SINGAPORE: Even as the country tackles the immediate challenges posed by the COVID-19 outbreak, Singapore must look further ahead and invest in areas that develop its “intangible strengths”, its infrastructure, as most of all, its people and businesses, said Minister for Trade and Industry Chan Chun Sing.
“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.” Singapore’s resilience comes from building networks and diversifying its supply sources and markets, he said, adding the country would never be able to have everything it could possibly need for the next crisis.
Mr Chan also pointed to trust as another of Singapore’s intangible strengths, noting the country continued to show the world it was trustworthy even through the COVID-19 crisis. Singapore can lead the way for other countries, Mr Chan said, pointing to how its initial partnerships with Brunei, Chile and New Zealand grew to become the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and how anhas now expanded to include eleven countries.
“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,” he said.SINGAPORE’S INFRASTRUCTURE
“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,” he said. READ: Singaporeans must stay ‘disciplined and vigilant’, prepare for more challenging times amid COVID-19: Lawrence WongThe Government will ensure everyone in Singapore shares the benefits of the country’s growth, said Mr Chan, pointing to efforts in two areas - digitalisation and internationalisation.
“One event organiser – WiT or Web In Travel – is engaging global audiences though a virtual travel summit later this month, across different countries,” he noted.
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