International Business & Economy "Retrenchment is likely to rise": Chan Chun Sing addresses post-GE plans

“Retrenchment is likely to rise”: Chan Chun Sing addresses post-GE plans

"The uncertainties in global demand will dampen the demand for our products and services," warned the Minister for Trade and Industry

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With Singapore’s 2020 General Elections now over and done with, Minister for Trade and Industry Chan Chun Sing has recently addressed Singapore’s post-GE plans. He cited the spike in Covid-19 cases and said that the sense of urgency to help businesses is heightened.

Mr Chan on Thursday (July 16) took to Facebook to share a “timely reminder,” which he was made aware of on the way to a meeting among the Multi-Ministry Task Force. “I noticed a banner along Moulmein Road with the words, ‘Love All–Serve All’,” he shared.

This morning, on my way to the Multi-Ministry Task Force (COVID-19) meeting, I noticed a banner along Moulmein Road with…

Posted by Chan Chun Sing on Wednesday, 15 July 2020

Mr Chan led the People’s Action Party (PAP) team who contested in Tanjong Pagar Group Representation Constituency (GRC). The PAP team also included Indranee Rajah, Joan Pereira, Alvin Tan, and Eric Chua.

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The team from the ruling party went head-to-head with a Progress Singapore Party (PSP) team led by Michael Chua. The opposition team also included Wendy Low, Harish Pillay, Abas Kasmani, and Terence Soon.

The PAP emerged the victor in the GRC, bagging 63.13 per cent of the votes, which is less than the percentage of votes that the ruling party bagged in the 2015 General Elections. In the 2015 GE, the PAP won the constituency, bagging 77.7 per cent of votes against a team from Singaporeans First–which is now dissolved.

Days after the final tally was released, Mr Chan said in his Facebook post, “The GE is now over.” He also reiterated the attention that must be given to the nation’s current set of challenges, saying, “Our focus must be to unite as a country to overcome the immense health and economic challenges facing us.”

Mr Chan also cited the recent spike in Covid-19 cases in regional cities, taking the dilemma as a reminder that Singapore must not be lax regarding the matter. “The uncertainties in global demand will dampen the demand for our products and services,” he warned. “Retrenchment is likely to rise. The urgency to help our businesses and workers is acute.”

Mr Chan then said, “Will need to work very hard to take care of fellow Singaporeans.”

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