Singapore

Economic performance, jobs are Government's priority

Singapore's economy remains strong and growth is expected to reach around 2.5 per cent this year, higher than last year's 2 per cent.

Productivity, the key to better jobs and pay, is also improving - rising 1 per cent last year after years of negligible growth and should do even better this year, Prime Minister Lee Hsien Loong said at last night's National Day Rally.

As with the early nation-building years, the economy, terrorism and international relations are among the many urgent issues the country has to deal with, he added.

Said Mr Lee: "The Government is managing these issues carefully and calmly and we hope the people will support us and work with us."

In his speeches in Mandarin and English, Mr Lee said economic performance and jobs are immediate priorities. While economic transformation is progressing at an encouraging pace, it is not complete and all involved must push on.

Finance Minister Heng Swee Keat and the Future Economy Council, together with unions and employers, are implementing industry transformation maps to guide efforts in each growth industry.

Companies are also given support to upgrade and enter markets overseas.

"I believe that so long as the Government, people and industries work together, our economy will continue to grow steadily, we will open new frontiers and we will create good job opportunities for all," Mr Lee said. - THE STRAITS TIMES

EconomyLee Hsien LoongEmployment