- Hon Sui Sen
Hon Sui Sen (zh-sp|s=韩瑞生|p=Hán Ruìshēng; 1916 - 1983) was born in
Penang in the BritishStraits Settlements . A Hakka, he was educated at Saint Xavier's Institution. Hon was top-placed in the 1932 Senior Cambridge Certificate Examination. In 1935, he commenced studies atRaffles College ,Singapore , graduating in 1938 with a Class I Diploma in Science.After graduation, Hon entered the Straits Settlements Civil Service as a Police Court Magistrate. Following this, he assumed responsibilities as a Deputy Collector of Land Revenue prior to the Japanese occupation of Malaya and Singapore. After the War, Hon remained with the Land Office and by 1957 had become Land Commissioner. In 1960, Hon was attached to the
World Bank for an economic management course, where he metAlbert Winsemius . Dr. Winsemius led theUnited Nations Survey Mission to Singapore in late 1960, and was to play a major role in the formulation of Singapore's national economic development strategy.Hon returned to serve from 1961-1968 as the first Chairman of the
Economic Development Board , or EDB, and then from 1968-1970 as Chairman of theDevelopment Bank of Singapore , or DBS. He was also a council member of theSingapore Institute of Management from 1965 to 1968. Hon formally retired from the Civil Service in 1965, but his involvement in Singapore's economic development continued unabated. In 1970, Hon succeededGoh Keng Swee as Minister of Finance and served in that capacity for 13 years until 1983. In 1982, Hon was named the Economic Minister of the Year by theEuromoney magazine.As Chairman of the EDB (founded
August 1 ,1961 ), Hon played a key role in the implementation of Singapore's industrialization strategy, with theJurong Industrial Estate (JIE) as the first major project. Sited on swamplands in the west of Singapore, the JIE soon became the centrepiece of an industrialization program that stretched from garments and toys to petrochemicals and electronics. The first factory inJurong , the National Iron and Steel Mill, was opened onAugust 2 ,1963 . By 1968, there were about 300 factories employing 21,000 people inJurong . In conjunction with the development of the industrial estate, satellite towns were built in the west of Singapore, transforming the Jurong area into a centre of both industrial and residential development.During his time with DBS, Hon was a supporter of the establishment of the Asian dollar market and thus played a key role in the development of Singapore's financial services industry.
Subsequently as Finance Minister, he established the Bases Economic Conversion Department to oversee the conversion and commercialization of lands and facilities that had been left behind by the British military following their withdrawal in 1968. Hon also played a major role in the development of Singapore's tourism industry, beginning with the transformation of
Pulau Blakang Mati , a previously fortified island off the southern coast of Singapore, into a resort destination under the new appellation ofSentosa Island.He died in office as Minister of Finance on
October 14 ,1983 , leaving behind his beloved wife, Annie Hon, and his four daughters (all presently married); Joan (akaHan May ), Elizabeth, Vivien, and Brenda.The
National University of Singapore 's Business library is named after him. His office is also preserved within the library.
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