What should the next chapter of the Singapore Story be about?

Here are some thoughts on what would it take for Singapore to become a more gracious society.

In his 9th National Day Rally, Prime Minister Lee Hsien Loong ended his speech by rallying everyone to play a part in the future. He hopes many will join in the quest for an answer for the question he posed:  What should the next chapter of the Singapore Story be about?

Here's how market observers respond:

Lionel Lee, Chairman, Platinum Circle

‘If you want to go quickly, go alone. If you want to go further, go together.’

The three overarching themes of ‘Hope, Heart & Home’ that PM Lee has mapped out for Singapore is  also relevant for our corporate sector when tackling challenges and opportunities in the global  economy, markets and business. And similarly, it all starts with being actively engaged in  conversations, willingness to impart knowledge and becoming the co-creators of a sustainable and  robust Singapore economy.

Hope for fast growing enterprises to go global
For upcoming start-ups and fast growing enterprises, hope comes from business opportunities and growth in emerging markets. As Hal Varian, chief economist at Google described, we are witnessing an age of micromultinationals – small companies that operate globally. However, the global marketplace is hard to navigate and Singapore needs to cultivate an open culture of knowledge-sharing between government and business leaders. It is time for Singapore to recalibrate our relationship with these emerging markets moving forward, rather than congratulate ourselves on the successful past partnerships.

Heart to share and listen
For meaningful conversation to ensue, leaders must be willing to share their experiences and also learn from each other. Take for example the Future Global 100 Initiative by Platinum Circle – this global programme provides a neutral platform for leaders from business, government and intergovernmental organisations to forge new business partnerships, learn from best practices, and share their opinions on growth opportunities at home and abroad. Doing business is not a stand-alone proposition. Simply by tapping onto a global network of expertise, one can become better informed about new territories, make smarter decisions and be more effective in what they do.

Home for future global companies

Trade is the economic backbone of Singapore and the nation must become more attractive for the future global companies to set up operations in. Offering generous tax incentives will not always succeed in wooing potential investors and Singapore needs to mobilise global knowledge to drive future growth areas or sectors.
I believe that the next chapter of the Singapore Story should be about collective growth through strategic partnerships, where businesses, governments and intergovernmental organisations come together to shape our future.

Lee Song Teck, CEO, The Gold Guarantee 

As our replacement fertility rate continues to remain low, we do need to ensure a healthy Singapore population by embracing non-Singaporean talent. To maintain Singapore’s competitive edge, it is essential that we continue to attract these talent.

Singaporeans do need to be mindful of the importance of integrating people from all walks of life and cultures into our society. While we have successfully assimilated foreigners into our society, which is very evident in our bustling city, the interaction is rather limited.

As long as there is no friction or tension, we carry on our way. But we need to move beyond this and integrate Singaporeans and non-Singaporeans so that they become part of our unique society. This is the true test of our nation building.

We may have attained racial and religious harmony but we cannot take this for granted. We have to constantly ask ourselves if we are tolerating others or truly accepting others. It is a very delicate balance which can be easily upset if we do not impart the value of ‘living in diversity’ to our next generation.

Jovina Ang,  Director of Marketing Communications, and Diversity and Inclusion Lead,Microsoft/ adjunct faculty, Singapore Management University.

Singapore to me is indeed a home with hope and a heart. It’s been almost eighteen years since I’ve made Singapore my home. This country has given me many opportunities to grow personally and professionally. I have a great family and a strong support structure of friends on whom I can count on and get together for a conversation, a meal or simply have a laugh.

So, when I was asked to pen my thoughts on what the next chapter of Singapore should be…. I had to really think hard. The Singapore government has done a tremendous job in developing this country and putting in place policies to enhance education, infrastructure, housing and health care for its residents.

Many people have talked about a more gracious and grateful, and less “kiasu” society. Personally, I believe where we want to be in chapter two of our history starts with the values we embrace and put into practice. While I cannot speak for others, the values that are important to me are “love”, hope and happiness. In this context, I define love as treating others with dignity and respect.

Hope is important because hope is a gift not only to celebrate and enjoy life, but is the power to visualise our dreams. Dreams are important because they help us to think big and aim high as the world is constantly changing.

And finally happiness – happiness is about counting our blessings, “smelling the roses”, and being contented with what we have, while striving for excellence. As Aristotle said, “We are what we repeatedly do. Excellence, then, is not an action but a habit.” With strong values in place, Singapore will continue to be a home with hope and a heart for existing and future residents.

Pang Meng Hock, Managing Director, Apex Headhunters

Duplicate our Singapore success story in some parts of the world. Meaning, Singapore will buy or lease some foreign lands and move some of our population there! This will relief the pressure in every aspect of life that is building up in our small island country. Currently, we are like living in a pressure cooker, and no matter how we improve our system (housing, transport, etc.), we are still inside the pressure cooker. The answer is to get out and explore new lands. There are some countries with plenty of lands but little capability to develop, and they would be eager to sell or lease them to us, e.g. 300 years -- enough to last for ten generations. The buying package can include soft and hardware to help develop these countries. It’s a win-win-win solution.