By Imelda Saad | Posted: 19
November 2010 2218 hrs
SINGAPORE: Minister Mentor Lee Kuan Yew has
described it as "pipe dream" for Singapore to develop its own
companies and expect them to compete with successful ones in other
parts of the world.
Speaking at Hewlett-Packard's 40th anniversary in Singapore, he
said that is one reason why the early strategy to develop
Singapore's economy was to attract multi-national companies.
And as the years went by, the quality of investments Singapore
attracts must change to keep pace with the expectations of
workers.
He said MNCs based here should offer higher value-added services
and manufacturing to ensure Singapore can stay ahead of regional
competition.
Another key strategy, said Mr Lee, is to use the English language
to train workers at all levels.
"Had we taken Chinese as our working language, there would not be a
Singapore today as it is. How would we make a living? How would we
connect with the world?
"But we speak English and of course we got Chinese as a second
language, so we connect with them, not speak with them at the same
level as they do, but we get by!"
- CNA/fa