Singaporeans need to be more entrepreneurial in mindset, East Coast resident tells WP’s Nicole Seah

SINGAPORE: During a visit to Limau Estate at East Coast on Saturday (June 3), one resident spoke to The Workers’ Party’s Nicole Seah about “the need for Singaporean talent to be more entrepreneurial in mindset,” adding that the country’s over-reliance on FDI (foreign direct investment) “has to some extent created a cog mentality.”

Ms Seah, who has headed the WP Youth Wing for the past couple of years and who has been active on the ground at East Coast GRC, wrote that this “was sobering food for thought for our long-term viability and the role the vast majority of Singaporeans represent, including myself, in the wider economic context.

The cycle of change is much more rapid and volatile than it ever used to be, and it is also challenging for governments around the world to set a long-term vision in this aspect.”

Switzerland and Singapore have consistently topped an international survey of the best nations for nurturing entrepreneurial talent and competitiveness.

In 2022, Switzerland was number one on the index, followed by Singapore.

And on the Global City Talent Competitiveness Index (GCTCI) for 2022, Singapore, the only Asian country to make it into the top 20, ranked sixth.

The Global Talent Competitiveness Index focuses on the ability of different countries to attract and retain entrepreneurial talent, which is considered a vital contributor to economic success in today’s competitive market.

An essential part of any country’s economic success is ensuring that the best possible talent is attracted to and placed in key industries and that it remains there and does not go elsewhere looking for “greener pastures”.

The report found that the highest-ranking countries and cities tend to be the most open to entrepreneurial talent and that digitalisation and globalisation are increasing the role of entrepreneurial talent. /TISG

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