Singapore businesses and workers still have opportunities even in a less connected world: Chan Chun Sing
Nation will seek to stay connected, but will find opportunities even if world fragments
By Poon Chian Hui, Deputy Business Editor, The Straits Times, 15 Jun 2020
Countries are retreating from globalisation in the wake of the COVID-19 pandemic, but Singapore's workers and businesses can tap opportunities even in a less connected world, said Minister for Trade and Industry Chan Chun Sing yesterday.
This is because the Republic has its own intangible strengths which are not easily replicated elsewhere, including its connectivity as a trade hub and the trust that it has earned.
And while the pandemic has led to more protectionist barriers being erected between countries, Singapore must resist these pressures, said Mr Chan.
"A less connected world means a poorer world and fewer opportunities for all. A less connected Singapore means fewer and poorer quality jobs for us," he said in the fourth of six national broadcasts by ministers on Singapore's post-COVID-19 future.
Nevertheless, Singapore has developed resilience, such as by building networks, and diversifying supply sources and markets.
"Even in a more protectionist, less connected world, we can still make a living and more," he added.
Speaking at PSA Singapore's Pasir Panjang Terminal Building 3, Mr Chan also said that Singapore will press on to build connectivity infrastructure to reinforce the country's position as a hub for business, finance, trade and data flows.
"We will work to stay connected with the world, even as the world threatens to fragment and regress towards protectionism. Despite our size, we can show the way, if we have good ideas," he said.
The immediate focus is on jobs, given that the pandemic-induced downturn has led to falling incomes and job losses among workers, with layoffs expected to rise in the coming months.
A key initiative is the creation of 100,000 jobs and training opportunities in the coming year across various sectors, including healthcare and early childhood education. "We may well need to create more jobs, if the situation worsens," he added.
Mr Chan noted that even after Singapore reopens its economy, some companies will need to change their business models. Support will be given to help them, he said, such as in hiring and training graduates and mid-career workers.
But Singapore must look beyond the immediate challenges and invest in its intangible strengths.
Mr Chan noted that investors have chosen to site and expand their businesses here over the years because Singapore is open and connected to the world, is a trusted brand, is a united and stable society, and has a skilled workforce.
During the COVID-19 crisis, Singapore has built trust by choosing not to impose export restrictions or nationalise foreign investments. Production lines were kept open for global supply chains, including critical materials for surgical masks.
"In uncertain times, our trusted brand counts for even more. Businesses have noticed," said Mr Chan. "When they make their next investments to diversify their global production bases, we will be in the running."
Partnerships with other countries in the form of trade agreements will also open up opportunities for businesses and "signal to the world our confidence and determination to press on with regional economic integration", he added.
Infrastructure projects, including Changi Airport Terminal 5 and the Tuas Mega Port, will also offer opportunities for the future.
Meanwhile, digitalisation and internationalisation will help transform a generation of businesses and people to thrive in the digital world. Businesses can access new markets and form industry partnerships beyond local shores.
People can learn new skills and even gain the confidence to launch a business, such as in the case of Carousell's co-founders, who spent a year in Silicon Valley in the United States before they launched the e-commerce platform.
More will be done to boost industry partnerships and intensify the overseas exposure of Singaporeans, said Mr Chan.
He also noted that the Economic Development Board has captured $13 billion of investment commitments in the first four months of this year. This is despite the uncertain outlook in the next few years.
"As you can see, there are still many opportunities for us, but we must be on our toes," said Mr Chan.
"Survival favours not the strong, but the agile."
Nation will seek to stay connected, but will find opportunities even if world fragments
By Poon Chian Hui, Deputy Business Editor, The Straits Times, 15 Jun 2020
This is because the Republic has its own intangible strengths which are not easily replicated elsewhere, including its connectivity as a trade hub and the trust that it has earned.
And while the pandemic has led to more protectionist barriers being erected between countries, Singapore must resist these pressures, said Mr Chan.
"A less connected world means a poorer world and fewer opportunities for all. A less connected Singapore means fewer and poorer quality jobs for us," he said in the fourth of six national broadcasts by ministers on Singapore's post-COVID-19 future.
Nevertheless, Singapore has developed resilience, such as by building networks, and diversifying supply sources and markets.
"Even in a more protectionist, less connected world, we can still make a living and more," he added.
Speaking at PSA Singapore's Pasir Panjang Terminal Building 3, Mr Chan also said that Singapore will press on to build connectivity infrastructure to reinforce the country's position as a hub for business, finance, trade and data flows.
"We will work to stay connected with the world, even as the world threatens to fragment and regress towards protectionism. Despite our size, we can show the way, if we have good ideas," he said.
The immediate focus is on jobs, given that the pandemic-induced downturn has led to falling incomes and job losses among workers, with layoffs expected to rise in the coming months.
A key initiative is the creation of 100,000 jobs and training opportunities in the coming year across various sectors, including healthcare and early childhood education. "We may well need to create more jobs, if the situation worsens," he added.
Mr Chan noted that even after Singapore reopens its economy, some companies will need to change their business models. Support will be given to help them, he said, such as in hiring and training graduates and mid-career workers.
But Singapore must look beyond the immediate challenges and invest in its intangible strengths.
Mr Chan noted that investors have chosen to site and expand their businesses here over the years because Singapore is open and connected to the world, is a trusted brand, is a united and stable society, and has a skilled workforce.
During the COVID-19 crisis, Singapore has built trust by choosing not to impose export restrictions or nationalise foreign investments. Production lines were kept open for global supply chains, including critical materials for surgical masks.
"In uncertain times, our trusted brand counts for even more. Businesses have noticed," said Mr Chan. "When they make their next investments to diversify their global production bases, we will be in the running."
Partnerships with other countries in the form of trade agreements will also open up opportunities for businesses and "signal to the world our confidence and determination to press on with regional economic integration", he added.
Infrastructure projects, including Changi Airport Terminal 5 and the Tuas Mega Port, will also offer opportunities for the future.
Meanwhile, digitalisation and internationalisation will help transform a generation of businesses and people to thrive in the digital world. Businesses can access new markets and form industry partnerships beyond local shores.
People can learn new skills and even gain the confidence to launch a business, such as in the case of Carousell's co-founders, who spent a year in Silicon Valley in the United States before they launched the e-commerce platform.
More will be done to boost industry partnerships and intensify the overseas exposure of Singaporeans, said Mr Chan.
He also noted that the Economic Development Board has captured $13 billion of investment commitments in the first four months of this year. This is despite the uncertain outlook in the next few years.
"As you can see, there are still many opportunities for us, but we must be on our toes," said Mr Chan.
"Survival favours not the strong, but the agile."
Singapore's intangible strengths like trust cannot be easily replicated: Chan Chun Sing
Republic maintained its openness during crisis, showing the world it can be trusted
By Aw Cheng Wei, The Straits Times, 15 Jun 2020
Many investors have set up and expanded their businesses here over the years because they see Singapore's intangible strengths, which cannot be easily replicated elsewhere, Trade and Industry Minister Chan Chun Sing said yesterday.
These strengths include Singapore's openness and ability to be trusted, he added, citing how the country did not impose export restrictions or nationalise foreign investments during the COVID-19 pandemic.
Mr Chan said: "We kept our production lines open for global supply chains, including critical materials for surgical masks."
Singapore has also worked with companies to increase their production so that global needs could be met. It also facilitated the continued flow of essential goods and people through its ports and airports.
"Throughout this crisis, we have also continued to show the world they can trust Singapore," Mr Chan said, adding that businesses have noticed.
In the fourth of six national broadcasts by ministers on Singapore's post-coronavirus future, Mr Chan noted: "Just as how we did not restrict exports during the 1970s oil crises, that enhanced our credibility later to establish Jurong Island as a global petrochemical hub.
"When (companies) make their next investments to diversify their global production bases, we will be in the running."
Mr Chan added that Singapore must resist the pressures to retreat from globalisation and erect more protectionist trade barriers, as many countries had done in this crisis.
"A less connected Singapore means fewer and poorer quality jobs for us. Even in a more protectionist, less connected world, we can still make a living and more."
For example, capabilities can be built for Singapore to play a critical role in global supply chains for valuable and high-quality products and services.
"We make four out of the world's top 10 drugs, we are the world's seventh largest exporter of chemicals," Mr Chan said.
He also outlined how Singapore has made headway as an advocate of free trade. An initial partnership with Brunei, Chile and New Zealand grew to become the 11-member Comprehensive and Progressive Agreement for Trans-Pacific Partnership that was signed in 2018.
A joint ministerial statement with New Zealand to resist export restrictions and to uphold global supply chains during COVID-19 has drawn 11 countries, and counting, Mr Chan said.
Singapore is also growing its network of digital economy partnerships for companies here to grow their overseas markets.
Talks have concluded with Australia, Chile and New Zealand, with more agreements in the pipeline, Mr Chan said.
Also in the making is the signing of the Regional Comprehensive Economic Partnership this year, barring any unforeseen circumstances.
It will lower the cost of imports and exports for consumers and producers here, he added. The free trade agreement (FTA) signatories include the 10 Asean member states, Australia, China, Japan, New Zealand and South Korea.
Mr Chan said: "These agreements and other FTAs open up new opportunities for our businesses, and will make us a more attractive base for investments to serve the region.
"This will signal to the world our confidence and determination to press on with regional economic integration."
Resilience is another one of Singapore's intangible strengths, Mr Chan said, adding that the quality is a result of networks and the diversification of source markets for supplies: "We will never be able to have everything we would possibly need, for the next crisis."
He noted how the public and private sectors opened new supply lines to bring to Singapore essential goods such as masks, personal protective equipment and test reagents amid the various lockdowns around the world three months ago.
"Many of our supply chains were disrupted, if not broken," Mr Chan said. He cited companies involved in bringing in supplies - PSA, Singapore Airlines, Sats, ST Logistics, NTUC FairPrice, Sheng Siong and many more - and added: "Without all these unsung heroes, we would not have been able to live our lives as normally as we did in the last few months."
"We will work to stay connected with the world, even as the world threatens to fragment and regress towards protectionism. Despite our size, we can show the way, if we have good ideas."
Republic maintained its openness during crisis, showing the world it can be trusted
By Aw Cheng Wei, The Straits Times, 15 Jun 2020
Many investors have set up and expanded their businesses here over the years because they see Singapore's intangible strengths, which cannot be easily replicated elsewhere, Trade and Industry Minister Chan Chun Sing said yesterday.
These strengths include Singapore's openness and ability to be trusted, he added, citing how the country did not impose export restrictions or nationalise foreign investments during the COVID-19 pandemic.
Mr Chan said: "We kept our production lines open for global supply chains, including critical materials for surgical masks."
Singapore has also worked with companies to increase their production so that global needs could be met. It also facilitated the continued flow of essential goods and people through its ports and airports.
"Throughout this crisis, we have also continued to show the world they can trust Singapore," Mr Chan said, adding that businesses have noticed.
In the fourth of six national broadcasts by ministers on Singapore's post-coronavirus future, Mr Chan noted: "Just as how we did not restrict exports during the 1970s oil crises, that enhanced our credibility later to establish Jurong Island as a global petrochemical hub.
"When (companies) make their next investments to diversify their global production bases, we will be in the running."
Mr Chan added that Singapore must resist the pressures to retreat from globalisation and erect more protectionist trade barriers, as many countries had done in this crisis.
"A less connected Singapore means fewer and poorer quality jobs for us. Even in a more protectionist, less connected world, we can still make a living and more."
For example, capabilities can be built for Singapore to play a critical role in global supply chains for valuable and high-quality products and services.
"We make four out of the world's top 10 drugs, we are the world's seventh largest exporter of chemicals," Mr Chan said.
He also outlined how Singapore has made headway as an advocate of free trade. An initial partnership with Brunei, Chile and New Zealand grew to become the 11-member Comprehensive and Progressive Agreement for Trans-Pacific Partnership that was signed in 2018.
A joint ministerial statement with New Zealand to resist export restrictions and to uphold global supply chains during COVID-19 has drawn 11 countries, and counting, Mr Chan said.
Singapore is also growing its network of digital economy partnerships for companies here to grow their overseas markets.
Talks have concluded with Australia, Chile and New Zealand, with more agreements in the pipeline, Mr Chan said.
Also in the making is the signing of the Regional Comprehensive Economic Partnership this year, barring any unforeseen circumstances.
It will lower the cost of imports and exports for consumers and producers here, he added. The free trade agreement (FTA) signatories include the 10 Asean member states, Australia, China, Japan, New Zealand and South Korea.
Mr Chan said: "These agreements and other FTAs open up new opportunities for our businesses, and will make us a more attractive base for investments to serve the region.
"This will signal to the world our confidence and determination to press on with regional economic integration."
Resilience is another one of Singapore's intangible strengths, Mr Chan said, adding that the quality is a result of networks and the diversification of source markets for supplies: "We will never be able to have everything we would possibly need, for the next crisis."
He noted how the public and private sectors opened new supply lines to bring to Singapore essential goods such as masks, personal protective equipment and test reagents amid the various lockdowns around the world three months ago.
"Many of our supply chains were disrupted, if not broken," Mr Chan said. He cited companies involved in bringing in supplies - PSA, Singapore Airlines, Sats, ST Logistics, NTUC FairPrice, Sheng Siong and many more - and added: "Without all these unsung heroes, we would not have been able to live our lives as normally as we did in the last few months."
"We will work to stay connected with the world, even as the world threatens to fragment and regress towards protectionism. Despite our size, we can show the way, if we have good ideas."
Opportunities will be available for Singaporeans at every stage of their career: Chan Chun Sing
By Lim Min Zhang, The Straits Times, 15 Jun 2020
Singaporeans will have opportunities to improve their lives at every stage of their careers, no matter how old they are, Minister for Trade and Industry Chan Chun Sing said yesterday, pledging that the Government would always help Singaporean workers.
"We will never be done upskilling our people. This is especially so for workers who have left school many years ago and did not benefit from the more recent improvements in our education and training system," he said.
"So long as you are able and willing, we will support you. Every Singaporean, regardless of background, can have the chance to take on the new jobs being created."
In the fourth of six national broadcasts on Singapore's post-coronavirus future, Mr Chan added: "In the 1980s, we uplifted a generation through computerisation and automation. In the 2020s, we will transform another generation through digitalisation and data."
Noting that the COVID-19 pandemic has pushed many to embrace digitalisation, he said the Government will ensure that Singaporeans of all ages can go digital and thrive.
This effort includes having a thousand-strong digital ambassador corps to help companies apply digitalisation and help senior citizens use technology.
He also cited examples of businesses and government agencies already going digital. He said the Singapore Tourism Board is helping hospitality companies and event organisers overcome the collapse in travel demand by using digital tools. He pointed to event organiser Web In Travel, which is holding a virtual travel summit later this month.
Mr Chan also said businesses need to build partnerships in the real world to access new markets. He noted that property giant CapitaLand takes along Singapore companies in its overseas development projects, helping them to penetrate new markets, he said.
"The retail and hospitality sector may be going through a challenging time, but CapitaLand will press on and do more to support our local SMEs (small and medium-sized enterprises)."
To nurture a new generation of regional and global businesses, the Government will facilitate more industry partnerships and better organise overseas Singapore business chapters and missions to guide newcomers venturing overseas.
But Mr Chan also stressed that local business leaders need to have a global outlook.
"Our business leaders and workers will be key to these efforts. We must have the aptitude and attitude to serve global markets," he said. "We cannot be content with doing well just within Singapore."
To that end, he said that more will be done to help businesses access new markets.
The Scale-Up SG programme was introduced to groom promising local companies into global champions, said Mr Chan. "So long as our companies have the ambition, we will find the resources to support them."
Overseas exposure will be intensified through initiatives like the Global Ready Talent programme, so that Singaporeans can gain fresh perspectives and networks.
The programme, launched last year, provides support for young people keen to work abroad and for companies to train their staff through stints overseas.
He cited the example of Carousell founders Quek Siu Rui, Marcus Tan and Lucas Ngoo, who all spent a year in Silicon Valley as part of the National University of Singapore Overseas Colleges programme. The online marketplace today has grown beyond Singapore to eight markets across South-east Asia.
Mr Chan also noted that earlier this year, the Ministry of Education announced a "70-70 target" for more local students from institutes of higher learning (IHLs) to have some form of overseas exposure.
The aim is for 70 per cent of graduates from universities, polytechnics and the Institute of Technical Education to get some international experience, whether through an internship, exchange programme, or service learning or study trip.
This is up from half of all IHL students currently. Another 70 per cent of this proportion of IHL students will have exposure to Asean, China or India.
"We will press on with this once the COVID-19 situation allows," said Mr Chan.
By Lim Min Zhang, The Straits Times, 15 Jun 2020
Singaporeans will have opportunities to improve their lives at every stage of their careers, no matter how old they are, Minister for Trade and Industry Chan Chun Sing said yesterday, pledging that the Government would always help Singaporean workers.
"We will never be done upskilling our people. This is especially so for workers who have left school many years ago and did not benefit from the more recent improvements in our education and training system," he said.
"So long as you are able and willing, we will support you. Every Singaporean, regardless of background, can have the chance to take on the new jobs being created."
In the fourth of six national broadcasts on Singapore's post-coronavirus future, Mr Chan added: "In the 1980s, we uplifted a generation through computerisation and automation. In the 2020s, we will transform another generation through digitalisation and data."
Noting that the COVID-19 pandemic has pushed many to embrace digitalisation, he said the Government will ensure that Singaporeans of all ages can go digital and thrive.
This effort includes having a thousand-strong digital ambassador corps to help companies apply digitalisation and help senior citizens use technology.
He also cited examples of businesses and government agencies already going digital. He said the Singapore Tourism Board is helping hospitality companies and event organisers overcome the collapse in travel demand by using digital tools. He pointed to event organiser Web In Travel, which is holding a virtual travel summit later this month.
Mr Chan also said businesses need to build partnerships in the real world to access new markets. He noted that property giant CapitaLand takes along Singapore companies in its overseas development projects, helping them to penetrate new markets, he said.
"The retail and hospitality sector may be going through a challenging time, but CapitaLand will press on and do more to support our local SMEs (small and medium-sized enterprises)."
To nurture a new generation of regional and global businesses, the Government will facilitate more industry partnerships and better organise overseas Singapore business chapters and missions to guide newcomers venturing overseas.
But Mr Chan also stressed that local business leaders need to have a global outlook.
"Our business leaders and workers will be key to these efforts. We must have the aptitude and attitude to serve global markets," he said. "We cannot be content with doing well just within Singapore."
To that end, he said that more will be done to help businesses access new markets.
The Scale-Up SG programme was introduced to groom promising local companies into global champions, said Mr Chan. "So long as our companies have the ambition, we will find the resources to support them."
Overseas exposure will be intensified through initiatives like the Global Ready Talent programme, so that Singaporeans can gain fresh perspectives and networks.
The programme, launched last year, provides support for young people keen to work abroad and for companies to train their staff through stints overseas.
He cited the example of Carousell founders Quek Siu Rui, Marcus Tan and Lucas Ngoo, who all spent a year in Silicon Valley as part of the National University of Singapore Overseas Colleges programme. The online marketplace today has grown beyond Singapore to eight markets across South-east Asia.
Mr Chan also noted that earlier this year, the Ministry of Education announced a "70-70 target" for more local students from institutes of higher learning (IHLs) to have some form of overseas exposure.
The aim is for 70 per cent of graduates from universities, polytechnics and the Institute of Technical Education to get some international experience, whether through an internship, exchange programme, or service learning or study trip.
This is up from half of all IHL students currently. Another 70 per cent of this proportion of IHL students will have exposure to Asean, China or India.
"We will press on with this once the COVID-19 situation allows," said Mr Chan.
Long-term plans remain sound; projects like Changi T5, Greater Southern Waterfront will be completed even if timelines shift: Chan Chun Sing
By Tee Zhuo, The Straits Times, 15 Jun 2020
While timelines may shift, there should be no doubt that Singapore's major infrastructure projects will be completed, said Trade and Industry Minister Chan Chun Sing yesterday.
In a televised speech, the fourth in a series of national broadcasts by ministers laying out Singapore's post-COVID-19 plans, Mr Chan stressed that the pandemic has not changed the Government's commitment to its infrastructure plans.
"Our long-term plans remain sound... We will pace the timelines for these projects according to demand. But do not doubt this: We will get them all done," he said.
He added that the Government still sees the projects as critical investment for future generations.
"While others have to tighten their belts, our past prudence gives us the means to continue investing in our future. This way we will gift the next generation a higher starting base, just as how our predecessors did for us," he said.
The connectivity projects, he said, will reinforce Singapore's position as a choice hub for business, finance, trade and data flows.
He listed key projects such as Changi Airport Terminal 5, Tuas Mega Port and submarine cable hubs. He also cited regional developments like Punggol Digital District, Jurong Lake District, Sungei Kadut Eco-District, and the Greater Southern Waterfront (GSW).
Several of these are high-profile projects which Prime Minister Lee Hsien Loong has highlighted in past National Day Rally speeches.
For example, at the latest rally in August last year, PM Lee gave more details on the GSW, a 30km stretch of coastal prime land about six times the size of Marina Bay.
It is slated for transformation into an area for leisure, office spaces and residential use once Tanjong Pagar Terminal - now being used as a COVID-19 facility - moves fully to Tuas from 2027.
The more than $20 billion mega port at Tuas is being constructed in phases and will be about twice the size of Ang Mo Kio. It was slated for completion in 2040 and will be the world's largest fully automated terminal.
PM Lee made Jurong Lake District a key highlight of his 2014 rally. The 360ha area will be the largest mixed-use business district outside the city centre when completed.
For Singapore to thrive as a hub, Mr Chan said efforts will be intensified to attract the best ideas and talent. "We will make ourselves a more attractive safe harbour for talent, ideas and intellectual property, to grow more businesses and create better jobs... Talented people, including our own, can go anywhere," he said.
Acknowledging concerns about foreign competition, he stressed that closing up was not the answer. Instead, support will be provided to help Singaporeans compete, he said.
"We cannot escape competing with the world, and proving our mettle," he said. "We will give our workers the training and support to excel, and we will ensure that the competition is fair. This is the best way to improve the well-being of our people."
Making a living in a COVID-19 world
The Straits Times, 15 Jun 2020
This is the transcript of a national broadcast by Minister for Trade and Industry Chan Chun Sing on how to keep Singapore's economy competitive so that businesses can prosper and good jobs can be created. The broadcast is the fourth in a series of six by ministers. The next broadcast is on Wednesday by Senior Minister and Coordinating Minister for Social Policies Tharman Shanmugaratnam.
Fellow Singaporeans, COVID-19 has impacted our lives, livelihoods and lifelines, and it has aggravated already difficult global challenges.
Trade and investments have come down. People and businesses in many countries have lost confidence in globalisation and technology. They have been disrupted, and their governments have been unable to help them adjust. Bigger countries have been fighting over the tax revenues of global companies, and that has affected international competition for investments and jobs.
Countries are all doing their best to keep people safe and healthy, secure essential items, such as food and medicine, save jobs and businesses in the face of severe decline in demand and investments.
Singapore is not immune. Many Singaporeans have already lost their jobs. More job losses are expected in the coming months. Others have seen their incomes fall. It will be a tough job market in the coming years. Some businesses have closed. Many more are struggling. Most wonder how to survive, never mind thrive.
We cannot save every job and every business, but we will take care of every Singaporean. We will not let widespread unemployment erode the confidence and dignity of our people. We will grow new businesses and create good jobs for all Singaporeans.
This Government has committed almost $100 billion to care for every Singaporean, help save businesses and jobs. But it is not just about spending money.
What is even more important is our ability to plan, adapt and execute.
This is how we will do it.
IMMEDIATE PRIORITIES
Our immediate focus is jobs. We will create 100,000 jobs and training opportunities in the coming year. The range of jobs will include healthcare, early childhood education, transport, ICT (information and communications technology) and financial services. One hundred thousand jobs - that is three times our usual annual number. This is how many we will need, to help those coming out from schools, as well as those retrenched. We may well need to create more jobs, if the situation worsens.
We will also increase the capacity of our training institutions to equip more workers, especially mid-career ones, with new skills required for the new economy. This help will come to where you are. We will set up job centres in every town to match displaced workers to new jobs. We will work hard to make sure everyone who wants a job can get a job.
Many say the best way to save jobs is to resume our economic activities more quickly.
I understand. But opening up hastily and closing businesses again if infections spike once more, will be more disruptive to businesses and workers. Hence, let us resume safely, progressively and sustainably.
Even after reopening, we should not expect "business as usual". Some businesses will need to change their business models. We will help you to redesign your operations and serve new markets. Many F&B businesses like SaladStop! and Beauty In The Pot have launched delivery-friendly menus to serve new customers. Others still have viable business models. We will help you to rebound when demand picks up. We will support you to hire and train graduates and mid-career workers in advance. Logistics and professional services are examples of sectors where we are starting to do this.
LONGER-TERM GOALS
As we tackle the immediate challenges, we must also prepare for the future. The Future Economy Council, chaired by DPM (Deputy Prime Minister) Heng (Swee Keat), has been driving this for the last few years.
We will invest to develop our intangible strengths - what distinguishes us; our infrastructure - for they are key enablers; and above all, our people and businesses.
Intangible strengths
First, our intangible strengths. Over the years, many investors have chosen to site and expand their businesses here, in Singapore. They did not make this decision for the short term, nor did they choose Singapore because we have abundant natural resources, or because we are cheaper.
They chose us because of our strengths, which are not easy to replicate elsewhere. We are open, and connected with the world, we are trusted, we are united and stable as a society, and we have a skilled workforce.
For many countries, COVID-19 has accelerated the retreat from globalisation, and the erection of more protectionist barriers. We must resist these pressures. A less connected world means a poorer world and fewer opportunities for all. A less connected Singapore means fewer and poorer-quality jobs for us.
Even in a more protectionist, less connected world, we can still make a living and more.
We can build capabilities to play critical roles in global supply chains to produce high-quality products and services that others value. For example, we make four out of the world's top 10 drugs, we are the world's seventh-largest exporter of chemicals.
Our resilience comes from building networks, and diversifying our supply sources and markets. We will never be able to have everything we would possibly need, for the next crisis. Indeed, when lockdowns started across the world three months ago, many of our supply chains were disrupted, if not broken. Credit goes to the ingenuity and tenacity of our people for keeping us going. Our public and private sectors swung into action, reached out to their networks, opened new supply lines to bring back essentials like masks, PPE (personal protective equipment) and test reagents from across the world.
Individuals from PSA, SIA (Singapore Airlines), Sats, ST Logistics, NTUC, Sheng Siong and many more. Without all these unsung heroes, we would not have been able to live our lives as normally as we did in the last few months. Thank you all!
Another intangible strength is trust. Singapore is trusted globally. Throughout this crisis, we have also continued to show the world they can trust Singapore. We did not impose export restrictions or nationalise foreign investments. We kept our production lines open for global supply chains, including critical materials for surgical masks. We worked with companies to increase their production, so that we could meet Singapore's and the world's needs, and we facilitated the continued flow of essential goods and people through our ports and airports.
In uncertain times, our trusted brand counts for even more. Businesses have noticed.
When they make their next investments to diversify their global production bases, we will be in the running. Just as how we did not restrict exports during the 1970s oil crises - that enhanced our credibility later to establish Jurong Island as a global petrochemical hub.
Our investors have stood by us through this difficult period. We know the challenges investors face, with manpower flows and family reunions. We will work closely with you to overcome the challenges together. We will keep faith with you, as you have with us.
We will work to stay connected with the world, even as the world threatens to fragment and regress towards protectionism. Despite our size, we can show the way, if we have good ideas.
When promoting free trade, our initial partnerships with Brunei, Chile, and New Zealand eventually grew to become today's CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership). Together with New Zealand, we issued a joint ministerial statement to resist export restrictions and uphold global supply chains. From a party of two, we now have 11 subscriber countries, and counting.
We are building a network of digital economy partnerships. The partnerships will define the rules for competing and cooperating in the new economy. They will create opportunities for our companies to grow their overseas markets. We have concluded such agreements with Australia, Chile and New Zealand. More are on the way.
Barring unforeseen circumstances, we look forward to signing the RCEP (Regional Comprehensive Economic Partnership) agreement this year. This will cover all 10 Asean member states, plus Australia, China, Japan, New Zealand and South Korea. It will lower the cost of imports for our consumers, and exports for our producers.
These agreements and other FTAs (free trade agreements) open up new opportunities for our businesses, and will make us a more attractive base for investments to serve the region. This will signal to the world our confidence and determination to press on with regional economic integration.
Together with our trade association partners, we will translate these trade agreements into tangible advantages for our companies, through platforms like GlobalConnect@SBF.
Infrastructure
Second, as we develop our intangible strengths, we will invest in the next generation of infrastructure for Singapore. While others have to tighten their belts, our past prudence gives us the means to continue investing in our future. This way we will gift the next generation a higher starting base, just as how our predecessors did for us.
We will press on to build our connectivity infrastructure to reinforce our position as a choice hub for business, finance, trade and data flows. This is why I am here today at our port, which is the heart of our trade connections to the world.
Our long-term plans remain sound. They include projects like Changi T5, Tuas Mega Port, and submarine cable hubs. Likewise, regional developments like Punggol Digital District, Jurong Lake District, Sungei Kadut Eco-District, Greater Southern Waterfront.
We will pace the timelines for these projects according to demand. But do not doubt this: We will get them all done. Together, they will create a vibrant and innovative Singapore for our children - full of opportunities, full of life.
We will also intensify the efforts to attract the best ideas and talent to compete on our side, and complement our strengths. Initiatives like the Global Innovation Alliance connect us with talent hubs across the world. We will make ourselves a more attractive safe harbour for talent, ideas and intellectual property, to grow more businesses and create better jobs. Competition is intense. Talented people, including our own, can go anywhere.
I know many Singaporeans are concerned with foreign competition, but closing ourselves up is not the answer. We cannot escape competing with the world, and proving our mettle. We will give our workers the training and support to excel, and we will ensure that the competition is fair. This is the best way to improve the well-being of our people.
Our businesses and people
Finally, beyond investments in intangibles and infrastructure, this Government will ensure that every member of Team Singapore shares the benefits of growth. Let me highlight two efforts: digitalisation and internationalisation.
COVID-19 has pushed many businesses and consumers to embrace the digital world. The digital trajectory will only accelerate, and not reverse. We must enable every Singaporean, young and old; every business, big and small, to go digital and thrive.
Companies will embrace digital tools to create new business models and transcend our local market constraints. For example, STB (Singapore Tourism Board) is helping our hospitality companies and event organisers to overcome the collapse in travel demand by using digital tools. One event organiser - WiT or Web In Travel - is engaging global audiences though a virtual travel summit later this month, across different countries.
In the 1980s, we uplifted a generation through computerisation and automation. In the 2020s, we will transform another generation through digitalisation and data, and not just the young in high-tech companies. We are building a thousand-strong Digital Ambassador Corps to help small and micro enterprises apply digitalisation, and help senior citizens to learn to use the technology.
But helping businesses access new markets must go beyond the digital online to establish real partnerships in the real world. Many Singapore businesses have established regional and global presence in the past years, often in partnerships. The more established and larger companies help newcomers and smaller businesses. For example, CapitaLand brings along Singapore companies in its overseas development projects, thus helping them to penetrate new markets. The retail and hospitality sector may be going through a challenging time, but CapitaLand will press on and do more to support our local SMEs (small and medium-sized enterprises).
We will step up such efforts to nurture a new generation of regional and global businesses. We will facilitate more industry partnerships, including in the digital space, like how Singapore E-Biz and Alliance 21 are helping local food manufacturers drive international business. Likewise, we will better organise our overseas Singapore business chapters and missions to guide newcomers venturing overseas.
Our business leaders and workers will be key to these efforts. We must have the aptitude and attitude to serve global markets. Our people must have the entrepreneurial spirit to venture abroad to compete, and seize the opportunities of a fast-growing Asia. We cannot be content with doing well just within Singapore. We introduced Scale-up SG to groom promising local companies into global champions. So long as our companies have the ambition, we will find the resources to support them.
We will intensify the overseas exposure of our people, through initiatives like the Global Ready Talent Programme, so that they gain fresh perspectives and networks.
That is what we did for many students, including Carousell co-founders (Quek) Siu Rui, Marcus (Tan), and Lucas (Ngoo). They spent a year in Silicon Valley, as part of the NUS (National University of Singapore) Overseas Colleges programme. This laid the foundation and gave them the confidence to later launch Carousell, which their team has grown beyond Singapore to eight markets across South-east Asia today. We will scale up such opportunities for our people.
Earlier this year, MOE (Ministry of Education) announced our "70-70" target to enable more students from institutes of higher learning (IHL) to gain overseas exposure - 70 per cent of IHL students to have an overseas exposure, 70 per cent to focus on China, India and Asean. We will press on with this once the COVID-19 situation allows.
We will never be done upskilling our people. This is especially so for workers who have left school many years ago and did not benefit from the more recent improvements in our education and training system. Our promise is this: We will create opportunities for all Singaporeans, no matter how old you are, to improve your lives at every stage of your careers. So long as you are able and willing, we will support you. Every Singaporean, regardless of background, can have the chance to take on the new jobs being created.
CONFIDENCE FOR THE FUTURE
We can be confident that our investments in our strengths, our infrastructure, and our people are all coming together. This is why in the first four months of this year, EDB (Economic Development Board) has already captured $13 billion of investment commitments, from companies like ExxonMobil, Micron, and ST Microelectronics, and some companies continue to hire and grow their businesses, like Innosparks, Secretlab, and Shopee.
Even though the outlook for the next few years is uncertain, investors maintain their confidence in Singapore to base their new and exciting projects here.
For example, Hyundai will be setting up their Mobility Global Innovation Centre in Jurong. It will be a next-generation innovation and manufacturing platform incorporating artificial intelligence, Internet of Things, and robotics to produce electric vehicles of the future. When ready in 2022, it will create many new and exciting opportunities for our workers.
Our local companies are confident too. In my regular visits to our local companies, I have seen many big and small companies in different sectors actively transforming their businesses, such as Prima, Hai Sia Seafood, and Markono Print Media. What cheered me most is that they have upskilled their workforce in the process. They didn't leave the workers behind.
As you can see, there are still many opportunities for us, but we must be on our toes. Survival favours not the strong, but the agile.
CONCLUSION
Our Pioneer and Merdeka Generations built our economy from scratch. They laid our strong foundations, brick by brick - Changi Airport, HDB (Housing Board) flats, MRT lines, SIA, DBS, PSA and many more. In fact, they moved us from Third World to First in one generation, and saved enough to set aside reserves for future generations.
They showed us what it means to be Singaporean. That while we are not of common ancestry, race, language or religion, we are defined by our determination to chart our own destiny, guided by the values of openness, inclusiveness, self-determination, meritocracy and incorruptibility for us to defy the odds of history, and not only survive but thrive with the world as our hinterland and our markets.
Fifty-five years on, we are better positioned to keep Singapore going, growing and glowing.
We will build a better Singapore together, where our future generations have the pride, the means, and the gumption to be called Singaporeans.
By Tee Zhuo, The Straits Times, 15 Jun 2020
In a televised speech, the fourth in a series of national broadcasts by ministers laying out Singapore's post-COVID-19 plans, Mr Chan stressed that the pandemic has not changed the Government's commitment to its infrastructure plans.
"Our long-term plans remain sound... We will pace the timelines for these projects according to demand. But do not doubt this: We will get them all done," he said.
He added that the Government still sees the projects as critical investment for future generations.
"While others have to tighten their belts, our past prudence gives us the means to continue investing in our future. This way we will gift the next generation a higher starting base, just as how our predecessors did for us," he said.
The connectivity projects, he said, will reinforce Singapore's position as a choice hub for business, finance, trade and data flows.
He listed key projects such as Changi Airport Terminal 5, Tuas Mega Port and submarine cable hubs. He also cited regional developments like Punggol Digital District, Jurong Lake District, Sungei Kadut Eco-District, and the Greater Southern Waterfront (GSW).
Several of these are high-profile projects which Prime Minister Lee Hsien Loong has highlighted in past National Day Rally speeches.
For example, at the latest rally in August last year, PM Lee gave more details on the GSW, a 30km stretch of coastal prime land about six times the size of Marina Bay.
It is slated for transformation into an area for leisure, office spaces and residential use once Tanjong Pagar Terminal - now being used as a COVID-19 facility - moves fully to Tuas from 2027.
The more than $20 billion mega port at Tuas is being constructed in phases and will be about twice the size of Ang Mo Kio. It was slated for completion in 2040 and will be the world's largest fully automated terminal.
PM Lee made Jurong Lake District a key highlight of his 2014 rally. The 360ha area will be the largest mixed-use business district outside the city centre when completed.
For Singapore to thrive as a hub, Mr Chan said efforts will be intensified to attract the best ideas and talent. "We will make ourselves a more attractive safe harbour for talent, ideas and intellectual property, to grow more businesses and create better jobs... Talented people, including our own, can go anywhere," he said.
Acknowledging concerns about foreign competition, he stressed that closing up was not the answer. Instead, support will be provided to help Singaporeans compete, he said.
"We cannot escape competing with the world, and proving our mettle," he said. "We will give our workers the training and support to excel, and we will ensure that the competition is fair. This is the best way to improve the well-being of our people."
Making a living in a COVID-19 world
The Straits Times, 15 Jun 2020
This is the transcript of a national broadcast by Minister for Trade and Industry Chan Chun Sing on how to keep Singapore's economy competitive so that businesses can prosper and good jobs can be created. The broadcast is the fourth in a series of six by ministers. The next broadcast is on Wednesday by Senior Minister and Coordinating Minister for Social Policies Tharman Shanmugaratnam.
Fellow Singaporeans, COVID-19 has impacted our lives, livelihoods and lifelines, and it has aggravated already difficult global challenges.
Trade and investments have come down. People and businesses in many countries have lost confidence in globalisation and technology. They have been disrupted, and their governments have been unable to help them adjust. Bigger countries have been fighting over the tax revenues of global companies, and that has affected international competition for investments and jobs.
Countries are all doing their best to keep people safe and healthy, secure essential items, such as food and medicine, save jobs and businesses in the face of severe decline in demand and investments.
Singapore is not immune. Many Singaporeans have already lost their jobs. More job losses are expected in the coming months. Others have seen their incomes fall. It will be a tough job market in the coming years. Some businesses have closed. Many more are struggling. Most wonder how to survive, never mind thrive.
We cannot save every job and every business, but we will take care of every Singaporean. We will not let widespread unemployment erode the confidence and dignity of our people. We will grow new businesses and create good jobs for all Singaporeans.
This Government has committed almost $100 billion to care for every Singaporean, help save businesses and jobs. But it is not just about spending money.
What is even more important is our ability to plan, adapt and execute.
This is how we will do it.
IMMEDIATE PRIORITIES
Our immediate focus is jobs. We will create 100,000 jobs and training opportunities in the coming year. The range of jobs will include healthcare, early childhood education, transport, ICT (information and communications technology) and financial services. One hundred thousand jobs - that is three times our usual annual number. This is how many we will need, to help those coming out from schools, as well as those retrenched. We may well need to create more jobs, if the situation worsens.
We will also increase the capacity of our training institutions to equip more workers, especially mid-career ones, with new skills required for the new economy. This help will come to where you are. We will set up job centres in every town to match displaced workers to new jobs. We will work hard to make sure everyone who wants a job can get a job.
Many say the best way to save jobs is to resume our economic activities more quickly.
I understand. But opening up hastily and closing businesses again if infections spike once more, will be more disruptive to businesses and workers. Hence, let us resume safely, progressively and sustainably.
Even after reopening, we should not expect "business as usual". Some businesses will need to change their business models. We will help you to redesign your operations and serve new markets. Many F&B businesses like SaladStop! and Beauty In The Pot have launched delivery-friendly menus to serve new customers. Others still have viable business models. We will help you to rebound when demand picks up. We will support you to hire and train graduates and mid-career workers in advance. Logistics and professional services are examples of sectors where we are starting to do this.
LONGER-TERM GOALS
As we tackle the immediate challenges, we must also prepare for the future. The Future Economy Council, chaired by DPM (Deputy Prime Minister) Heng (Swee Keat), has been driving this for the last few years.
We will invest to develop our intangible strengths - what distinguishes us; our infrastructure - for they are key enablers; and above all, our people and businesses.
Intangible strengths
First, our intangible strengths. Over the years, many investors have chosen to site and expand their businesses here, in Singapore. They did not make this decision for the short term, nor did they choose Singapore because we have abundant natural resources, or because we are cheaper.
They chose us because of our strengths, which are not easy to replicate elsewhere. We are open, and connected with the world, we are trusted, we are united and stable as a society, and we have a skilled workforce.
For many countries, COVID-19 has accelerated the retreat from globalisation, and the erection of more protectionist barriers. We must resist these pressures. A less connected world means a poorer world and fewer opportunities for all. A less connected Singapore means fewer and poorer-quality jobs for us.
Even in a more protectionist, less connected world, we can still make a living and more.
We can build capabilities to play critical roles in global supply chains to produce high-quality products and services that others value. For example, we make four out of the world's top 10 drugs, we are the world's seventh-largest exporter of chemicals.
Our resilience comes from building networks, and diversifying our supply sources and markets. We will never be able to have everything we would possibly need, for the next crisis. Indeed, when lockdowns started across the world three months ago, many of our supply chains were disrupted, if not broken. Credit goes to the ingenuity and tenacity of our people for keeping us going. Our public and private sectors swung into action, reached out to their networks, opened new supply lines to bring back essentials like masks, PPE (personal protective equipment) and test reagents from across the world.
Individuals from PSA, SIA (Singapore Airlines), Sats, ST Logistics, NTUC, Sheng Siong and many more. Without all these unsung heroes, we would not have been able to live our lives as normally as we did in the last few months. Thank you all!
Another intangible strength is trust. Singapore is trusted globally. Throughout this crisis, we have also continued to show the world they can trust Singapore. We did not impose export restrictions or nationalise foreign investments. We kept our production lines open for global supply chains, including critical materials for surgical masks. We worked with companies to increase their production, so that we could meet Singapore's and the world's needs, and we facilitated the continued flow of essential goods and people through our ports and airports.
In uncertain times, our trusted brand counts for even more. Businesses have noticed.
When they make their next investments to diversify their global production bases, we will be in the running. Just as how we did not restrict exports during the 1970s oil crises - that enhanced our credibility later to establish Jurong Island as a global petrochemical hub.
Our investors have stood by us through this difficult period. We know the challenges investors face, with manpower flows and family reunions. We will work closely with you to overcome the challenges together. We will keep faith with you, as you have with us.
We will work to stay connected with the world, even as the world threatens to fragment and regress towards protectionism. Despite our size, we can show the way, if we have good ideas.
When promoting free trade, our initial partnerships with Brunei, Chile, and New Zealand eventually grew to become today's CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership). Together with New Zealand, we issued a joint ministerial statement to resist export restrictions and uphold global supply chains. From a party of two, we now have 11 subscriber countries, and counting.
We are building a network of digital economy partnerships. The partnerships will define the rules for competing and cooperating in the new economy. They will create opportunities for our companies to grow their overseas markets. We have concluded such agreements with Australia, Chile and New Zealand. More are on the way.
Barring unforeseen circumstances, we look forward to signing the RCEP (Regional Comprehensive Economic Partnership) agreement this year. This will cover all 10 Asean member states, plus Australia, China, Japan, New Zealand and South Korea. It will lower the cost of imports for our consumers, and exports for our producers.
These agreements and other FTAs (free trade agreements) open up new opportunities for our businesses, and will make us a more attractive base for investments to serve the region. This will signal to the world our confidence and determination to press on with regional economic integration.
Together with our trade association partners, we will translate these trade agreements into tangible advantages for our companies, through platforms like GlobalConnect@SBF.
Infrastructure
Second, as we develop our intangible strengths, we will invest in the next generation of infrastructure for Singapore. While others have to tighten their belts, our past prudence gives us the means to continue investing in our future. This way we will gift the next generation a higher starting base, just as how our predecessors did for us.
We will press on to build our connectivity infrastructure to reinforce our position as a choice hub for business, finance, trade and data flows. This is why I am here today at our port, which is the heart of our trade connections to the world.
Our long-term plans remain sound. They include projects like Changi T5, Tuas Mega Port, and submarine cable hubs. Likewise, regional developments like Punggol Digital District, Jurong Lake District, Sungei Kadut Eco-District, Greater Southern Waterfront.
We will pace the timelines for these projects according to demand. But do not doubt this: We will get them all done. Together, they will create a vibrant and innovative Singapore for our children - full of opportunities, full of life.
We will also intensify the efforts to attract the best ideas and talent to compete on our side, and complement our strengths. Initiatives like the Global Innovation Alliance connect us with talent hubs across the world. We will make ourselves a more attractive safe harbour for talent, ideas and intellectual property, to grow more businesses and create better jobs. Competition is intense. Talented people, including our own, can go anywhere.
I know many Singaporeans are concerned with foreign competition, but closing ourselves up is not the answer. We cannot escape competing with the world, and proving our mettle. We will give our workers the training and support to excel, and we will ensure that the competition is fair. This is the best way to improve the well-being of our people.
Our businesses and people
Finally, beyond investments in intangibles and infrastructure, this Government will ensure that every member of Team Singapore shares the benefits of growth. Let me highlight two efforts: digitalisation and internationalisation.
COVID-19 has pushed many businesses and consumers to embrace the digital world. The digital trajectory will only accelerate, and not reverse. We must enable every Singaporean, young and old; every business, big and small, to go digital and thrive.
Companies will embrace digital tools to create new business models and transcend our local market constraints. For example, STB (Singapore Tourism Board) is helping our hospitality companies and event organisers to overcome the collapse in travel demand by using digital tools. One event organiser - WiT or Web In Travel - is engaging global audiences though a virtual travel summit later this month, across different countries.
In the 1980s, we uplifted a generation through computerisation and automation. In the 2020s, we will transform another generation through digitalisation and data, and not just the young in high-tech companies. We are building a thousand-strong Digital Ambassador Corps to help small and micro enterprises apply digitalisation, and help senior citizens to learn to use the technology.
But helping businesses access new markets must go beyond the digital online to establish real partnerships in the real world. Many Singapore businesses have established regional and global presence in the past years, often in partnerships. The more established and larger companies help newcomers and smaller businesses. For example, CapitaLand brings along Singapore companies in its overseas development projects, thus helping them to penetrate new markets. The retail and hospitality sector may be going through a challenging time, but CapitaLand will press on and do more to support our local SMEs (small and medium-sized enterprises).
We will step up such efforts to nurture a new generation of regional and global businesses. We will facilitate more industry partnerships, including in the digital space, like how Singapore E-Biz and Alliance 21 are helping local food manufacturers drive international business. Likewise, we will better organise our overseas Singapore business chapters and missions to guide newcomers venturing overseas.
Our business leaders and workers will be key to these efforts. We must have the aptitude and attitude to serve global markets. Our people must have the entrepreneurial spirit to venture abroad to compete, and seize the opportunities of a fast-growing Asia. We cannot be content with doing well just within Singapore. We introduced Scale-up SG to groom promising local companies into global champions. So long as our companies have the ambition, we will find the resources to support them.
We will intensify the overseas exposure of our people, through initiatives like the Global Ready Talent Programme, so that they gain fresh perspectives and networks.
That is what we did for many students, including Carousell co-founders (Quek) Siu Rui, Marcus (Tan), and Lucas (Ngoo). They spent a year in Silicon Valley, as part of the NUS (National University of Singapore) Overseas Colleges programme. This laid the foundation and gave them the confidence to later launch Carousell, which their team has grown beyond Singapore to eight markets across South-east Asia today. We will scale up such opportunities for our people.
Earlier this year, MOE (Ministry of Education) announced our "70-70" target to enable more students from institutes of higher learning (IHL) to gain overseas exposure - 70 per cent of IHL students to have an overseas exposure, 70 per cent to focus on China, India and Asean. We will press on with this once the COVID-19 situation allows.
We will never be done upskilling our people. This is especially so for workers who have left school many years ago and did not benefit from the more recent improvements in our education and training system. Our promise is this: We will create opportunities for all Singaporeans, no matter how old you are, to improve your lives at every stage of your careers. So long as you are able and willing, we will support you. Every Singaporean, regardless of background, can have the chance to take on the new jobs being created.
CONFIDENCE FOR THE FUTURE
We can be confident that our investments in our strengths, our infrastructure, and our people are all coming together. This is why in the first four months of this year, EDB (Economic Development Board) has already captured $13 billion of investment commitments, from companies like ExxonMobil, Micron, and ST Microelectronics, and some companies continue to hire and grow their businesses, like Innosparks, Secretlab, and Shopee.
Even though the outlook for the next few years is uncertain, investors maintain their confidence in Singapore to base their new and exciting projects here.
For example, Hyundai will be setting up their Mobility Global Innovation Centre in Jurong. It will be a next-generation innovation and manufacturing platform incorporating artificial intelligence, Internet of Things, and robotics to produce electric vehicles of the future. When ready in 2022, it will create many new and exciting opportunities for our workers.
Our local companies are confident too. In my regular visits to our local companies, I have seen many big and small companies in different sectors actively transforming their businesses, such as Prima, Hai Sia Seafood, and Markono Print Media. What cheered me most is that they have upskilled their workforce in the process. They didn't leave the workers behind.
As you can see, there are still many opportunities for us, but we must be on our toes. Survival favours not the strong, but the agile.
CONCLUSION
Our Pioneer and Merdeka Generations built our economy from scratch. They laid our strong foundations, brick by brick - Changi Airport, HDB (Housing Board) flats, MRT lines, SIA, DBS, PSA and many more. In fact, they moved us from Third World to First in one generation, and saved enough to set aside reserves for future generations.
They showed us what it means to be Singaporean. That while we are not of common ancestry, race, language or religion, we are defined by our determination to chart our own destiny, guided by the values of openness, inclusiveness, self-determination, meritocracy and incorruptibility for us to defy the odds of history, and not only survive but thrive with the world as our hinterland and our markets.
Fifty-five years on, we are better positioned to keep Singapore going, growing and glowing.
We will build a better Singapore together, where our future generations have the pride, the means, and the gumption to be called Singaporeans.
Related
Prime Minister Lee Hsien Loong: Overcoming the Crisis of a Generation
Minister for National Development and Second Minister for Finance Lawrence Wong: Living with COVID-19
Senior Minister and Coordinating Minister for National Security Teo Chee Hean: Resilience in a Changing External Environment
Minister for Trade and Industry Chan Chun Sing: Making a Living in a COVID-19 World
Prime Minister Lee Hsien Loong: Overcoming the Crisis of a Generation
Minister for National Development and Second Minister for Finance Lawrence Wong: Living with COVID-19
Senior Minister and Coordinating Minister for National Security Teo Chee Hean: Resilience in a Changing External Environment
Minister for Trade and Industry Chan Chun Sing: Making a Living in a COVID-19 World
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