The Singapore economy will go through cycles and the Government is prepared for that, Finance Minister Heng Swee Keat told Singapore media in San Francisco on the sidelines of a tech forum on the last day of his 11-day trip to the US.
Singapore has to stay focused on its industry transformation and look at how synergy can be created, he added."The other area is to push ahead with technology innovation," he said."I think we must position Singapore as a global Asian node of technology innovation and enterprise." "What struck me is the speed and scale at which they are taking this challenge very seriously. It's an area we must invest a lot of time and resources in.
He said Singapore was fortunate to have a single layer of government, which allows faster decision-making."But we need to look at how our regulatory approaches need to change in order to enable this innovation to take place," he added.
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