Part 5/10:
Recognizing that economic progress was intertwined with human capital, Lee focused heavily on education. A reformed educational system was implemented, prioritizing skill development and innovation. Scholarships and specialized institutions were established to nurture talent, creating a highly skilled workforce ready to tackle contemporary industry challenges.
The manufacturing sector boomed quickly, as the government encouraged foreign investments through attractive tax incentives and streamlined business procedures. By transitioning from a primarily agrarian society to a thriving industrial economy, Singapore diversified its economic base and attracted global corporations seeking regional headquarters.