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Prime Minister Lee
Hsien Loong (in Parliament on 27 May 2009)-
"At the broadest level, our approach
to economic development and growth remains
valid. We have to stay open to trade and
global competition. We have to be present
all over Asia, and linked up with the world.
We have to upgrade our skills, build new
capabilities and keep our lead. And we have
to encourage our people to be self-reliant
and enterprising, rather than dependent
on state support and welfare.
But while the broad strategy is valid...
we need to review our specific strategies
to develop the different sectors of our
economy. Relook at the potential. Find new
ways to attract investments. Implement policies
to keep growing faster than other developed
countries can and to give Singaporeans good
jobs." |
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Prime Minister Lee Hsien Loong announced the formation
of the Economic Strategies Committee (ESC) in Parliament
on 27 May 2009. The ESC will develop strategies for
Singapore to build capabilities and maximise opportunities
as a global city in a new world environment, so as to
achieve sustained and inclusive growth.
Chaired by Mr Tharman Shanmugaratnam, the ESC comprises
members drawn from Government, the labour movement and
the private sector. The 25-member
Committee aims to bring a wide range of views and
fresh ideas. They include 14 private sector representatives,
drawn from the manufacturing and services sectors; foreign
and local enterprises, large and small; as well as academia.
To develop and recommend strategies to grow Singapore’s
future as a leading global city in the heart of Asia:
- To enable sustained economic growth, faster than
other advanced economies
- Developing depth of talent and superior
capabilities
- Seizing growth opportunities
- Optimising use of scarce resources
- So as to provide opportunities for all
- Creating quality jobs and real wage growth
for the broad majority
- Making continued social investments for
an inclusive, upwardly mobile society
To facilitate this, the ESC has formed 8 sub-committees
to undertake in-depth reviews of the various issues.
The sub-committees will involve further representation
from both the private and public sectors. The ESC and
its sub-committees will consult widely in the course
of their work.
The ESC aims to put forward its key recommendations
in January 2010. It will release its full report by
mid-2010.
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