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Singapore Is Making Waves In Its Economy

Singapore saw a growth in its economy by 1.7% in the first half of 2012 and is on track for 1.5% to 2.5% growth for the year. This was the major news that Prime Minister Lee Hsien Loong recently stated in his National Day message to all Singaporeans.

PM Lee said that Singapore’s global standing is high, whether with emerging countries like India or China and advanced ones like the U.S.

PM Lee said that Singapore is doing well despite unsettled issues around the world. “Today is a success story, but the next two decades will be different,” PM Lee added. With the breakthroughs in science and technology, new challenges and opportunities ahead, PM Lee urged all Singaporeans to hope for a better future.

A younger group of ministers had been tasked to work together, with the leadership of Minister HengSweeKeat, and to take a new look at policies and call on the active participation in the process. “We need to review policies more broadly, particularly social and education policies,” PM Lee said.

Singapore will open pathways in the education system to open opportunities for the young generation. “We will equip them with skills and knowledge to thrive in an uncertain world. Every child will be prepared for the test of life.

Meanwhile, along Singapore’s initiatives in enhancing social safety nets, PM Lee said that the government will do more and build on the initiatives in a sustainable way. He encouraged that every Singaporean must take a role in creating an inclusive country.

PM Lee also tackled the issue on immigrants and foreign workers. He said that Singapore is managing the inflow to minimise the strains in infrastructure and society. “Singaporeans must remain confident and open and welcome those who will strengthen our team and help us and our children do better,” PM Lee said.

PM Lee also said that as Singapore is open to immigrants, he pledged to focus on policies that will on build up for the country’s future generation. “Singaporeans want to grow their own families. Many couples do wish to have children, and we will do more to support their family life and parenthood,” he added. He said that with the country’s resources, resolve and imagination, Singapore is a well placed to live in this changing world.

“What Singapore becomes depends on what on Singaporeans make of it. Let us work together so that our children can always find hope of a better future, an inclusive society with a heart, and the best home for ourselves and our families,” PM Lee ended.