The correlation between economic and educational excellence is unmistakable, as knowledge ultimately drives prosperity. With no natural assets or distinctive advantages, the Singaporean government has recognized, and continues to advocate, that human capital is their only resource. To constantly develop their economy, Singaporeans must be equipped with the necessary skills and learning to fulfil the workforce, understanding that these skills must adapt and evolve according to global advancements; in other words, Singapore must work towards building a learning society.
Consequently, along with constant modernization and rapid change, Singapore’s economy must evolve to meet the growing dynamic needs unique to the 21st century. These needs, which depend upon innovation, creativity, and a constant drive for knowledge, are gained through a knowledge-based economy. A knowledge economy honours intellectual capital and emphasizes the need for continuous learning throughout life.