August 7, 1965 as a result of the conflict, Singapore was expelled from the Malaysian federation, and Aug. 9, 1965 received formal independence. From 1959 to 1990, during the reign of Lee Kuan Yew, Singapore, lacking resources, was able to solve many internal problems and made the leap from third world countries to highly developed countries with high living standards. At the time of independence, Singapore is a small, poor countries that had to be imported, even fresh water and building sand. Neighboring countries have been set up unfriendly, and one third of the population sympathized with the Communists. Themselves and their associates of Lee Kuan Yew described as "bourgeois group that received the British education leaders. " Economic development strategy the government of Lee Kuan Yew was based on the transformation of Singapore's financial and trading center of Southeast Asia, as well as attracting foreign investors.
Today Singapore's economy boasts many. Singapore – one of the world's largest ports. Singapore – the third largest (after Houston and Rotterdam), the world center of oil refining and the fourth world producer semiconductors. Singapore's gdp per capita is over 26 thousand dollars. In Asia, this indicator the country is second only to Japan as the world takes 16 th place, ahead of countries such as Spain and Italy. And Singapore – Asia's largest financial center, in many respects not inferior to Hong Kong and Tokyo. Economists of many nations of the world consider Singapore an ideal place for business. This country has an excellent financial infrastructure, political stability and legal system of world-class.