With growth getting harder to achieve, Singapore must restructure its economy to sustain transformation, encourage innovation and boost its standing as a global-Asia node, Deputy Prime Minister Heng Swee Keat said in Parliament on Tuesday (Feb 27). Economic competitiveness – for both companies and workers – was a major theme of the second day of debate on Budget 2024, with 28 Members of Parliament and political officeholders discussing issues such as artificial intelligence (AI) and reskilling. In his speech, Heng warned that the external environment has grown tougher amid protectionism and political unrest, while Singapore’s economy is maturing and its labour force is shrinking. “The days of ‘catch-up’ growth are over, and our resource constraints – labour, land, carbon – are becoming biting,” said Heng, who is also coordinating minister for economic policies.   https://www.businesstimes.com.sg/singapore/as-growth-gets-harder-to-achieve-singapore-must-transform-innovate-and-be-a-global-asia-node-dpm-heng (ICE SINGAPORE)

Fonte notizia: The Business Times, 27 February 2024