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East Coast Plan unveiled
- Thread starter A Singaporean
- Start date
Deities. Chinks pray to deities when they want good fortune, of course must show sincerity no?
Flattery is the least sincere form of imitation.
Deities. Chinks pray to deities when they want good fortune, of course must show sincerity no?
Good fortune may come, but it may also go.
The two at both ends of the picture appear to be the most grateful for the millions that are coming their way.
HSK is just grateful that he is still an MP, for starters.
The tall one, second from the right thinks all this bowing is BS - that she does not need it.
HSK is just grateful that he is still an MP, for starters.
The tall one, second from the right thinks all this bowing is BS - that she does not need it.
The tall one second from the right is Jessica Tan, she was the MD of Microsoft Singapore for many years and now a director at Raffles Medical.
Now part of the East Coast Plan is for the MPs to go AWOL?
HSK should share his plans on the matter of the Trace tokens for East Coast GRC.
HSK should share his plans on the matter of the Trace tokens for East Coast GRC.
from straitstimes.com:
DPM Heng to unveil Budget 2021 in Parliament on Feb 16
SINGAPORE - Deputy Prime Minister and Minister for Finance Heng Swee Keat will unveil Budget 2021 in Parliament on Feb 16, a Tuesday.
The Ministry of Finance (MOF) announced the date in a statement on Thursday (Dec 31).
There will be live television and radio coverage of the Budget, and a live webcast will also be available on the Singapore Budget website.
In a Facebook post on Thursday, Mr Heng, who is also Coordinating Minister for Economic Policies, said it has become almost a tradition to announce the date of the annual Budget around the turn of the year, and it is no different this year.
"But this year has been far from traditional. Instead of an annual Budget, we had four Budgets and two ministerial statements. To support our workers, companies and households through Covid-19, we introduced several rounds of support measures," he wrote.
Preparation for Budget 2021 is well underway, and the pandemic is contained locally, with the vaccination exercise ongoing, he noted.
"But the overall outlook remains highly uncertain and will be the case for some time to come.
"If the trajectory of economic recovery is on track, then we will have a more 'traditional' Budget year. But if the situation takes a turn for the worse, we are ready to respond and adapt," said Mr Heng.
Various channels have been set up for Singaporeans to share their views and hopes for the upcoming Budget until Jan 8.
Government feedback unit Reach has set up virtual and physical listening points at high-traffic areas, while the People's Association and its grassroots organisations will reach out to Singaporeans via virtual engagement platforms, including an initiative called Ask Kopi Kakis.
Details of the physical listening points can be found on the Reach Budget 2021 microsite, while details about Ask Kopi Kakis can be found at this website.
Themes and questions to be covered include those on the economy, workforce, society and community, a safe and smart nation, and environmental sustainability.
Some of these questions include how Singapore can encourage and accelerate digital adoption and support vulnerable groups more effectively, as well as how businesses can transform and thrive in a post-Covid-19 world.
In November, Mr Heng and representatives from several agencies and investment entities also briefed President Halimah Yacob and the Council of Presidential Advisers on their long-term macroeconomic outlook and the Government's proposed expected long-term real rates of return, as part of preparation work for the Budget.
Madam Halimah said the discussions centred on Covid-19 and its impact.
Apart from the near-term uncertainties brought on by the pandemic, she noted that a key question is also whether Covid-19 has fundamentally changed the investment landscape.
Other key questions Madam Halimah said needed to be studied are the structural shifts that Covid-19 has caused to the macroeconomic environment, and how these factors impact Singapore's long-term investment returns.
Close to $100 billion was dedicated to Covid-19 support measures over four Budgets and two ministerial statements, with up to $52 billion drawn from the reserves.
DPM Heng to unveil Budget 2021 in Parliament on Feb 16
SINGAPORE - Deputy Prime Minister and Minister for Finance Heng Swee Keat will unveil Budget 2021 in Parliament on Feb 16, a Tuesday.
The Ministry of Finance (MOF) announced the date in a statement on Thursday (Dec 31).
There will be live television and radio coverage of the Budget, and a live webcast will also be available on the Singapore Budget website.
In a Facebook post on Thursday, Mr Heng, who is also Coordinating Minister for Economic Policies, said it has become almost a tradition to announce the date of the annual Budget around the turn of the year, and it is no different this year.
"But this year has been far from traditional. Instead of an annual Budget, we had four Budgets and two ministerial statements. To support our workers, companies and households through Covid-19, we introduced several rounds of support measures," he wrote.
Preparation for Budget 2021 is well underway, and the pandemic is contained locally, with the vaccination exercise ongoing, he noted.
"But the overall outlook remains highly uncertain and will be the case for some time to come.
"If the trajectory of economic recovery is on track, then we will have a more 'traditional' Budget year. But if the situation takes a turn for the worse, we are ready to respond and adapt," said Mr Heng.
Various channels have been set up for Singaporeans to share their views and hopes for the upcoming Budget until Jan 8.
Government feedback unit Reach has set up virtual and physical listening points at high-traffic areas, while the People's Association and its grassroots organisations will reach out to Singaporeans via virtual engagement platforms, including an initiative called Ask Kopi Kakis.
Details of the physical listening points can be found on the Reach Budget 2021 microsite, while details about Ask Kopi Kakis can be found at this website.
Themes and questions to be covered include those on the economy, workforce, society and community, a safe and smart nation, and environmental sustainability.
Some of these questions include how Singapore can encourage and accelerate digital adoption and support vulnerable groups more effectively, as well as how businesses can transform and thrive in a post-Covid-19 world.
In November, Mr Heng and representatives from several agencies and investment entities also briefed President Halimah Yacob and the Council of Presidential Advisers on their long-term macroeconomic outlook and the Government's proposed expected long-term real rates of return, as part of preparation work for the Budget.
Madam Halimah said the discussions centred on Covid-19 and its impact.
Apart from the near-term uncertainties brought on by the pandemic, she noted that a key question is also whether Covid-19 has fundamentally changed the investment landscape.
Other key questions Madam Halimah said needed to be studied are the structural shifts that Covid-19 has caused to the macroeconomic environment, and how these factors impact Singapore's long-term investment returns.
Close to $100 billion was dedicated to Covid-19 support measures over four Budgets and two ministerial statements, with up to $52 billion drawn from the reserves.
Deities. Chinks pray to deities when they want good fortune, of course must show sincerity no?
Sometimes good fortune can result in impressive results.
from straitstimes.com:
Nanyang Academy of Fine Arts partners University of the Arts London to offer new degree programmes
(From left) Ministry of Education Second Permanent Secretary Lai Wei Lin, Deputy Prime Minister Heng Swee Keat, Nafa Board Chairman Low Sin Leng and Minister of State for Education Gan Siow Huang talk to Wong Gin Ming about her work You and me.
Nanyang Academy of Fine Arts partners University of the Arts London to offer new degree programmes
(From left) Ministry of Education Second Permanent Secretary Lai Wei Lin, Deputy Prime Minister Heng Swee Keat, Nafa Board Chairman Low Sin Leng and Minister of State for Education Gan Siow Huang talk to Wong Gin Ming about her work You and me.
Deities. Chinks pray to deities when they want good fortune, of course must show sincerity no?
Sincerity should be preceded by humility.
from straitstimes.com:
ST Global Forum: Countries must work together in public health, climate change in post-Covid-19 world, says DPM Heng
SINGAPORE - Cooperation between nations will be especially important as the world works on addressing Covid-19 and builds back from the pandemic's disruptions, said Deputy Prime Minister Heng Swee Keat.
Mr Heng, who is also Finance Minister, called on countries on Monday (Jan 11) to work together to make the best of the coronavirus situation for a more resilient and sustainable future.
He noted that while the outlook for this year remains highly uncertain, much will depend on countries' collective will to implement effective national interventions and collaborate across borders.
There is hope, he noted, with vaccination programmes beginning, and scientific cooperation having taken great strides in a short period of time.
But the emergence of more infectious variants of the virus is a reminder that the fight against Covid-19 is far from over, he said.
"Each country will also need to adapt how it works externally with others - in an open and more inclusive way," said Mr Heng during his speech at The Straits Times Global Outlook Forum.
"At home, each country will need to undertake structural reforms, to build new competitive advantages to benefit from globalisation, and to ensure that social policies are sustainable."
Mr Heng sketched out three broad areas where he said international partnership will be crucial: public health, climate change and digital governance.
For public health, the minister held up the multilateral Covax facility initiative which is meant to ensure equitable vaccine access worldwide.
Looking ahead, he pointed out there is a need for the world to strengthen its collective response to future pandemics, and warned that Disease X - a new unknown disease that is highly infectious, deadly and mutates easily - is inevitable.
He said: "We must lock in and strengthen the unprecedented level of information exchange - in science, research, and best practices. Learning from the asymptomatic nature of Covid-19, we can more quickly develop and scale diagnostic testing."
But public health cooperation goes beyond pandemic responses, and Mr Heng noted that global cooperation on healthcare innovation in areas like dealing with an ageing population will enhance the resilience and effectiveness of healthcare systems worldwide.
In the area of climate change, an international effort is needed, given how it is a problem which affects all countries, especially small island states like Singapore, said Mr Heng.
He said he was glad that the United States will be recommitting to the Paris Agreement, an international framework for tackling climate change.
The US formally left the agreement last year under President Donald Trump, who deemed its regulations harmful to the country's economy. US President-elect Joe Biden has said he would rejoin the agreement on assuming the presidency next week.
During a question and answer segment moderated by Straits Times editor Warren Fernandez, Mr Heng said that this, together with the work of scientists and researchers, made him hopeful that the global community will address climate change more seriously post-Covid-19.
Mr Heng pointed out that in working together through science and technology to address climate change, countries can not only achieve sustainability goals, but economic growth as well.
"There is great potential to improve resource efficiency for energy, water, and food production, develop nature-based solutions for climate change, and employ biophilic design to build greener, more sustainable and liveable cities," he said.
With regard to digital governance, Mr Heng acknowledged that the digital revolution was well under way before Covid-19, but this sped up during the pandemic as life shifted online, with people working and learning from home.
But global norms and rules in cyberspace have not been fully worked out, he warned. As technology becomes pervasive in daily life, cyber security will be even more critical and international collaboration is crucial to maintaining a safer and secure cyberspace.
The world will also need stronger tech governance so that technology progresses in a fair and ethical manner, he added.
Mr Heng gave the example of how Singapore is a founding member of the Global Partnership on Artificial Intelligence (AI), an international initiative started last year to support the responsible use of AI and how it can be used to empower workers.
There will also be a need for common standards to enable trusted data flows across borders as digital trade grows, said Mr Heng. Singapore has pursued digital economy agreements with partners to develop new approaches for the cross-border digital economy, such as e-payment across jurisdictions.
Responding to a question from Mr Fernandez on concerns about cybersecurity and national spying, Mr Heng said that such incidents are inevitable given how technology has become more pervasive.
There is a need for greater global cooperation to develop frameworks to address such cyber risks, as well as greater individual responsibility to be careful online, he added.
Mr Heng noted that the world is now at a crossroads, and cautioned that if countries do not come together to tackle common challenges, it will become more fractious and unequal.
But he added that the pandemic has also given countries common cause to work together, and each one can take small concrete steps to lay the foundation for a better post-pandemic world.
"If we succeed, each country can grow new strengths and complement one another, achieving more together than we could on our own, and giving us a stake in one another's success," he said.
ST Global Forum: Countries must work together in public health, climate change in post-Covid-19 world, says DPM Heng
SINGAPORE - Cooperation between nations will be especially important as the world works on addressing Covid-19 and builds back from the pandemic's disruptions, said Deputy Prime Minister Heng Swee Keat.
Mr Heng, who is also Finance Minister, called on countries on Monday (Jan 11) to work together to make the best of the coronavirus situation for a more resilient and sustainable future.
He noted that while the outlook for this year remains highly uncertain, much will depend on countries' collective will to implement effective national interventions and collaborate across borders.
There is hope, he noted, with vaccination programmes beginning, and scientific cooperation having taken great strides in a short period of time.
But the emergence of more infectious variants of the virus is a reminder that the fight against Covid-19 is far from over, he said.
"Each country will also need to adapt how it works externally with others - in an open and more inclusive way," said Mr Heng during his speech at The Straits Times Global Outlook Forum.
"At home, each country will need to undertake structural reforms, to build new competitive advantages to benefit from globalisation, and to ensure that social policies are sustainable."
Mr Heng sketched out three broad areas where he said international partnership will be crucial: public health, climate change and digital governance.
For public health, the minister held up the multilateral Covax facility initiative which is meant to ensure equitable vaccine access worldwide.
Looking ahead, he pointed out there is a need for the world to strengthen its collective response to future pandemics, and warned that Disease X - a new unknown disease that is highly infectious, deadly and mutates easily - is inevitable.
He said: "We must lock in and strengthen the unprecedented level of information exchange - in science, research, and best practices. Learning from the asymptomatic nature of Covid-19, we can more quickly develop and scale diagnostic testing."
But public health cooperation goes beyond pandemic responses, and Mr Heng noted that global cooperation on healthcare innovation in areas like dealing with an ageing population will enhance the resilience and effectiveness of healthcare systems worldwide.
In the area of climate change, an international effort is needed, given how it is a problem which affects all countries, especially small island states like Singapore, said Mr Heng.
He said he was glad that the United States will be recommitting to the Paris Agreement, an international framework for tackling climate change.
The US formally left the agreement last year under President Donald Trump, who deemed its regulations harmful to the country's economy. US President-elect Joe Biden has said he would rejoin the agreement on assuming the presidency next week.
During a question and answer segment moderated by Straits Times editor Warren Fernandez, Mr Heng said that this, together with the work of scientists and researchers, made him hopeful that the global community will address climate change more seriously post-Covid-19.
Mr Heng pointed out that in working together through science and technology to address climate change, countries can not only achieve sustainability goals, but economic growth as well.
"There is great potential to improve resource efficiency for energy, water, and food production, develop nature-based solutions for climate change, and employ biophilic design to build greener, more sustainable and liveable cities," he said.
With regard to digital governance, Mr Heng acknowledged that the digital revolution was well under way before Covid-19, but this sped up during the pandemic as life shifted online, with people working and learning from home.
But global norms and rules in cyberspace have not been fully worked out, he warned. As technology becomes pervasive in daily life, cyber security will be even more critical and international collaboration is crucial to maintaining a safer and secure cyberspace.
The world will also need stronger tech governance so that technology progresses in a fair and ethical manner, he added.
Mr Heng gave the example of how Singapore is a founding member of the Global Partnership on Artificial Intelligence (AI), an international initiative started last year to support the responsible use of AI and how it can be used to empower workers.
There will also be a need for common standards to enable trusted data flows across borders as digital trade grows, said Mr Heng. Singapore has pursued digital economy agreements with partners to develop new approaches for the cross-border digital economy, such as e-payment across jurisdictions.
Responding to a question from Mr Fernandez on concerns about cybersecurity and national spying, Mr Heng said that such incidents are inevitable given how technology has become more pervasive.
There is a need for greater global cooperation to develop frameworks to address such cyber risks, as well as greater individual responsibility to be careful online, he added.
Mr Heng noted that the world is now at a crossroads, and cautioned that if countries do not come together to tackle common challenges, it will become more fractious and unequal.
But he added that the pandemic has also given countries common cause to work together, and each one can take small concrete steps to lay the foundation for a better post-pandemic world.
"If we succeed, each country can grow new strengths and complement one another, achieving more together than we could on our own, and giving us a stake in one another's success," he said.
from straitstimes.com:
ST Global Forum: Singapore's ability to stay relevant to the world depends on being open and united, says DPM Heng
SINGAPORE - Singapore's economic success is underpinned by openness, Deputy Prime Minister Heng Swee Keat said on Monday (Jan 11), adding that as a small country, it cannot close up, as doing so means it will soon lose its value and relevance to the world.
This is why it is actively looking for ways to reopen safely while remaining vigilant of Covid-19, he added in his speech at the annual The Straits Times Global Outlook Forum.
While being small and open means Singapore feels the tugs of external events more keenly, being small has its advantages, said Mr Heng.
It can be more adaptable, flexible, and innovative in tapping opportunities brought about by global cooperation.
For instance, Singapore is exploring how it can serve the region as a marketplace for carbon credits, he added. It will also continue to invest in innovation, including in emergent areas like quantum computing.
But its ability to make the best of these opportunities and its relevance to the world ultimately depends on its strengths at home, he stressed.
"As we strive to remain open and grow, we must ensure that the benefits of growth are spread more equitably," he said.
Singapore will help its businesses to transform, while attracting more companies to set up operations here. It will also invest significantly to bring out the best in its people, while complementing the workforce with expertise from abroad, he added.
"Above all, we must continue to strengthen national solidarity, and push back against the division and polarisation seen elsewhere," he said.
Mr Heng, who is also Coordinating Minister for Economic Policies and Finance Minister, was reflecting on the impact of the Covid-19 pandemic and United States-China strategic rivalry globally and on Singapore. He was the keynote speaker at the conference organised by The Straits Times in partnership with presenting sponsor OCBC Premier Banking.
Earlier in his speech, he had outlined three areas of global cooperation - in public health, climate change, and digital governance - that were especially important as countries seek to rebuild after the pandemic, and called for Asean to stand together to advance its collective interests amid the backdrop of US-China competition.
Mr Heng said that while being small and open means feeling the effects of external events more keenly, especially as the multilateral system comes under pressure, Singapore can take advantage of opportunities such as in the fields of climate change and technology.
Climate change is an existential threat for Singapore, but can also create new opportunities, he said.
As a global financial hub, it can contribute to a "green recovery" in Asia, through looking at how it can serve the region as a marketplace for high-quality carbon credits and providing technology-enabled verification systems for carbon solutions.
The tech sector is also a bright spot for businesses and workers in Singapore, he said, adding that it will continue to grow the tech and start-up ecosystem, nurturing unicorns like Sea and Grab.
"We will continue to invest in innovation, deepen our capabilities in technologies like AI, which already has widespread applications, and develop emergent areas like quantum computing," he said.
Singapore will also continue to grow partnerships with tech giants from around the world.
But the ability to make the best of these opportunities and ensure Singapore's relevance to the world ultimately depends on its strengths at home, Mr Heng said.
"The stronger we are at home, the more we can contribute to the global commons and create opportunities for Singaporeans."
ST Global Forum: Singapore's ability to stay relevant to the world depends on being open and united, says DPM Heng
SINGAPORE - Singapore's economic success is underpinned by openness, Deputy Prime Minister Heng Swee Keat said on Monday (Jan 11), adding that as a small country, it cannot close up, as doing so means it will soon lose its value and relevance to the world.
This is why it is actively looking for ways to reopen safely while remaining vigilant of Covid-19, he added in his speech at the annual The Straits Times Global Outlook Forum.
While being small and open means Singapore feels the tugs of external events more keenly, being small has its advantages, said Mr Heng.
It can be more adaptable, flexible, and innovative in tapping opportunities brought about by global cooperation.
For instance, Singapore is exploring how it can serve the region as a marketplace for carbon credits, he added. It will also continue to invest in innovation, including in emergent areas like quantum computing.
But its ability to make the best of these opportunities and its relevance to the world ultimately depends on its strengths at home, he stressed.
"As we strive to remain open and grow, we must ensure that the benefits of growth are spread more equitably," he said.
Singapore will help its businesses to transform, while attracting more companies to set up operations here. It will also invest significantly to bring out the best in its people, while complementing the workforce with expertise from abroad, he added.
"Above all, we must continue to strengthen national solidarity, and push back against the division and polarisation seen elsewhere," he said.
Mr Heng, who is also Coordinating Minister for Economic Policies and Finance Minister, was reflecting on the impact of the Covid-19 pandemic and United States-China strategic rivalry globally and on Singapore. He was the keynote speaker at the conference organised by The Straits Times in partnership with presenting sponsor OCBC Premier Banking.
Earlier in his speech, he had outlined three areas of global cooperation - in public health, climate change, and digital governance - that were especially important as countries seek to rebuild after the pandemic, and called for Asean to stand together to advance its collective interests amid the backdrop of US-China competition.
Mr Heng said that while being small and open means feeling the effects of external events more keenly, especially as the multilateral system comes under pressure, Singapore can take advantage of opportunities such as in the fields of climate change and technology.
Climate change is an existential threat for Singapore, but can also create new opportunities, he said.
As a global financial hub, it can contribute to a "green recovery" in Asia, through looking at how it can serve the region as a marketplace for high-quality carbon credits and providing technology-enabled verification systems for carbon solutions.
The tech sector is also a bright spot for businesses and workers in Singapore, he said, adding that it will continue to grow the tech and start-up ecosystem, nurturing unicorns like Sea and Grab.
"We will continue to invest in innovation, deepen our capabilities in technologies like AI, which already has widespread applications, and develop emergent areas like quantum computing," he said.
Singapore will also continue to grow partnerships with tech giants from around the world.
But the ability to make the best of these opportunities and ensure Singapore's relevance to the world ultimately depends on its strengths at home, Mr Heng said.
"The stronger we are at home, the more we can contribute to the global commons and create opportunities for Singaporeans."
from straitstimes.com:
ST Global Forum: Singaporeans can get to know their Asean neighbours better, says DPM Heng Swee Keat
SINGAPORE - Asean's capacity for growth remains relatively intact despite recent global challenges like the Covid-19 pandemic, and more can be done to get Singaporeans to have a better understanding of neighbouring countries, said Deputy Prime Minister Heng Swee Keat on Monday (Jan 11).
This is especially significant given how Asean has managed to position itself well globally, said Mr Heng, who noted that there has been greater recognition of Asean in the past few years.
"We need to do more programmes with our friends and neighbours in the region, rather than to go to faraway places. Start to know our neighbors better first," said Mr Heng.
This push to get Singaporeans to be more familiar with their neighbours was something Mr Heng said he had been suggesting to schools since he was Education Minister.
He was responding to questions from viewers of The Straits Times Global Outlook Forum to emphasise how Asean's prospects remain bright.
The dialogue was moderated by Mr Warren Fernandez, editor-in-chief of Singapore Press Holdings' English/Malay/Tamil Media Group and editor of The Straits Times.
The 10 nations that make up Asean are home to more than 650 million people and have a combined gross domestic product of about US$3 trillion (S$4 trillion).
Observers have said that if these nations were one country, they would be the fifth-largest economy in the world. And given how quickly it is growing, the region is projected to become the world's fourth-largest economy by 2030.
In his reply, Mr Heng pointed out that progress is being made on regional economic agreements and integration, and added that besides economic growth, the region can do more to cooperate in areas like sustainability, managing public health and cybersecurity.
A lot of progress has also been made in socio-cultural cooperation too, he noted. He held up Asean as a rich and diverse region, with each of its 10 countries having their own history, culture and heritage.
Mr Heng said it was a big step that Asean nations can all collaborate and come to common agreements now given that not too long ago, some of the nations were at war with one another.
He also hopes Singapore students will take an interest in not just the economic potential of Asean, but also its cultural and historical aspect.
"There's a lot of this work that is going on now. I do hope that our young people take an active interest in understanding our region," he added.
ST Global Forum: Singaporeans can get to know their Asean neighbours better, says DPM Heng Swee Keat
SINGAPORE - Asean's capacity for growth remains relatively intact despite recent global challenges like the Covid-19 pandemic, and more can be done to get Singaporeans to have a better understanding of neighbouring countries, said Deputy Prime Minister Heng Swee Keat on Monday (Jan 11).
This is especially significant given how Asean has managed to position itself well globally, said Mr Heng, who noted that there has been greater recognition of Asean in the past few years.
"We need to do more programmes with our friends and neighbours in the region, rather than to go to faraway places. Start to know our neighbors better first," said Mr Heng.
This push to get Singaporeans to be more familiar with their neighbours was something Mr Heng said he had been suggesting to schools since he was Education Minister.
He was responding to questions from viewers of The Straits Times Global Outlook Forum to emphasise how Asean's prospects remain bright.
The dialogue was moderated by Mr Warren Fernandez, editor-in-chief of Singapore Press Holdings' English/Malay/Tamil Media Group and editor of The Straits Times.
The 10 nations that make up Asean are home to more than 650 million people and have a combined gross domestic product of about US$3 trillion (S$4 trillion).
Observers have said that if these nations were one country, they would be the fifth-largest economy in the world. And given how quickly it is growing, the region is projected to become the world's fourth-largest economy by 2030.
In his reply, Mr Heng pointed out that progress is being made on regional economic agreements and integration, and added that besides economic growth, the region can do more to cooperate in areas like sustainability, managing public health and cybersecurity.
A lot of progress has also been made in socio-cultural cooperation too, he noted. He held up Asean as a rich and diverse region, with each of its 10 countries having their own history, culture and heritage.
Mr Heng said it was a big step that Asean nations can all collaborate and come to common agreements now given that not too long ago, some of the nations were at war with one another.
He also hopes Singapore students will take an interest in not just the economic potential of Asean, but also its cultural and historical aspect.
"There's a lot of this work that is going on now. I do hope that our young people take an active interest in understanding our region," he added.
from straitstimes.com:
ST Global Forum: S'pore economy likely to see slow recovery in second half of 2021, says DPM Heng
SINGAPORE - The Singapore economy is likely to stage a slow recovery in the second half of this year, said Deputy Prime Minister Heng Swee Keat on Monday (Jan 11) as he gave his outlook for 2021.
This is in line with the global consensus that the world's economy may recover in the second half of the year as a result of vaccination programmes that have kicked off, giving hope that the pandemic could be better controlled, he added.
"Even then, the world has lost a significant part of its gross domestic product, and even if that scenario pans out, it will still likely be below the 2019 level. So that is the scenario that we have to plan on," said Mr Heng at The Straits Times Global Outlook Forum.
He was responding to a question from the moderator, Straits Times editor Warren Fernandez, on his forecast for the economy this year amid the uncertainty that has roiled markets in the past year.
Mr Heng said the way to deal with uncertainty is to assess what is the most likely, or central, scenario for the economy, and then to look at the potential upsides which may give surprises and the possible downsides to prepare for.
"In the case of the Singapore economy... our central scenario is that we may see that the first half will still not be very good. The second half, we may begin to see some uptick in activities," he said at the annual conference organised by The Straits Times.
Mr Heng, who is also Coordinating Minister for Economic Policies and Finance Minister, said this was due to the vaccination drives going on around the world and the global consensus that the world economy may recover in the second half of the year.
A potential positive factor could be vaccination efforts turning out to be very effective across the world, allowing it to overcome the Covid-19 pandemic, he said.
Possible downsides include tensions between the United States and China escalating - which will have a "dampening effect" on the global economy - and if vaccines do not work as well as expected.
"And of course, there could be some other events that could intervene in the meanwhile, so we have to keep our minds open, and watch for new risks that could emerge," he added.
Mr Fernandez, who is also editor-in-chief of Singapore Press Holdings' English/Malay/ Tamil Media Group, asked whether Mr Heng was more optimistic for the coming year.
On the economy, Mr Heng said: "My central scenario is that this year will be better than last year."
He pointed out how new variants of the virus have emerged, and how new outbreaks have led to a resurgence of infections in places that had done well to control the virus initially.
"It is not something that we can wish away, so I would say we need to take a very realistic approach to this."
Responding to a question on the five Budgets that had to be announced over the past year as the pandemic took its toll on businesses and people, Mr Heng noted that he addressed Parliament nine times over the past year.
He added: "My wish for this year is one Budget."
ST Global Forum: S'pore economy likely to see slow recovery in second half of 2021, says DPM Heng
SINGAPORE - The Singapore economy is likely to stage a slow recovery in the second half of this year, said Deputy Prime Minister Heng Swee Keat on Monday (Jan 11) as he gave his outlook for 2021.
This is in line with the global consensus that the world's economy may recover in the second half of the year as a result of vaccination programmes that have kicked off, giving hope that the pandemic could be better controlled, he added.
"Even then, the world has lost a significant part of its gross domestic product, and even if that scenario pans out, it will still likely be below the 2019 level. So that is the scenario that we have to plan on," said Mr Heng at The Straits Times Global Outlook Forum.
He was responding to a question from the moderator, Straits Times editor Warren Fernandez, on his forecast for the economy this year amid the uncertainty that has roiled markets in the past year.
Mr Heng said the way to deal with uncertainty is to assess what is the most likely, or central, scenario for the economy, and then to look at the potential upsides which may give surprises and the possible downsides to prepare for.
"In the case of the Singapore economy... our central scenario is that we may see that the first half will still not be very good. The second half, we may begin to see some uptick in activities," he said at the annual conference organised by The Straits Times.
Mr Heng, who is also Coordinating Minister for Economic Policies and Finance Minister, said this was due to the vaccination drives going on around the world and the global consensus that the world economy may recover in the second half of the year.
A potential positive factor could be vaccination efforts turning out to be very effective across the world, allowing it to overcome the Covid-19 pandemic, he said.
Possible downsides include tensions between the United States and China escalating - which will have a "dampening effect" on the global economy - and if vaccines do not work as well as expected.
"And of course, there could be some other events that could intervene in the meanwhile, so we have to keep our minds open, and watch for new risks that could emerge," he added.
Mr Fernandez, who is also editor-in-chief of Singapore Press Holdings' English/Malay/ Tamil Media Group, asked whether Mr Heng was more optimistic for the coming year.
On the economy, Mr Heng said: "My central scenario is that this year will be better than last year."
He pointed out how new variants of the virus have emerged, and how new outbreaks have led to a resurgence of infections in places that had done well to control the virus initially.
"It is not something that we can wish away, so I would say we need to take a very realistic approach to this."
Responding to a question on the five Budgets that had to be announced over the past year as the pandemic took its toll on businesses and people, Mr Heng noted that he addressed Parliament nine times over the past year.
He added: "My wish for this year is one Budget."
from straitstimes.com:
ST Global Forum: Relook traditional mindsets on life as Singapore moves forward, says Heng Swee Keat
SINGAPORE - For many people, life can be divided into three simple stages: study, work, retire.
But this traditional mindset is due for a relook, said Deputy Prime Minister Heng Swee Keat on Monday (Jan 11).
Working adults must continue to learn, while both seniors and young people now have many new challenges to engage in, he said.
"How can we enable our young people to learn even better; enable our working adults to learn?" Mr Heng said at The Straits Times Global Outlook Forum. "And how do you continue to stay mentally and physically healthy and socially active as you age?"
He had been asked for his take on the challenges Singapore will face this year, and if the country will be in for another hard slog.
"I think this year will be better than last year, mainly because with the vaccinations, there is some hope of bringing the pandemic under some control," Mr Heng responded.
But he also noted that recurrent waves of the virus have resulted in the situation worsening overseas, even in countries and cities that had originally done well. "It is not something that we can wish away, so I would say that we need to take a very realistic approach to this."
When asked what positives came out of Singapore's experience with tackling the Covid-19 pandemic, Mr Heng, who is also Finance Minister, pointed to the Emerging Stronger Taskforce set up to study economic changes accelerated by the coronavirus.
The task force adopted a "very different approach" by establishing Alliances for Action, which brought together industry leaders, union representatives and government agencies on topics such as sustainability and digitalisation.
In the longer term, Singapore will need to grapple with two key challenges, Mr Heng said.
Its rapidly-ageing population means that it will have to look at how it can continue to take good care of seniors. The country must also focus on how to help younger Singaporeans access opportunities.
This means that part of Singapore's research agenda will go beyond human health to focus on human potential, Mr Heng said.
"So am I more optimistic?" he added. "I'll say that well, we just need to have a sort of fairly robust attitude and hope for the best, but be prepared for the worst."
ST Global Forum: Relook traditional mindsets on life as Singapore moves forward, says Heng Swee Keat
SINGAPORE - For many people, life can be divided into three simple stages: study, work, retire.
But this traditional mindset is due for a relook, said Deputy Prime Minister Heng Swee Keat on Monday (Jan 11).
Working adults must continue to learn, while both seniors and young people now have many new challenges to engage in, he said.
"How can we enable our young people to learn even better; enable our working adults to learn?" Mr Heng said at The Straits Times Global Outlook Forum. "And how do you continue to stay mentally and physically healthy and socially active as you age?"
He had been asked for his take on the challenges Singapore will face this year, and if the country will be in for another hard slog.
"I think this year will be better than last year, mainly because with the vaccinations, there is some hope of bringing the pandemic under some control," Mr Heng responded.
But he also noted that recurrent waves of the virus have resulted in the situation worsening overseas, even in countries and cities that had originally done well. "It is not something that we can wish away, so I would say that we need to take a very realistic approach to this."
When asked what positives came out of Singapore's experience with tackling the Covid-19 pandemic, Mr Heng, who is also Finance Minister, pointed to the Emerging Stronger Taskforce set up to study economic changes accelerated by the coronavirus.
The task force adopted a "very different approach" by establishing Alliances for Action, which brought together industry leaders, union representatives and government agencies on topics such as sustainability and digitalisation.
In the longer term, Singapore will need to grapple with two key challenges, Mr Heng said.
Its rapidly-ageing population means that it will have to look at how it can continue to take good care of seniors. The country must also focus on how to help younger Singaporeans access opportunities.
This means that part of Singapore's research agenda will go beyond human health to focus on human potential, Mr Heng said.
"So am I more optimistic?" he added. "I'll say that well, we just need to have a sort of fairly robust attitude and hope for the best, but be prepared for the worst."
