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3 key factors for S'pore's wellbeing: MM Lee
Minister Mentor Lee Kuan Yew said Singapore can expect slower growth this year, but that the 4% to 6% growth forrecast is still 'very good'.
MM Lee was speaking yesterday at a Chinese New Year dinner for residents, held at the Tiong Bahru Community Centre.
In his 10-minute speech, Mr Lee said 2010 was a 'splendid' year, with the economy growing 14.7 per cent due to a boost from the tourism sector in the form of Resorts World Sentosa and Marina Bay Sands, while the manufacturing sector grew some 30 per cent last year compared to 2009.
He also identified three key factors crucial for Singapore's continued well-being. These are racial harmony, a stable society to attract investors and a high-quality people, reported the Straits Times.
'To keep up our strong performance, we needed more (foreign) workers. This caused some disquiet. So we are slowing down the numbers of new permanent residents (PRs). We must accept slower growth as a result,' he said.
He added: 'To keep this going at this stage, we need several things. First, stability and confidence of investors. Stability means everybody is satisfied and acts like a good reasonable citizen, he owns his own home, he has got a good job, his children are going to good schools, polytechnics, universities, ITE.'
'All races are given equal treatment, all use the English language, it is a common platform, nobody gets an advantage and it is also the language which has enabled us to connect to the world and get investments in.'
'If we keep all our races together, united regardless of race, language or religion, and give everybody equal opportunities, we will continue to progress and do well,' he said.
Yesterday, he pledged that help was at hand for every student to develop to his full potential, provided he was prepared to work hard.
'If you study hard and develop your skills and talents during your student years, you are bound to do better later in life,' he told the many young students among the 1,800 guests and residents.
http://news.asiaone.com/News/AsiaOne+News/Singapore/Story/A1Story20110212-263166/2.html
Minister Mentor Lee Kuan Yew said Singapore can expect slower growth this year, but that the 4% to 6% growth forrecast is still 'very good'.
MM Lee was speaking yesterday at a Chinese New Year dinner for residents, held at the Tiong Bahru Community Centre.
In his 10-minute speech, Mr Lee said 2010 was a 'splendid' year, with the economy growing 14.7 per cent due to a boost from the tourism sector in the form of Resorts World Sentosa and Marina Bay Sands, while the manufacturing sector grew some 30 per cent last year compared to 2009.
He also identified three key factors crucial for Singapore's continued well-being. These are racial harmony, a stable society to attract investors and a high-quality people, reported the Straits Times.
'To keep up our strong performance, we needed more (foreign) workers. This caused some disquiet. So we are slowing down the numbers of new permanent residents (PRs). We must accept slower growth as a result,' he said.
He added: 'To keep this going at this stage, we need several things. First, stability and confidence of investors. Stability means everybody is satisfied and acts like a good reasonable citizen, he owns his own home, he has got a good job, his children are going to good schools, polytechnics, universities, ITE.'
'All races are given equal treatment, all use the English language, it is a common platform, nobody gets an advantage and it is also the language which has enabled us to connect to the world and get investments in.'
'If we keep all our races together, united regardless of race, language or religion, and give everybody equal opportunities, we will continue to progress and do well,' he said.
Yesterday, he pledged that help was at hand for every student to develop to his full potential, provided he was prepared to work hard.
'If you study hard and develop your skills and talents during your student years, you are bound to do better later in life,' he told the many young students among the 1,800 guests and residents.
http://news.asiaone.com/News/AsiaOne+News/Singapore/Story/A1Story20110212-263166/2.html
