PM Lee: Refocus on future now that COVID-19 is under control

Prime Minister Lee Hsien Loong lays out three tasks to preserve the Lion City’s economic growth.

“With COVID-19 under control, we must now refocus on the future,” said Prime Minister Lee Hsien Loong in his National Day Rally speech on 29 August.

Calling the pandemic Singapore’s worst economic crisis since its independence, Lee gave three tasks that would help ensure long-term economic growth.

These are preserving Singapore’s status as a business hub, remaining attractive to investors, and supporting Singapore companies in making their mark in the new economy.

On securing Singapore’s status as a business hub, Lee noted the need to reopen borders for local and international travel, for employees of multinational companies (MNCs).

“Many MNCs use Singapore as their regional base. Their staff, both local and foreign, need to fly in and out of Singapore to visit operations in other countries. So, too, do our own businessmen. If our borders stay closed for too long. MNCs will find us less useful. Singaporean businesses also will suffer and our economy will be permanently damaged,” Lee said.

He added that the government will help create the conditions for local entrepreneurs to grow their companies to become global names, citing companies like Carro, SecretLab, Carousell, and Hegen.