Upon achieving independence, Singapore strategically focused on economic development, establishing the Economic Development Board in 1961 under Goh Keng Swee. With guidance from Dutch advisor Albert Winsemius, the nation prioritized its manufacturing sector, setting up industrial zones like Jurong and wooing foreign investment with tax incentives. Singapore's strategic port location proved advantageous, facilitating efficient exports and imports, which bolstered its industrialization. As a result, Singapore transitioned from entrepot trade to processing raw materials into high-value finished products, positioning itself as an alternative market hub to the Malaysian hinterland. This shift was further solidified with the formation of ASEAN.^[19]

The service industry also witnessed substantial growth, driven by the demand from ships docking at the port and increased commerce. With Albert Winsemius's assistance, Singapore successfully attracted major oil companies such as Shell and Esso, propelling the nation to become the third-largest oil-refining hub globally by the mid-1970s.^[19] This economic pivot demanded a skilled workforce proficient in refining raw materials, contrasting with the resource extraction industries prevalent in neighboring countries.

Recognizing the need for a workforce adept in global communication, Singapore's leaders emphasized English language proficiency, making it the primary medium for education. The educational framework was meticulously crafted to be intensive and practical, focusing on technical sciences over abstract discussions. To ensure the populace was well-equipped for the evolving economic landscape, a significant portion of the national budget, approximately one-fifth, was allocated to education, a commitment the government continues to uphold.