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CHALLENGES: Boosting the Singaporean core
Roadblocks loom in raising worker productivity
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Outward-facing sectors like manufacturing generally outperform domestic sectors in productivity, says OCBC Bank’s Ms Selena Ling.
ST PHOTO: KUA CHEE SIONG
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Labour productivity continues to be one of the Singapore economy's main challenges, despite consistent growth in this area over the past 10 years.
A decade ago, the Economic Strategies Committee set a productivity growth target of 2 to 3 per cent a year for the economy.
