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PM Lee: Singapore to continue economic restructuring plans in 2018

PM Lee: Singapore to continue economic restructuring plans in 2018

In his 2018 New Year Message titled A Strong Foundation for the Future, Singapore’s prime minister Lee Hsien Loong noted that incomes in Singapore have gone up across the board, especially for low and middle earners. In fact, the nation’s economy grew by 3.5% – more than double its initial forecast.

While the city has benefitted from the global economic upswing, more fundamentally, according to PM Lee, the nation’s productivity has grown. He remarked: “Singaporeans are upgrading and learning new skills, while businesses are innovating and adopting new technology.”

“That is how we will stay competitive and ready for the future,” he continued.

Agenda for 2018

Apart from highlighting last year’s initiatives and efforts in review, PM Lee also shared the agenda for 2018 – one of which is to press on with the economic restructuring plans.

He said: “The Future Economy Council is working closely with unions and businesses to implement Industry Transformation Maps, inculcate lifelong learning in our workforce through SkillsFuture, and help affected workers to adapt and grow in new jobs and careers.”

“We are building more preschools to give children a strong start in life,” he added.

Meanwhile, commuters can look forward to an expanded MRT network. According to PM Lee, the government aims to improve rail reliability and grow its MRT network.

Not only that, PM Lee remarked: “We will also be undertaking major infrastructure projects including Changi Terminal 5, the Tuas Megaport, and the High Speed Rail link to Kuala Lumpur, to enhance our status as a transport hub.”

For the government’s agenda for the rest of the term, PM Lee said that President Halimah Yacob will deliver it in her inaugural President’s Address when the new parliamentary session opens in May.

He commented: “This will bear the imprint of the fourth-generation leadership, who are taking on greater responsibilities, and putting forth their ideas for Singapore.”

 

9 months ago

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