SINGAPORE: Former Minister Mentor Lee Kuan Yew said
that one key factor for Singapore's success is the confidence
people have in the country.
Mr Lee was speaking at a dialogue organised by
Standard Chartered Bank on Wednesday evening.
Joining Mr Lee for the dialogue were former chairman
of the US Federal Reserve and former chairman of US President
Obama's Economic Recovery Advisory Board, Paul Volcker, as well as
Standard Chartered's group chief executive Peter Sands.
Mr Lee said investors have confidence because of Singapore's sound
institutions, and to build them the country must have a stable
government.
Mr Lee said he does not see any developments that will change that
situation in the short term of five, 10 or 20 years.
"It will be very stupid of us to shake that confidence. The
confidence rests on several pillars - institutions, sound policies
by the government - you can always predict what we are going to do
in any given situation, and an open trading area," said Mr
Lee.
- CNA/fa
