Singapore’s Prime Minister, Lee Hsien Loong was very optimistic in his New Year’s message, about the future of the country’s economy, as numbers show that it rose by 3.3%. You would think this isn’t a significant rise but as per forecasts this this growth surpassed expectations.
He said the economy is expected to grow by between 1.5 per cent and 3.5 per cent this year, but warned that the global economy faces major uncertainties with growing trade conflicts, nervous financial markets and signs of slowing growth.
Due to the long-term policies that were set into action and a strong team in charge, the country definitely has reason to be confident about its future. The younger political office-holders are being exposed to different responsibilities and working together as a team.
Singapore Parliament re-opened in May after a Cabinet reshuffle which opened up more opportunities for the younger political office holders to take on different responsibilities and working together.
Prime Minister Lee Loong also went on the state, “This is a good outcome. It gives Singaporeans and foreigners alike confidence that Singapore will be in good hands over the long term, beyond the working lives of me and my senior colleagues.”
In the midst of the leadership transition, the Prime Minister highlighted the important role Singaporeans play in this process and asked them to work with the younger leaders “to form the best team for Singapore”. Of course He and the other ministers will do their best to help the new team take over the reins and to succeed in their responsibility to lead Singapore and secure its future but it’s up to them to make sure they lead the country with confidence and individuality.
The country’s model of governance is “quite exceptional, and has served us well”, he said, enabling Singapore to make the most of what it has and stand out in a highly competitive world.
Even though there may be uncertainties in the surrounding region with Malaysia and the US-China trade wars, Singapore has reason to stay strong and move full speed ahead. 2019 is going to be a prosperous year for Singapore and if you are thinking of expanding your business to the region, Kelmer Group has offices in Singapore, Shanghai, HongKong, Hanoi and Manila.
Get in touch with our Singapore office for more details firstname.lastname@example.org