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Prime Minister Lee Hsien Loong announced in October 2015 that the Singapore Government is setting up a Committee on the Future Economy (CFE). The 30-member CFE will develop economic strategies to position Singapore well for the future so that it will be a vibrant and resilient economy with sustainable growth that creates value and opportunities for all.
YCH Group’s Executive Chairman and current President for the Singapore National Employers Federation, Dr. Robert Yap, has been appointed as part of the 30-member CFE. The committee members come from different industries, operating in both global and domestic markets, from enterprises both large and small. Dr Yap joins Citibank Singapore CEO Han Kwee Juan, Minister for National Development Lawrence Wong and Managing Director for The Boston Consulting Group Ms Mariam Jaafar, among others.
The 30-member CFE will be helmed by Finance Minister Heng Swee Keat and his deputy chairman, Minister for Trade and Industry (Industry) Mr S Iswaran. It will build on and update the Report of the Economic Strategies Committee of 2010. It will address five areas of Singapore's future economic development:
- Future growth industries and markets
- Corporate capabilities and innovation
- Jobs and skills
- Urban development and infrastructure
- Connectivity
The CFE will consult with Trade Associations and Chambers, as well as the trade unions, to forge new strategies together to develop Singapore’s competitive strengths. The CFE will also tap on resource persons, such as thought leaders from the corporate world and in academia, from both Singapore and abroad. In addition, the CFE will consult and engage widely to get a good representation of views from all sectors of the economy. It will seek the views of key stakeholders on challenges and opportunities, and draw on their ideas on how our people and enterprises can play an active role in developing our nation’s economic future.
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