Aim to be global hub for trade, commerce

Singapore can become a switching centre for ideas, innovation, knowledge, collaborations, technology and other resources.
Singapore can become a switching centre for ideas, innovation, knowledge, collaborations, technology and other resources.PHOTO: ST FILE

Singapore should aim to become a global hub for trade and commerce, as well as other essential services, instead of aiming to be just a "global hub for bridging cultures", (S'pore can be global hub for bridging cultures: Heng; Jan 13).

The world is at an inflection point, as it tries to make sense of the volatile, uncertain, complex and ambiguous environment.

This is an opportune time for Singapore to make its move, as many developed countries are adopting austerity measures and taking a cautious approach in achieving progress.

Through globalisation, talent development, digitisation and innovation, Singapore can reposition itself as a vital hub, a router and connector for the world at large.

Singapore can become a switching centre for ideas, innovation, knowledge, collaborations, technology and other resources.

So that in the future, whenever something is sold from one country to another, even if the goods do not physically pass through Singapore, it can still have a stake in the transaction.

In the past, Singapore leveraged its geographical position to serve as an important entrepot for the region.

By becoming a headquarter of the globalised community, Singapore can go beyond its physical and other constraints to create a better future for its people.

Patrick Liew Siow Gian (Dr)

A version of this article appeared in the print edition of The Straits Times on January 28, 2019, with the headline 'Aim to be global hub for trade, commerce'. Print Edition | Subscribe