Prime Minister Lee Hsien Loong in his annual May Day Rally speech acknowledged that keeping Singapore open brings the stress of competition for jobs from foreigners. The Government is slowing down the inflow of foreign workers, "but we must not send the wrong signal that Singapore doesn't welcome investments or we are turning away talent", he cautioned. He pointed out that Singapore is at a turning point, with the economy and society undergoing major transitions. By any international measure, the country is doing well, although changes have brought new strains, including heightened competition, widening gaps in society, and worries over the cost of living.
The Government will keep up its efforts to grow the economy, expand exports and draw foreign investments, so that workers will have better jobs, which would bring better lives.
He also urged companies to raise productivity by tapping on government schemes, raising the example of two small- and medium-sized enterprise that used subsidies to automate its production, Fong Shen Mould and Precision Engineering.
We can't tell our competition to go away. They want to eat our lunch... We can't stop them from wanting, but we can make sure that we can hold our own and we can eat our own lunch", said Prime Minister Lee Hsien Loong in his annual May Day Rally speech.
He was referring to the importance of workers constantly upgrading their skills so that Singapore can maintain its advantage in the face of relentless competition from workers of other countries and also robots which threaten to replace humans, he said. While the Singapore workforce remains ahead of others, "no lead is permanent", he cautioned.
In his speech, PM Lee outlined the plans for improvements to take the country forward, pledging initiatives for better workers, better jobs and better lives.
He said that the Government will do its utmost to make sure better workers will have better jobs. It will continue to invest heavily in education at all levels, while also giving adult education a big push.
What are your thoughts on constantly upgrading your skills to ensure employability and maintain competitiveness?
Source: The Straits Times article “PM’s goal: Better workers, jobs and lives”
Read the second part of his speech: "Singapore at a turning point, but doing well: PM’s May Day Rally Speech"
Source: Reach.gov.sg