The government will increase its efforts to develop and support workers while keeping the economy open, deputy Prime Minister Lawrence Wong said.
Speaking at the Singapore Economic Policy Forum, Wong talked about the government’s strategy to keep the economy growing and ensure its growth is inclusive, despite the unstable global economic ecosystem.
“Our first imperative is to stay open and connected to the world. This is not just essential, but it is existential for Singapore because we are a little red dot with no natural resources and no hinterland,” Wong said.
For Singapore to continue to thrive, it’s imperative to attract the best companies and top talents, while also developing its people, he said.
“This is why we have always been very deliberate in bringing in new investments to Singapore – making sure that these investments help to strengthen our capabilities and our people,” Wong said.
Wong said investing in the skills and human capital of the local workforce will also continue to be a top priority, adding that the government will continually update its manpower policies to manage the flow of work-pass holders and ensure employers adopt fair employment practices.
“Our aim is to invest significantly in all Singaporeans and help them to build up the skills and capabilities they need to succeed throughout their working lives,” Wong added.