to start a company, (s)he should go there. Since it is very rich (for example, it has the largest percentage of millionaires, and a lot of its citizens have their own house), it hasn't a big social layering between the rich and not so rich.
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