Helping companies transform more important than 'big red packet': DPM Teo

Helping companies transform more important than 'big red packet': DPM Teo

Channel NewsAsia·2018-02-19 02:05

DPM Teo Chee Hean, SCCC Chairman Chua Thian Poh, Minister for Culture, Community and Youth Grace Fu and Second Minister for Manpower and Foreign Affairs Josephine Teo at Spring Reception 2018. (Photo: Singapore Chinese Cultural Centre/Singapore Federation of Chinese Clan Associations)

SINGAPORE: Singapore must continue to prepare for the future by helping businesses transform and strengthening the nation's social support system, Deputy Prime Minister Teo Chee Hean said on Sunday (Feb 18).

Noting that Finance Minister Heng Swee Keat will be releasing the Government’s Budget on Monday, Mr Teo said in a Mandarin speech: "Although everyone hopes for a 'big red packet', what is more important is how we continue to partner our trade associations and unions to help companies transform and develop new technologies such as in the digital economy. 

"We will also help our workers to raise their knowledge and skills needed for the jobs of the future."

Speaking at Spring Reception 2018, an annual Chinese New Year celebration at the Singapore Chinese Cultural Centre, Mr Teo added that Singaporeans need to "continue to look after each other, and create the best opportunities for our people to succeed".

"The Government will continue to help Singaporeans start families, own homes faster, raise children and take good care of our seniors," he said.

Singapore citizens are healthier and living longer, he added, pointing out that the number of citizens aged 80 and above will more than double - from nearly 100,000 today to about 200,000 by 2030.

"Healthcare is one area where we will continue to support with more resources, and help our seniors lead active lifestyles. We need to ensure government finances remain sustainable and are able to provide for our future needs."

Mr Teo, who is also the Coordinating Minister for National Security, was speaking to about 900 guests including Cabinet Ministers, Members of Parliament, diplomats and leaders of the Chinese community.

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