DPM Teo Says What’s Most Important Is to Improve Technology and Workforce

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On Sunday, February 18, Deputy Prime Minister Teo Chee Hean made a speech that touched on the budget at the yearly spring reception of the Singapore Chinese Cultural Centre (SCCC) and Singapore Federation of Chinese Clan Associations (SFCCA). The Budget will be rolled out today, February 19.

Mr. Teo announced an expected growth in the economy of 1.5 to 3.5 percent in 2018. And while our countrymen may also expect a “big red packet” from the budget, Mr. Teo says that what is far more significant is aiding businesses better their workforce and technology.

Mr. Teo is also the Coordinating Minister for National Security. In his speech he said, “Although everyone hopes for a big red packet, what is more important is how we continue to partner our trade associations and unions to help companies transform and develop new technologies such as in the digital economy. We will also help our workers to raise their knowledge and skills needed for the jobs of the future.”

Nearly one thousand attendees were present for Mr. Teo’s speech. The SCCC aims to further Chinese culture in the country. More than one hundred thousand people have visited the Centre since May 2017, when it first opened.

The chairman of the SFCCA and president of the SCCC, Mr. Chua Thian Po, has announced that in 2018, the Centre will take a leading role in promoting projects that encourage the growth of Chinese culture and fostering of social harmony. Examples of these are an art exhibit, as well as possibilities for young people in the community to help organize initiatives.

Mr. Teo assured the audience that the government will carry on with helping families to acquire their own homes and begin their own families, as well as ensure the wellbeing of senior citizens through plans for social support, which include MediShield Life.

He also said that Since Singaporeans are living longer these days, the government will also keep on promoting healthcare initiatives, investing more in helping seniors stay active, as well as other activities. Mr. Teo assured the audience that the government is aware to keep finances stable, in order to take care of the needs of an aging population.

He said, “Our founding generation has laid down a strong foundation for us and saved resources for the current generation. Similarly, we, too, must prepare for our next generation, so that our children can have a stronger foundation and the best opportunities to succeed.”