We in Singapore are proud that a small city-state thousands of miles away should be able to participate in this revitalisation. The Middle East is the main provider of oil for Japan. This was the time that Singapore had just gained its independence in 1965. As part of the Singapore Government s Industrialisation plan, the marine industry was promoted making use of facilities left behind by the British and Singapore s strategic location. It turned out to be a correct decision, and the Government s support for the industry has been a key factor in the success of the marine industry in Singapore.
Brazil has an even longer tradition in the maritime industry.
In the early 1970s, Brazil rose to be the second largest shipbuilder in the World. Like Singapore, Brazil benefited from the inflow of foreign investment and technology and, coincidentally, part of this was also from IHI of Japan. In the 1980s and early 1990s, the industry here unfortunately suffered a series of setbacks due mainly to economic instability, high inflation and currency devaluation. In the last few years, however, because of good financial and economic policies, economic stability has returned and the Brazilian Government has started to revitalise the industry. In sharp contrast to Singapore, Brazil is a huge country.