Introduction

Mr Chairman, my Minister has elaborated on our overall strategy for growing the Singapore economy. While we have done well in recent years, we must continue to pursue new growth areas and opportunities. As several members have pointed out, we must ascend the value chain into higher value-added activities in all sectors including the energy, tourism, and R&D. Indeed, this is the most robust strategy to ensure sustained growth, create good quality jobs for Singaporeans, and help us face the many challenges that lie ahead for our economy and country.