SINGAPORE: To create an "even more vibrant economic future",
Singapore must adjust its economic strategies said Deputy Prime
Minister Teo Chee Hean on Monday (Jul 20).
Speaking at the Economic
Development Board (EDB) Scholarship Award ceremony, Mr Teo said
Singapore's proximity in the region puts it in the "centre of an
ocean of opportunities", and it must seize these opportunities by
"moving up the value chain".
"Consumer-oriented firms will
be keen to gain compelling consumer insights, create new products
and services to meet growing regional needs, and hire people with
the right skills, knowledge and industry experience to expand their
business in the region," he said.
Singapore's economy needs to
rely less on unskilled foreign labour, and focus more on raising
productivity, he said, adding that there are opportunities for
Singaporeans to sharpen their skills with initiatives like
SkillsFuture.
At the annual award ceremony,
EDB handed out scholarship awards to five pre-university students
with outstanding track records in academics and in their
co-curricular activities.
The scholarship is awarded to
pre-university students with GCE A Levels, International
Baccalaureate or Diploma (NUS High or equivalent). Award recipients
must also display initiative, talent and creativity, as well as a
drive to further EDB’s vision of building and transforming
Singapore's economy, it said.
The recipients this year are
Ong Ze Xuan from NUS High School of Math and Science, Gavin Soh
from Victoria Junior College, Kevin Goh from Raffles Institution,
and Toran Labhaya Seth and Christopher Chiah from Anglo Chinese
School (Independent).
With the scholarship awards,
the students can pursue their studies in top overseas universities.
After graduating, they will serve a six-year bond with
EDB.
- CNA/eg
