SPEECH BY MR S. ISWARAN, MINISTER FOR TRADE AND INDUSTRY (INDUSTRY) AT THE OPENING CEREMONY OF THE ITE-VTC INTERNATIONAL STUDENT SEMINAR, ON TUESDAY 27 JUNE 2017, 0940 HOURS, AT THE AUDITORIUM, ITE COLLEGE WEST

 

Mr Bob Tan, Chairman, ITE

 

Dr Clement Chen, Chairman, Vocational Training Council (VTC), Hong Kong

 

Ms Low Khah Gek, CEO, ITE

 

Mrs Carrie Yau, Executive Director, VTC

 

Ladies and Gentlemen

 

Introduction 

1           Good morning. I am happy to join you today at the Opening Ceremony of the ITE-VTC International Student Seminar 2017. At the outset, I would like to extend a special welcome to our guests from overseas. 

2           Since it began in 2007, this international seminar has been a valuable platform for cultural exchange and for students to think about the important issues of the day. This year’s seminar continues that tradition.

Globalisation – How It Affects Economies

3           Over the next few days, you will have the opportunity to explore and exchange views on the theme of this year’s Seminar: Globalisation – Threat or Promise. I am sure you will learn much from each other. Let me also briefly share some views on the subject.  

4           ‘Globalisation’ might sound like a new phenomenon, but in fact, it has been around for thousands of years, from the moment people moved across territories to trade in goods and services. Most of you would have heard of the Silk Road, a land-based trading route from East Asia to Europe. The Silk Road not only brought goods to new markets, it also resulted in towns and cities springing up along the way. With the rise of transportation and communication technology, such trade flows have grown rapidly, creating opportunities for people, businesses and countries. 

5           Singapore is one example. With its strategic location on international trade routes, Singapore became an important trading port in the 1800’s. This in turn attracted our forefathers, who came to Singapore seeking new opportunities, made a living, and stayed on to build this country.

6           Hong Kong and Singapore share a similar history of growing from a fishing village into a major international port. Over the years, our economies developed through industrialisation and manufacturing. Now we are financial hubs, and play host to the regional headquarters of global companies.  

Remaining open and connected

7           All of this was made possible by globalisation. This is especially important to small economies like ours that rely on international trade. If we want to continue creating opportunities for our people and businesses, it is essential that we remain open and connected to the rest of the world.

8           Yet, in recent times, anti-globalisation sentiments seem to be gaining momentum in some parts of the world. This was evident in the recent US presidential election, followed by the United States’ withdrawal from the Trans-Pacific Partnership trade pact. We have witnessed growing anxiety in Europe about jobs and migration, and UK citizens voted for Brexit because many want to leave the European Union. These fears have been exacerbated by advances in technology which are changing jobs and industries. 

Staying Competitive in the Global Market

9           If such anti-globalisation movements become widespread, it will slow down global trade and all countries and economies – big and small – will be losers. And if we do not embrace and adapt to new technologies, we will lose our competitiveness. So, what must we do?

10        First, our economies must stay connected to the world and open to trade, investments, technology and talent. This will allow us to explore new markets, while seeking new opportunities in existing markets. We must continue to build our ties with other countries and regions, working with them to reduce barriers and pursue an open trade policy.   

11        Second, our businesses and industries must innovate and transform to seize new opportunities. As more industries go digital, we must tap on technology to create value and become more productive. Young people like you, who grew up with the Internet and smartphones, are digital natives and can help lead the way. The speed at which we adopt and adapt to new technology will be crucial to competitiveness in the coming decades.

12        Finally, and perhaps most important and relevant to all of us, we must develop our capabilities and deepen our skills by continuing to learn, so that we stay relevant to the changing needs of the economy.

 

Deepening skills and lifelong learning

13        Technology is fast changing the nature of our economy and the work that we do. What does this mean for all of us, especially you who are about to enter the workforce? We must be prepared for the fact that the jobs of tomorrow may be very different from the jobs of today, requiring different skills and capabilities. So how can we “future-proof” ourselves and our careers? We must ensure that we acquire deep skills, which are durable and able to withstand change, and invest in continual learning to ensure we stay relevant to the future economy.

14        The skills and knowledge which you acquire in your ITE or VTC College will give you a firm foundation and enable you to get a good job today. But, to sustain a lifetime career, you must build on this foundation by acquiring further skills and knowledge throughout your life. In Singapore, our post-Secondary Education Institutions and training providers contribute to this effort by offering more modular and technology-enabled training programmes. 

15        While our education institutions can provide the opportunities, ultimately we each need to plan and take responsibility for our own journey of lifelong learning.  So, at each stage of our career, we must identify the skills and knowledge that are needed by our industry, identify the training to acquire them, and then take action to learn. If we meet the changes and challenges of the future with confidence, and have the mind-set to continually acquire the right skills and knowledge, then we will be well-placed to adapt and succeed. 

Conclusion

16        Over the next three days, you will have many opportunities to share ideas, learn about each other‘s cultures, and most importantly make new friends. Having friends from different countries helps to build openness and mutual understanding, as well as ties and networks for the future.  So, I hope you will stay in touch with each other long after this seminar.

17        To our young guests from Hong Kong, I hope you will bring back fond memories of ITE and your time here in Singapore.  And of course, do take this cultural exchange beyond the classroom by experiencing life in Singapore, trying our local food especially the pandan chiffon cake, which I understand is quite popular in Hong Kong! I am also delighted at today’s launch of the e-cookbook, A Taste of Two Cities, which is an ode to our vibrant food culture with recipes from ITE and VTC’s culinary and F&B exchanges.

18        I would also like to commend ITE and Hong Kong VTC for their commitment to advancing bilateral collaboration in vocational training and education. This biennial seminar is testament to how you have worked closely to develop your students holistically and across cultures. Your efforts will certainly have a profound and lasting impact on generations of students in your institutions.

19        I am also happy to note that both institutions are celebrating significant anniversary milestones this year. So let me wish a happy 25th anniversary to ITE, and happy a 35th anniversary to VTC!

20        I wish you all a fruitful and enriching seminar.  

21        I am pleased to now declare the seminar open. Thank you.