[h=1]S'pore not cheapest, but must remain competitive
By Jacqueline Woo
My Paper
Thursday, May 02, 2013
Singapore must continue to uphold its reputation as a competitive and dynamic city worth investors paying a premium for, even if it is not necessarily the cheapest.
This was Prime Minister Lee Hsien Loong's call yesterday at the May Day Rally, in which he said attracting quality investments and creating better jobs are key to growing the economy.
But as the country tightens up on foreign hires, Mr Lee said it has to be "very careful" to remain a competitive place for doing business. "If we make it difficult for companies to get the skills and talent they need, they will go elsewhere," he said.
Speaking at Downtown East, Mr Lee added that attracting quality investments comes alongside restructuring the domestic economy and investing in the future. This is because government transfers or protection "cannot be the fundamental basis on which we improve lives", he said.
Still, Mr Lee gave assurances that the Government is determined to tackle problems and improve workers' lives.
This includes dealing with population issues, such as immigration and foreign workers, and strengthening safety nets, especially for housing, health care and education.
He said the Government will also look into the concerns of professionals, managers and executives, as well as low-wage workers and older workers who want to work beyond the age of 65.
While Mr Lee acknowledged that Singapore's situation was "not perfect", he said "we have many strengths that others lack, whether it's a well-educated workforce, a high international reputation or adequate reserves".
[email protected][/h]
By Jacqueline Woo
My Paper
Thursday, May 02, 2013
Singapore must continue to uphold its reputation as a competitive and dynamic city worth investors paying a premium for, even if it is not necessarily the cheapest.
This was Prime Minister Lee Hsien Loong's call yesterday at the May Day Rally, in which he said attracting quality investments and creating better jobs are key to growing the economy.
But as the country tightens up on foreign hires, Mr Lee said it has to be "very careful" to remain a competitive place for doing business. "If we make it difficult for companies to get the skills and talent they need, they will go elsewhere," he said.
Speaking at Downtown East, Mr Lee added that attracting quality investments comes alongside restructuring the domestic economy and investing in the future. This is because government transfers or protection "cannot be the fundamental basis on which we improve lives", he said.
Still, Mr Lee gave assurances that the Government is determined to tackle problems and improve workers' lives.
This includes dealing with population issues, such as immigration and foreign workers, and strengthening safety nets, especially for housing, health care and education.
He said the Government will also look into the concerns of professionals, managers and executives, as well as low-wage workers and older workers who want to work beyond the age of 65.
While Mr Lee acknowledged that Singapore's situation was "not perfect", he said "we have many strengths that others lack, whether it's a well-educated workforce, a high international reputation or adequate reserves".
[email protected][/h]
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