Our strategy is one of RISK MANAGEMENT, and NOT RISK ELIMINATION, says Trade and Industry Minister Chan Chun Sing.

Our strategy is one of RISK MANAGEMENT, and NOT RISK ELIMINATION, says Trade and Industry Minister Chan Chun Sing.

Risk management involves taking risk and managing that risk when it happens. Risk elimination means doing nothing, no resumption of activities.

Obviously, risk elimination is out of the question. We've been told more than once that as we move towards Phase 3 and resume more activities, we should also expect more COVID0-19 cases. This is something we must be mentally prepared so that whenever a case emerges, we do not have a knee jerk reaction or swing to an extreme and call for a cessation of activities.

Why risk management? Mr Chan explained earlier in a speech on Nov 25 at TravelRevive that Singapore's reliance on external connections and visitors necessitates us to adopt a “risk management” instead of a “risk elimination” approach.