Without a doubt, Singapore today is one of the world’s most
acclaimed trading center with the world’s busiest port, located at the furthest
point of the Strait of Malacca. Likewise, it has been a crucial element in
reinforcing Singapore’s economy, turning itself rapidly from a remote trading
post to one of the world’s leading economies. Hence, the world at large
attributed the success story of Singapore partly to its geographical
advantages. By discerning the benefits of Singapore’s natural harbor, former
prime minister Lee Kuan Yew made a crucial decision, which was the
construction of Southeast Asia’s earliest container port in 1966. Looking back
to the history, Apparently, about 170,000 people are currently employed in this
sector as the port has been extensively expanding ever since. It is noteworthy
to mention that this field contributes 7 percent of Singapore’s gross domestic
product (GDP).