Singapore committed to staying open to world

Singapore continues to value foreign contributions and will not change its approach to running the economy, Health Minister Ong Ye Kung said yesterday.

This means it still welcomes, facilitates and protects foreign investments. It will also continue to complement its local workforce with foreign talent, and work to fortify and expand its network of free trade agreements, he said.

"We will continue to value the technology and expertise the world can offer us. We will persist in learning from everyone," he added.

In a speech to members of the European Chamber of Commerce in Singapore (EuroCham), he assured his audience of the country's continued commitment to staying open to the world.

Doing so is part of the reality the country operates in - that it needs to tap global markets to survive.

But this understanding of the world has recently been called into question, with the minister identifying two reasons for this.

They are the current debate on foreign manpower and free trade, as well as the broader impact of Covid-19 on the economy.

"In Singapore, there have been attempts to use free trade agreements... to whip up anti-foreigner sentiments and seed xenophobia in our society," the minister noted.

He and other Cabinet ministers have taken to Parliament to defend such agreements, as openness is a fundamental value for the ruling party, he said.

But he also acknowledged the downsides of globalisation, including heightened competition from foreign manpower and the over-concentration of foreigners in certain sectors or firms.

"We will deal robustly with these issues. If we don't, resentments will grow, and there will be fertile ground for far-right populist politics to gather strength," Mr Ong said. "We are determined to never let such politics take root here."

When Covid-19 hit, Singapore was forced to close its borders. Even so, he said, it took steps to stay open - contributing to the world by keeping supply lines clear and helping foreign workers keep their jobs.

Everyone infected with Covid-19 is also treated equally regardless of nationality, with the Government absorbing the costs, he said.

He also spoke of how Singapore's middle-course approach was the "right and prudent" decision.

While there were restrictions, many people were generally able to go about life as usual. In contrast, other countries implemented tight border measures which would have been difficult for Singapore to sustain, while yet others opted for freedom at the heavy cost of lives.

"People value us because the city is well governed; everything works; we are stable, secure and safe; and above all, because we take care of everyone in Singapore, even in a pandemic," Mr Ong said.

Had the country taken a different tack, its experience with Covid-19 would have been like New York's or London's, he added. "People would now be asking to leave Singapore, not asking to return."

EuroCham president Federico Donato said he welcomed indications that Singapore is working towards a cautious but steady reopening of its borders.

The trade association appreciates Singapore for its reliability, as well as its clear vision of the road ahead and the certainty its system works, he added.

Source: Straits Times