Embrace the digital economy

There is one important reality that we must come to terms with now, and that is this. We are not returning to a pre-COVID world. We should not be preparing for ‘business-as-usual’. Or preparing to return to the good old normal.

𝐍𝐨𝐰 𝐢𝐬 𝐭𝐡𝐞 𝐭𝐢𝐦𝐞 𝐭𝐨 𝐫𝐞-𝐞𝐧𝐠𝐢𝐧𝐞𝐞𝐫 𝐨𝐮𝐫 𝐩𝐫𝐨𝐜𝐞𝐬𝐬𝐞𝐬, 𝐛𝐮𝐢𝐥𝐝 𝐚 𝐧𝐞𝐰 𝐞𝐜𝐨𝐧𝐨𝐦𝐲, 𝐚𝐧𝐝 𝐭𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦 𝐭𝐨 𝐜𝐫𝐞𝐚𝐭𝐞 𝐭𝐡𝐞 𝐫𝐢𝐠𝐡𝐭 𝐨𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐟𝐨𝐫 𝐨𝐮𝐫 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬𝐞𝐬 𝐚𝐧𝐝 𝐩𝐞𝐨𝐩𝐥𝐞.

𝐈𝐟 𝐰𝐞 𝐟𝐚𝐢𝐥 𝐭𝐨 𝐚𝐜𝐭 𝐧𝐨𝐰, 𝐰𝐞 𝐦𝐚𝐲 𝐯𝐞𝐫𝐲 𝐰𝐞𝐥𝐥 𝐬𝐞𝐞 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞’𝐬 𝐡𝐮𝐛 𝐬𝐭𝐚𝐭𝐮𝐬 𝐛𝐞𝐢𝐧𝐠 𝐜𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐝 𝐚𝐧𝐝 𝐛𝐲𝐩𝐚𝐬𝐬𝐞𝐝. We may see our businesses and workers losing their relevance and competitive edge, and in turn, our economic and geopolitical manoeuvring space will be more limited and constrained.

- Trade & Industry Minister Chan Chun Sing