In his May Day address, Prime Minister Lee Hsien Loong said that Covid-19 is this generation's challenge (Singapore economy faces major structural changes: PM Lee, May 1).

The implication is that we have to grasp new opportunities to leapfrog others and create a more self-sustaining society.

With that in mind, here are five opportunities that should be grasped in the post-Covid-19 era:

First, set up a virus identification centre which can also test vaccines, among other applications. This would enhance our defence mechanisms when the next pandemic hits.

Second, tweak our airport ecosystem by consolidating or expanding existing terminals. Consider deferring the completion of Terminal 5 as airline travel has declined.

Third, consider reducing the number of foreign workers in Singapore, through methods such as automation.

Fourth, roll out 5G networks more quickly, and move into areas such as remote surgery and self-driving vehicles.

Fifth, create a digital tax on all e-commerce transactions.

As PM Lee pointed out, rapid structural changes will affect new and existing industries, and we need to be up for the challenge.

Hua Tye Swee