This paper examines the coordination for the strategy of economic development between the government and business community through state credibility building. By focusing on Singapore, this paper examines the economic growth and governmental performance to measure the effect of this strategy, and identifies credibility governing as a necessary component during the process of state building and economic development in newly industrializing countries. The findings support that 1) the government needs to build policy credibility to encourage high probabilistic belief of successful growth and the requirement for continuous credibility sustaining. 2) While the economic development is more likely to occur with the effectiveness of state-led credibility building, such political communication achieving economic growth does not necessarily lead to political liberalization.