S'pore can move into upper half of First World in 10-20 years

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Published February 24, 2007

S'pore can move into upper half of First World in 10-20 years

Next 5 years will be good for growth, says MM Lee


By DANIEL BUENAS


(SINGAPORE) The next five years will be good for Singapore and the country can raise itself into the 'upper half' of the First World in the next 10-20 years, Minister Mentor Lee Kuan Yew said last night.

Speaking at the Tanjong Pagar GRC Lunar New Year Celebration Dinner, he said Singapore has been growing 'two extra wings' for its economy. It has deepened ties with the US and Japan through free trade agreements, and enhanced ties eastward and westward with China, Vietnam, India and the Gulf Arab states.

'Our GLCs, many small and medium enterprises and many hundreds of Singapore's architects, engineers, accountants, lawyers and executives are now doing business in these countries,' he said. 'Barring accidents, the next five years will be good for growth.'

Singapore has moved from the Third World to the 'lower half of the First World', Mr Lee told an audience of 1,600 grassroots leaders, residents and guests. 'Now, we can move into the upper half of the First World. We can do this in the next 10-20 years.'

The rest of the world has noticed that Singapore is changing, he said. The work style and life style of Singaporeans are changing. The country's social and cultural life is becoming more vibrant. The night scene has been transformed. And the landscape will change.

'The next stage after clean and green Singapore is a vibrant city with clean water and gardens everywhere,' Mr Lee said. 'This will be done in your lifetime.'

The Singapore of the 1980s is in the past, he said. After the integrated resorts open by 2010, tourist numbers are expected to grow to 17 million by 2015. 'Coins will jingle in all pockets.' But with more jobs available for Singaporeans, employers must make a special effort to employ older people.

As part of Singapore's transformation, the government has studied global cities such as Paris, London and New York, which each have their own unique strengths and qualities, Mr Lee said. 'Singapore must incorporate their best features in a tropical version.'

But to grow, Singapore must attract investments. Because without economic growth and higher incomes, the country will face increasing social problems and decline.

'So we have to keep our corporate income tax and personal income tax low,' he said. 'And we must make Singapore a great place to live in and bring up children. This is the way to attract investments from the most advanced countries.'

Mr Lee noted that many Singapore businesses have expanded abroad, and that the country's foreign earnings have grown as these activities expanded.

Many Singaporeans, too, are working overseas. Although there is no definitive number, there could be more than 140,000, or 230,000 including permanent residents, he said.

'We must maintain our links with Singaporeans who have ventured abroad and are increasing their earnings and those of Singaporean companies.'

Feb 24, 2007

S'pore ready to become a top First World nation: MM

Country's landscape will be transformed by incorporating best features of top cities

By Peh Shing Huei & Sue-Ann Chia


THE architect of Singapore's move from Third World to the First believes the country is ready for the next step up.

Minister Mentor Lee Kuan Yew said last night that Singapore can move from the lower half of the First World to the top half in the next 10 to 20 years.

'This Chinese New Year marks a new stage in our development,' he said at a Tanjong Pagar GRC dinner, adding that barring accidents, 'the next five years will be good for growth'.

Singapore's landscape will be transformed by incorporating the best features of the world's top cities: Paris' al fresco buzz, London's cosmopolitan mix and New York's arts and business charm.

But it will come with a tropical twist - lots of water and greenery.

'The next stage after clean and green Singapore is a vibrant city with water and gardens everywhere. This will be done in your lifetime,' he said at the annual Chinese New Year dinner - an event where he traditionally shares his vision for the country.

The new city centre in downtown Marina will be an iconic one with a promenade, he said.

Pedestrians and electric golf buggies will have unimpeded access. Al fresco dining, restaurants and shops will line the bay, while boats for tourists can cruise on the Singapore and Kallang Rivers.

Elegant buildings like the Marina Sands Bay Integrated Resort will dot the waterfront.

'The Marina will be like the St Mark's Piazza in Venice,' he said referring to the focal point of the famous Italian city on the Adriatic Sea.

Elsewhere, drains and canals will be turned into ponds and streams. 'There will be clean running water, greenery and boardwalks for people and children to enjoy these streams and ponds - fishing, boating or dining al fresco,' he said.

'Hotels, condos and HDB homes that front these canals or drains will look out on greenery and water.'

Lawyer Raymond Tan, 39, was excited by the vision: 'It's very heartening to know that we are not stagnant, that we are building for the young and the future.'

But Mr Lee stressed that even as engineers work to ensure the water flowing into the Marina is not polluted, Singaporeans must do their part to keep the waterways clean.

He also said that Singapore's transformation has kicked in, with rock concerts and plays held here, and a thriving night scene at places like Clarke Quay.

With the two Integrated Resorts up by 2010, 'coins will jingle in all pockets', he said.

Indeed, as he declared to 1,600 residents: 'The Singapore of the 1980s is the past.'

Like other developed countries, Singapore companies are expanding abroad.

The Singapore diaspora is also growing. 'Guesstimates' are that some 370,000 Singaporeans and permanent residents are abroad.

The key is to keep in touch with them. 'We must maintain our links with Singaporeans who have ventured abroad and are increasing their earnings and those of Singaporean companies.'

He urged employers to make a special effort to employ older workers. With retraining and job redesign, workers retrenched can be re-employed and work beyond the retirement age of 62 - provided they remain fit and healthy.

But Singapore's transformation would not be possible without economic growth. To do so, Singapore needs to attract investments, and keep corporate and personal taxes low.

And Singaporeans must welcome foreigners here, as they are the 'extra megabytes' and Singaporeans, the 'hard disk'.

Said Mr Lee: 'We must make Singapore a great place to live in and bring up children. This is the way to attract investments from the most advanced countries. And we are building numerous ties with the wider region, China, India, the Gulf and beyond. This is the future.'

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