Singapore economy likely grew more than 1 pct in 2016 - PM

ReutersJanuary 2, 2017

ricky l

4 seconds ago

I think there is no need to panic.

Singaporeans should watch out for :-
"The government's Committee on the Future Economy will unveil its recommendations on longer term strategies for growth soon".

Increasingly, we should focus on "Services" as the Engine for Growth.

This focus will help to chart, foster, grow, expand and export "Services" - as our Growth Engine --- that will transcend and go beyond the constraint of "Physical Boundary".

ricky l

11 seconds ago

Services for growth will be able to create, penetrate and foster "virtual connectivity, virtual penetration, virtual community, virtual marketplace, virtual trading, virtual exchange, virtual finances, virtual currency" etc ---- transcending "physical boundary, physical constraint, physical restraint" ---- and complete transaction in real-time, online and at break-neck speed.

This means more jobs will created for PMETs - where the percentage of PMETs have increased from 10% to the future of 40% or more.

This will decrease the manufacturing contribution to the Economy.

In addition, SMEs will also increasingly leverage on the "Service Economy" to grow their business and rely on robotics, automation.

All this will help to transcend Singapore's constraint of "Physical Boundary" - by going "Virtual" - where the "boundary is limitless - the Globe".

• 

  ricky l

  now

  If Singapore is able to do this and succeed, Singapore has reached "Nirvanic Economy" - the State of Nirvana - boundless. borderless, virtual, limitless........
• • 

    ricky l

    10 seconds ago

    And for Singapore, the "Globe will be Our Marketplace - with no Boundary" - this should be our focus of "Service Engine for Growth".
    
    We should explore, open up and penetrate "New and unchartered market" as well - as physical boundary is no longer a constraint.
  • • 

      ricky l

      now

      Through the "Service Sector" ---- we will then attract and draw the "Physical connectivity" back to Singapore - and grow our manufacturing and other physical sectors and industries.
      
      This will be the reverse grow - to overcome our "physical constraint".
    • • 

        ricky l

        now

        It is thus important for Singapore to maintain good relationship with many and if possible every Countries in the World.
      • • • 

            ricky l

            11 seconds ago

            Singapore have managed to grow our "Service Sector" to contribute 25% to the Economy.
            
            With increased focus, the target is to grow it to 50% of the Economy ---- that will effectively cover the loss in "Manufacturing sector" and "SME sector - that is not able to grow with no corresponding grow in manpower".
            
            PMETs will grow in importance and can grow in number - and contribute to more middle-top income earners.
          • • 

              ricky l

              2 seconds ago

              Specifically, this "Service Engine" for growth as our Future Economy - should be the "Digital Economy".
            • • 

                ricky l

                11 seconds ago

                Where this Digital Economy should pervade every sectors of the Economy :-
                Be it :-
                (1) IT sector
                (2) Transport sector
                (3) Finance, Banking and Insurance sector
                (4) Logistics sector
                (5) Manufacturing sector
                (6) SME sector
                (7) Hospitality sector
                (8) Food and Beverage sector
                (9) Gaming sector
                (10) Healthcare sector
                (11) Aerospace sector
                (12) Construction sector
                (13) Trade, ports sector
                etc
              • • 

                  ricky l

                  2 seconds ago

                  Imagine if Digital Economy can contribute 25 to 50% in each industry sector - we can grow and replace our traditional Economy sector phenomenally - from a $400 billion GDP to $600 billion GDP.
                  
                  And create many PMETs jobs - which have been expanding from 10% to 40% - and can still expand further with Digital Economy.
                  
                  This will create many more middle income earners and top middle income earners - if Singapore succeed.
                  
                  The future for our descendants and future generations will be bright.
                • • 

                    ricky l

                    2 seconds ago

                    Our current Digital exploitation is still not deepen and expanded in scope.
                    
                    If we succeed in deepening and expanding Digital exploitation into a full-fledged Digital Economy in every sector of our Economy - our Future Growth will be very bright.