The former prime minister of Singapore said, "If I have to choose one word to explain why Singapore succeeded, it is confidence."
When Singapore became independent in 1965 there were 3 priorities Lee Kuan Yew has set out to focus on
- Getting international recognition of Singapore's independence
- Defend Singapore from external threat
- Develop its economy and provide job for its citizen.
Even though Singapore still need British military assistance to deter foreign attacks, they did whatever they can to become self reliance.
Lee Kuan Yew Strongly believed that his people's morale and confidence would be decisive in the coming battle for Singapore's survival.
On his first visit to America, he gave a speech to 50 businessmen in Chicago and told them about his proud nation. How Singapore had grown from a village of 120 fishermen to become a metropolis of 2 million due to is philosophy to provide goods and services that is cheaper and better than anyone else.
The speech was well received and gave confidence to the business men on Singapore.
Lee Kuan Yew would later answer difficult questions from several executives who might be interested in investing in Singapore.
His confidence and persistence in educating the western world about Singapore was the foundation for all of the investment opportunities for the nation.
As a result of his visits and speeches, Lee Kuan Yew's team at Economic Development Board (EDB), the agency responsible for promoting and sourcing investments in Sinagpore, had much better access to US executives and investors.
Coupled with EDB's eagerness to serve and the discipline to deliver, this pave way for greater opportunities which eventually land Singapore the deal that was the turning point for their economic success.