[ad_1]
SINGAPORE – Constant adaptation, restructuring and transformation have been central to Singapore’s economic history for decades, Deputy Prime Minister Heng Swee Keat said on Monday (August 31).
But even as the Republic adapts to the change brought on by Covid-19, it must stay true to its values, he told Parliament during the debate on the president’s speech.
In a speech outlining how Singapore must adapt as an economy, as a society and as a people, as it works to better ensure the country’s survival and success and improve the lives of its citizens in these unprecedented times, Heng highlighted four areas where the Republic needs to strengthen its economic capacity to emerge stronger.
First, Singapore needs to take an even more integrated and coordinated approach to economic transformation, he said.
He noted that the Republic’s economy has multiple stakeholders, and tripartism – government, business, and the labor movement working together – has been a tremendous source of strength in the system.
But there is room for further collaboration, he said, citing the Netherlands and its “triple helix” innovation model where government, business and academia work together to generate knowledge, test prototypes and scale innovation.
“Singapore can leverage our tripartite partnership to be a test bed that creates deeper links with a broader set of stakeholders, including our education and research institutions, our community groups and stakeholders around the world,” he said Heng. This can create good jobs for Singaporeans and new opportunities for entrepreneurs, he added.
Second, Singapore must redouble its efforts to develop everyone to their full potential, so that its people can seize new opportunities and prosper in their chosen goals, said Heng, who is also the Coordinating Minister for Economic Policy and Minister of Finance.
“We need a holistic approach to this that spans the entire lives of people, from birth to preschool and schools, to lifelong learning as part of SkillsFuture,” he said, noting that workers are embracing skills enhancement. , with approximately half a million people participating in SkillsFuture programs in 2019.
The country has to explore new possibilities to fully develop its people, Heng stressed, noting that the National Research Foundation is supporting research programs that address the broader goal of enhancing human potential through measures during pregnancy and childhood. , including nutrition, parenting and learning.
Third, Singapore should strengthen its path-finding capacity to find new bright spots amid economic disruption, Heng said, noting the Emerging Stronger Task Force that was established four months ago to identify and seize new opportunities in the trends. emerging.
“The ideas being explored are promising. They range from environmental sustainability to smart commerce, digitizing the supply chain and using robotics. They can create new growth markets for our companies and good jobs for our customers. Singaporeans, “he added.
For example, many street vendors and small businesses across the island are going digital, Heng said, citing a fruit vendor known as “Ah Boy” who operates a market stall and food center in Block 58 New. Upper Changi Road. In addition to the physical stall, the street vendor also sells his fruits online and takes orders through the WhatsApp text messaging service, he added.
In addition, Singapore will invest in incubating and accelerating startups and supporting established companies to expand their research and development to build competitive strengths, Heng said.
“Such a vibrant innovation ecosystem will strengthen our path-finding capabilities.”
Fourth, the Republic must find new ways to be a vital node with deep and rich interconnections with the rest of the world, Heng said, noting that openness is its strength and opportunity given its position as a small city-state.
“We cannot take it for granted that, in a post-Covid-19 world, we can remain the same kind of hub that we used to be. Therefore, we must forge new forms of connections, such as digital economy deals, while deepening our links with regional markets to harness the potential of Asia, “he added.
Heng also emphasized the need for Singapore to remain open to investment and talent from around the world, recognizing that many Singaporeans are eager for their livelihoods.
“Our starting point is that our economic strategies should serve the interests of Singaporeans,” he said, adding that the foreign investments attracted should create meaningful jobs for Singaporeans and strengthen the country’s corporate ecosystem, and Singaporeans should receive a fair consideration in the workplace.
Labor policies are adapting to changing circumstances to ensure that Singaporeans’ interests are upheld, Heng said, but Singapore must resist the temptation to turn inward.
“We cannot close ourselves off from the world or make foreigners unwelcome in our society.”
The best way to serve the interests of Singaporeans, he said, is to ensure that Singapore remains useful and relevant to the world by keeping its economy vibrant and competitive, so that Singaporeans and others choose to be here to invest and do business, therefore creating good jobs and opportunities for all.
Singapore must also continue to fully develop its people to have the confidence to take advantage of new post-Covid-19 opportunities, including working with partners from around the world.
Responding to Labor MP Patrick Tay’s suggestion to update and revise the industry transformation maps to address future challenges, Heng said Singapore should improve the links between what it does to develop its people and job creation, in form of skill maps, job redesign, and empower workers to take advantage of new job opportunities.
“In particular, we must also make a deliberate effort to develop Singaporeans for leadership roles in companies, so that they can move Singapore forward. Singapore, as a regional operating headquarters, has what it takes. Singaporeans, in a Multiracial context and, multicultural environment, can connect with the people around us and build deep ties with our friends in the region, “he added.
As Singapore adapts to a changing world, it must stay true to its values, such as its sense of unity as a people and its composition as a multicultural society, Heng said.
“We must remain true to our value to the world as an oasis of harmony in this rebellious world.”
[ad_2]
