Car manufacturing has returned to Singapore, 40 years after American automaker Ford closed its factory in Upper Bukit Timah Road.
But the new plant will be manufacturing electric cars, a high-tech venture by British company Dyson.
This new investment was cited by Prime Minister Lee Hsien Loong yesterday to drive home the point that with technology and a skilled workforce, Singapore can overcome its traditional constraints of scarce land and higher labour costs, and create new and exciting opportunities for Singaporeans.
He was speaking about the importance of keeping the economy growing and pressing on with economic transformation at the People's Action Party's conference.
Referring to a metaphor used by Deputy Prime Minister Tharman Shanmugaratnam, PM Lee said the "escalator" must keep moving up so everyone in society has the chance to do better. If the escalator stops, Singapore will be in trouble, as people will fight over who moves up or down, he added.
"We see such games of snakes and ladders in other economies which have stagnated. The fight over who is up and who goes down becomes much nastier."
Mr Lee also highlighted that Singapore has achieved some early successes in its economic transformation. They include big and small companies that are restructuring, embracing technology and training workers; high-tech industries such as robotics and aerospace engineering; and a start-up scene that is starting to thrive, like fintech.
While Singapore no longer soars with spectacular growth rates like in the past, the Prime Minister is confident it can still achieve steady and sustained growth, so people can look forward to good jobs and better standards of living.
Such advances will give people hope for the future, he said, in spelling out one of the party's key goals.
Thinking and planning for the long term are also a must to imbue Singaporeans with hope, he added.
The huge infrastructure investments in Changi Terminal 5, the Tuas megaport and more MRT lines are examples of how the country is preparing ahead, he noted.
An important aspect of hope is social mobility, Mr Lee said. Hence, the emphasis on education and learning, from pre-school to the workforce and skills upgrading.
He said: "That is what our meritocracy is about - helping each other reach the best of our ability, and not holding back others with the potential to do better than ourselves.
"We cannot cut tall poppies down. We must encourage every poppy to grow. We will be different colours, different heights. But we will be one community, one Singapore succeeding together."
Mr Lee said an egalitarian spirit must also be maintained in society, with people interacting comfortably as equals. Using the Chinese saying "ping qi ping zuo", he said: "We sit together, we rise together, we are on the same level. We feel the kinship and comradeship."
Adrian Lim
