Introduction
Prime Minister Lee Hsien Loong announced in Parliament
on 27th May 2009 that the Government will set up an
Economic Strategies Committee (ESC). 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.
Composition of the ESC
2 The ESC, chaired by Mr Tharman Shanmugaratnam, comprises
members drawn from Government, the labour movement and
the private sector. The 25-member Committee is aimed
at bringing a wide range of views and fresh ideas. The
members are listed in the Annex
( 65kb).
They include 14 private sector representatives, drawn
from the manufacturing and services sectors; foreign
and local enterprises, large and small; as well as academia.
Scope
3 The ESC will study and make recommendations in the
following key areas:
- Seizing Growth Opportunities: Develop strategies
to capitalise on future areas of growth in both developed
and developing markets, leveraging on Singapore's
strengths;
- Building Corporate Resilience: Diversify and deepen
Singapore's corporate capabilities, including rooting
foreign companies in Singapore and supporting the
growth of globally-competitive local companies;
- Growing Human and Knowledge Capital: Make Singapore
a vibrant global city, with a diverse and deep pool
of talent and strong links between R&D and enterprise;
- Fostering Inclusive Growth: Create good jobs and
equip Singaporeans with the skills and capabilities
to enable broad based income growth; and
- Maximising Value from Scarce Resources: Develop
strategies to conserve and diversify energy; and optimise
the use of land.
4 To facilitate this, the ESC will form 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 also consult widely in the course
of their work. (Details of the sub-committees will be
announced in early July.)
Time Frame
5 The ESC aims to put forward its key recommendations
in January 2010. It will release its full report by
mid-2010.
Ministry of Finance
25 June 2009
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