Singapore has achieved good economic growth and a low unemployment rate but it needs new strategies to ensure that its future remains bright, said Deputy Prime Minister Tharman Shanmugaratnam on Tuesday.
These strategies centre around looking for new opportunities to boost the economy, focusing on quality growth anchored on productivity, and economic and social policies that focus on social cohesion and inclusiveness.
These approaches are intertwined and have to be carried out hand-in-hand, explained Mr Tharman, to ensure that all Singaporeans are taken care of.
For example, while Singapore strives for productivity, it must also be mindful of protecting the jobs of lower wage workers through skills upgrading so that unemployment rate remains low.
He was speaking at the start of NTUC's three-day Ordinary Delegates' Conference at the Orchid Country Club. NTUC will take stock of its achievements over the last two years at the conference and map out its new goals.