How did Singapore become the world's economic hub? Who started trade in this country and why, and what is its connection to the Dutch?

News Topical, Digital Desk : Singapore was founded on January 28, 1819. At that time, the Dutch ruled the maritime trade routes of Southeast Asia. The British, then ruling India, were also looking for a route for maritime trade.

Sir Stamford Raffles, an officer of the British East India Company, was looking for a strategic position from which to challenge the Dutch, and that position should be located at the mouth of the Strait of Malacca.

Singapore was made a trading center

When Sir Stamford Raffles landed on Pulau Ujong, the main island of Singapore, in search of a suitable trading post, he saw that the island could not only provide a safe natural harbour but also provide a complete surveillance of the maritime trade between India and China.

Raffles struck a deal with the local administrator, allowing the British to establish a trading post on the island of Singapore.

Raffles made the area tax-free to enable the establishment of a trading post. This "free port" policy became a major factor in Singapore's success.

The foundation of the economic hub was laid in 1819

The Dutch port was heavily taxed at the time, but Raffles' policies invited merchants from around the world to do business in Singapore.

Raffles also improved the merchant facilities at his ports. From 1819 onwards, Singapore began to develop modern roads, offices, and warehouses.

The British also benefited from the island's advantageous geographical location, which soon became a major port for ships to dock, repair, and exchange goods.

This trading mission, initiated by Stamford Raffles, is the primary reason Singapore has become an economic hub. It remains a global trading center today.

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