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Lawrence Wong: We are still building Singapore

Singapore may already look "built-up" but major infrastructure projects that will unfold here over the next 10 years will put the economy on an even stronger footing, said National Development and Second Finance Minister Lawrence Wong yesterday.

Mr Wong told 600 representatives from more than 40 countries at the Singapore Regional Business Forum at the Ritz-Carlton: "Singapore may be a little red dot, very small; some of you may have the impression that we are already very built-up.

"But, in fact, we are not done building Singapore yet. We have not reached our physical limits.

"The infrastructure that we're putting in will include several major pieces."

He cited as an example the building of a new Terminal 5 at Changi Airport.

"Look at our sea ports; they look big, but we are building a new Tuas mega-port in the western part of Singapore which will also double the capacity of what we have today," he added.

These efforts, as well as others to improve rail connectivity to Malaysia, will enhance Singapore's linkages to the region, Mr Wong said.

"There is a lot of work for us to do, but we must have confidence that we can make it happen. If you look at our history in Singapore, we have never failed in restructuring our economy before."

Mr Wong added that Singapore is "fully supportive" of China's Belt and Road Initiative, noting that Singapore companies are "natural partners" for Chinese firms looking to set foot in South-east Asia.

The annual forum, which is organised by the Singapore Business Federation, is focused this year on the opportunities made available by the Chinese project.

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