By S Ramesh | Posted: 20 November 2010 1133 hrs
SINGAPORE:
Singapore's remarkable economic growth this year, forecast at 13-15
percent, is likely to be a one-off event, says Trade and Industry
Minister Lim Hng Kiang.
A more sustainable GDP growth for the
long term is 3 to 5 percent, said Mr Lim at a graduation ceremony at the
Ong Teng Cheong Labour Leadership Institute on Saturday.
The
minister stressed that a 3%-5% growth would still be a challenge,
considering the maturity of the Singapore economy, the continuous
uncertain global economic outlook and intense competition for investment
and jobs.
Hence it is important that Singapore continues to
build up its competitiveness, resilience and capability, added Mr Lim.
In
this regard, Mr Lim explained that developing the nation's human
capital and raising productivity levels will be key to maintain global
competitiveness and achieve sustainable economic growth.
And
the government remains committed towards investing heavily in the
continuing education of workers.
Mr Lim said: "Likewise,
considerable resources have been set aside to drive productivity.
Equally important is the mindset and attitude of our workers.
"We
must continuously upgrade ourselves and encourage companies to embrace
innovation and continuous productivity improvement. A highly capable,
disciplined and productive workforce, coupled with competitive
companies, will give us an important edge over our competitors."
Mr
Lim added that the labour movement plays a big role in this effort by
championing both workforce upgrading and productivity in Singapore
companies.
Meanwhile, the Ong Teng Cheong Labour Leadership
Institute has plans to play its full role to keep developing leaders in
the NTUC.
Finance Minister and Chairman of its Board of
Governors, Tharman Shanmugaratnam, said the institute will serve as the
secretariat for the new NTUC Leadership Committee comprising key union
leaders.
It will facilitate sharing of best practices in
attracting, retaining and developing union leaders.
The
institute also intends to tap on the experiences of some of its veteran
unionists.
To achieve this, it is setting up an Institute
Fellowship Scheme.
Mr Tharman said the fellowship scheme will
recognize up to 10 outstanding union leaders identified by the NTUC each
year and the fellows will be involved in sharing their experience,
chairing dialogues, briefing visiting groups, mentoring younger leaders
and promoting tripartism.
They will also be at the forefront of
helping the labour movement secure a healthy pipeline of capable and
committed leaders.
Two veteran unionists - Victor Pang and Thomas
Thomas - have been named as the inaugural fellows under the scheme.
-
CNA/ir
3%-5% inflationary growth. ![]()
Nothing new. I expect a decline adjustment after next election.
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