“What Singapore has achieved, very few others have done”: President

President Tony Tan went so far to say that Singapore’s "well educated, hardworking workforce" is the best in the world.

At the opening of the 12th Parliament, President Tony Tan in his address said, “While focussing on our domestic concerns, we must not lose sight of our external environment. The world economy is going through a very difficult period. The serious fiscal problems in the US will not be solved soon. Nor will the European debt crisis, and the problems with the Euro currency. These troubles will affect the world economy, which will likely be sluggish for an extended period, and could well dip into another recession. This will inevitably affect Asia, and definitely Singapore.”

Fortunately, according to him, Singapore has built strong foundations. “We have a well-diversified, financially sound and competitive economy. We have adequate reserves to help see us through tough times. We have a well educated, hardworking workforce – the best in the world – and a strong tripartite partnership,” said the President.

President Tony Tan said Singapore must stay strong, cohesive and alert, especially to potential threats to unity, prosperity and security. “This is how we have overcome difficult challenges before, be it Separation, terrorism, SARS, or the global economic crisis. These shared trials have strengthened our bonds, and helped us to mature as a nation,” he said.

“What Singapore has achieved, very few others have done. Here we have created something unique – a global city at the heart of emerging Asia; a multi-racial society living harmoniously in a tropical garden city; an exceptional nation, defying the odds of history. Let us build on this strong foundation together, to give all Singaporeans a better life and a brighter tomorrow,” concluded the President.

View the full speech here.