Future Economy Council holds first meeting with Heng Swee Keat as chair

Finance Minister Heng Swee Keat took over the post from Deputy Prime Minister Tharman Shanmugaratnam in May.
Finance Minister Heng Swee Keat took over the post from Deputy Prime Minister Tharman Shanmugaratnam in May. PHOTO: ST FILE

SINGAPORE - The high-level Future Economy Council met on Monday (Aug 7), its first gathering since Finance Minister Heng Swee Keat took over the reins from Deputy Prime Minister Tharman Shanmugaratnam in May.

The Future Economy Council, a body overseeing skills and innovation efforts formerly known as the Council of Skills, Innovation and Productivity, was renamed on May Day.

The Council oversees the implementation of the recommendations outlined by the Committee on the Future Economy earlier this year, as well as earlier initiatives, including SkillsFuture.

Mr Heng, who chairs the Council, said in a statement on Monday (Aug 7): "We had a good meeting today, where we discussed how the FEC can enable Singaporeans to pick up and use deep skills, and support our companies to build strong capabilities to compete.

"The FEC will also promote closer cooperation between different industries, as well as between Singapore and the regional and international markets."

The Council comprises 31 members from the government, industry, unions, and educational and training institutions. Mr Tharman is an adviser.

Some new names have been added to the Council since May. They are:

- Mr Lawrence Wong, Minister for National Development & Second Minister for Finance

- Mrs Josephine Teo, Minister for Prime Minister's Office & Second Minister for Manpower and Foreign Affairs

- Mr Roland Ng, president, SCCCI

- Mr Clarence Ti, principal, Ngee Ann Polytechnic

- Mr Dilhan Pillay Sandrasegara, president, Temasek International

- Mr Russell Tham, regional president (Southeast Asia) and corporate vice president, Applied Materials, Inc.

Mr Heng said: "This is an effort that requires everyone - the unions, TACs (trade associations and chambers), businesses, training institutes and Institutes of Higher Learning - to work together closely. We have a good start, and I'm optimistic that, working together, we can make progress to build a strong workforce and economy, and create good opportunities for our people and companies."