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SINGAPORE – “We must brace ourselves for the uncertainties ahead,” the republic’s Prime Minister Lee Hsien Loong told fellow Singaporeans in his New Year’s message today.
According to him, the international outlook “remains troubled.”
“The Russia-Ukraine conflict continues, with no good outcome in sight. United States-China tensions are likely to persist. How quickly China recovers from Covid-19 remains to be seen, while the US and European Union may well enter recession,” said the prime minister.
Considering the global situation, Lee noted that Singapore’s economy will be affected.
The republic’s Trade and Industry Ministry, he said, “expects slower growth in 2023 of between 0.5% and 2.5%.”
In such testing times, Lee said Singaporeans “must above all stay united as one people.”
Lee highlighted that his deputy prime minister Lawrence Wong and the fourth-generation team have been busy with discussions on the Forward Singapore plan, partnering with Singaporeans to refresh their social compact and chart new directions forward.
Many Singaporeans, he said, have gone beyond actively sharing their feedback and views, and stepped forward to volunteer in areas where they can contribute and partner with the government.
“This collective sense of ownership and responsibility is crucial to renewing and strengthening our social compact.
“We look forward to the outcomes of the discussions, and to completing the exercise in the second half of next year,” he said.
The prime minister applauded that Singapore has safely weathered the Covid-19 pandemic and emerged stronger.
“Our Covid-19 response has enhanced our international standing. There is great interest in Singapore (with) many businesses and individuals wanting to set up shop here and in the region. We must seize the moment.
“Welcome promising investments and talents of all nationalities to Singapore, while building up our own skills and capabilities, venturing forth to chase our dreams in the region and the world,” he said. – Bernama, December 31, 2022