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Singapore needs to remain «cautiously optimistic» and adjust its current economic strategies to ensure that it is well-positioned for the future, said Acting Minister for Transport Jeffrey Siow.Speaking on the sidelines of a closed-door engagemenConditions for Singapore's success have shifted, and we must stay 'cautiously optimistic': Jeffrey Siow
Singapore needs to remain «cautiously optimistic» and adjust its current economic strategies to ensure that it is well-positioned for the future, said Acting Minister for Transport Jeffrey Siow.Speaking on the sidelines of a closed-door engagement session between Economic Strategy Review (ESR) members and business leaders on Wednesday (Nov 19), Siow told the media that the conditions for Singapore's success have «fundamentally changed».Amid a global shift that has led to less free trade and intensified competition between economies, the ESR and its five committees are working to recalibrate Singapore's economic strategies and double down on those that may not work anymore, said Siow.In particular, the committee on global competitiveness, which Siow co-chairs, is focused on developing strategies to strengthen Singapore's value proposition as an investment destination.To do so, Singapore is working with its MNC partners, such as Applied Materials and GSK, to bring in more value-added projects that are «on the frontier of their businesses». Read more











