THIS WEEK’S TOPIC: What longer-term issues should Singapore’s 2020 Budget address?
One of the hallmarks of Singapore’s success is its commitment to plan for the future. Against this backdrop, there are three areas which Budget 2020 should address with a long-term perspective:
1) Better urban planning – As the population increases, the government needs to look into areas such as housing, pollution, traffic congestion and infrastructure. One praiseworthy initiative is that Singapore has set a target to have 80 per cent of its buildings with the BCA Green Mark certification by 2030.
2) Stronger global competitiveness – In October 2019, Singapore was ranked the world’s most competitive nation by the World Economic Forum’s Global Competitiveness Report. it is important that Singapore maintains this edge by introducing policies that are pro-business and innovation-centric.
3) Deeper Asean Integration – With a combined population of 640 million people, Asean holds tremendous economic opportunities for the world. By integrating deeper with our Asean neighbours in areas such as connectivity, fintech and sectoral cooperation, we would unlock even more potential for our country and Singaporeans as a whole.
To view my thoughts on Business Times, visit this link: https://www.linkedin.com/pulse/build-future-mario-singh/
