Smart Nation in the making

The Business Times
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Published: 8 Aug 2016

 
What are the biggest issues facing Singapore as the country celebrates its 51st National Day?

One of the biggest challenges that a mature economy such as Singapore faces is stagnating growth.

We need to hasten the economic restructuring process, which has been ongoing for several years now, and quickly identify new areas of growth that will help Singapore retain its competitiveness. Many companies have already begun moving out of Singapore and this does not bode well for the economy.

It is also critical that we develop a stronger framework to bolster the core Singaporean labour force. The acute manpower crunch especially in certain industries is hurting businesses that are already struggling in the face of global economic headwinds and a sluggish market.

Ronald Lee
Managing Director
PrimeStaff Management Services Pte Ltd

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