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Chan Chun Seng: Singapore firing on all cylinders to attract MNCs

I welcome Chan’s statement, however, I want to sound a word of caution.

Many older Singaporeans might still remember that in the 80s, many disk drive manufacturers such as Seagate, Micropolis, Maxtor, Conner Peripherals and Western Digital etc set up bases in Singapore and created many thousands of jobs for our people and bus loads of Malaysian operators came in daily to work at those factories too.

Foreign direct investments (FDIs) is a valuable source of capital injections into our economy, however, I want to warn that we must never be too greedy and bite off more than we can chew because that may resulted in MNCs that we have so painstakingly wooed leave Singapore bitter and disappointed because of the pap government’s aggressive wavings and with mouths bigger than our substance, so to speak.

We must be highly selective with the type of investments that we want and are right for Singapore and not all and sundry. We must play to our strength and our competitive advantages such as our financial hub status, our educated workforce, our industrial peace, our pro-business policies and our strong public and private collaborations etc.

If, for example, MNCs, after having chosen Singapore as their production base find that they are having much difficulties recruiting suitable people on a regular basis, not only will that affect their operations save for recruiting foreigners, that must surely taint our reputation as well.

I would liken it to a father who regularly buys home sumptuous supper but his children and his parents are unable to eat them because they are always too spicy and those good suppers are always thrown away. Likewise, we want to mutually get the maximum mileage out of our FDIs. We don’t want to throw away our FDIs.

Next, our polytechnics and our universities must work very closely with our industries and our government agencies such as the Economic Development Board to train and teach our students the relevant skills and knowledge in order to be able to find good jobs that these FDIs bring.

Human resources is our only resources and we can ill afford anymore skill mismatch like we are seeing so often these days in our drive to digitalise.

Skill mismatch is a big policy failure of the lhl government but unfortunately, too many fellow citizens simply fail to understand enough their serious implications and its dire consequences.
Think.

 

Simon Lim

 

 

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13 Responses to “Chan Chun Seng: Singapore firing on all cylinders to attract MNCs”

  • Please lah:

    “I would liken it to a father who regularly buys home sumptuous supper but his children and his parents are unable to eat them because they are always too spicy and those good suppers are always thrown away.”

    People please stop comparing the gov to a father. So disgusting. The gov is a servant.

    This is a better way to compare:
    I would liken it to a servant who takes lots of our money and anyhow buys home sumptuous supper but his master and family are unable to eat them because they are always too spicy and those good suppers are always ended up consumed by the servant and his friends.

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  • Kee Chiu:

    If you think you are very smart KEE CHIU !

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  • Tremendous:

    Firing all cylinders means he declares that he will step down if he cannot bring in $1000 for every $1 under his headcount opex by year end. Otherwise, he is just lying through his teeth again.

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  • Pioneer remembers:

    I remember in late 60s n early 70s texas instruments,rollei,ge,nat semiconductors,fairchild,sperry rand,Phillips,electromagnetic or ems
    What happen to all them
    I understand goh keng swee had to create jobs ,British pullout,they all had to do what they can,trouble is we rush things thru without thinking,
    Here people do things without thinking deeply,pigfarms,veg growers in Bradell all had to go,all these were rushed thru,
    No proper planning,
    Many people especially the 61 pct think govt is like a demigod they are not
    We got papersmart but not practical people,
    One leong man wai or Jamus lim worth ten paper gen gan or chan cs
    Min wage lead to no wage,mdm gan keep that to yrself,we don’t appreciate jokeslike that,lots hot air ,empty no substance

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  • MarBowling:

    So far, this World Class Minister hasn’t FAILED to INSPIRE the business folks in SinKapore with his USUAL GREAT SPEECH and COMMENTS! The business folks amongst the 61.24% should be sleeping like babies at night knowing they have a BRILLIANT and $MART World Class Minister to THINK, PLAN AND TAKE GOOD CARE OF THEIR BUSINESS AND NEEDS! CCS, Chia Yu!

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  • Wave two balls for eye-service:

    So we have two systems in one country: “We” the third most transparent sheeple nation globally & “them” – the 4th most corrupt crony-capitalists in the world….. so the chamber wants to fire up for which $$$ system? Creaking granny and young people going to labor today for $6/hr…. hardly $1300/mth oi.

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  • liew mun leong must be jailed:

    Skill mismatch is a big policy failure of the lhl government but unfortunately, too many fellow citizens simply fail to understand enough their serious implications and its dire consequences.

    how not to mismatch when nus ntu smu are filled with ceca ah nehs.

    these folks, if any good, would have remained in ah neh land to make it world class.

    they leave because they are just all talk and cannot survive in ah neh land since everyone talks better than the next one.

    in early 1980s, then nus was already filled to the brim with ceca ah nehs. all talking with an accent that was impossible to miss.

    IS it any wonder why local born nus ntu smu graduates today are jobless before even hitting 45?

    YET surprise. they all vote pap who cause them the misery with fake nus ntu smu rankings which do not translate into employment which practically all go to the ceca ah neh clan village members.

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  • Harder Trtuhs:

    $G is a consumer nation, built on 40 years of expanding a consumer mentality (including real estate). The banks and other financial institutions are heavily invested in lending to these sectors. Loss of revenue is occurring as each sector is accruing losses.

    $G was initially an industrial and manufacturing hub, producing goods that the region needed. This was before China came into the picture. This model was not able ot compete with the industrail might of China late in the 1970′s.

    $G’s only REAL source of positive revenue (not the bloated made-up government-set land prices and service costs) is the oil trade. This has collapsed, The government is artificially trying to stimulate the rest of the economy with handouts and monetary props. This debt will be reclaimed from the citizens – so people should not be so happy with all the spending that they will have to pay for soon.

    Since the 60′s there has been no attempt to re-structure the economy set by Dr Winsemius. The system still tires to function on a tired old outmoded outdated economic model that has now collapsed.

    The only thing the government can do is pretend things will get back to normal and keep taxing the people more and more. Bringing in more foreigners gives banks and financial institutions a lifeline to recoup losses, at the expense of locals’ jobs and livelihoods.

    The real FT who are worth brining in will not want to stay in such abysmal conditions. As there are no shortage of foreigners, they will simply be replaced with worse unqualified third world rejects.
    As jobs flow out of $G citizens will have to follow the jobs to survive.

    Coupled with jobless and desperate people both local and foreign, $G will be another Asian third world city.

    Team Despot do not know how to deal with the economy or how to fix it. It is full of yes-men run by a mini-emperor. There will be no recovery to what $G was before the pandemic.

    A desperate regime will only tighten its hold on its citizens. Trace-Together, social credit scores, digital currency – these will appear suddenly to make sure the population is kept confined to the way the government wants the population to behave.

    $G citizens will soon realise they are in a prison of their own making, like the USSR or Mao’s China. Do not expect people like CCS to do anything for you.

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  • kopi-o:

    This guy is firing nonsense.
    We have had MNCs here before.
    The TEXAS INSTRUMENTS, ROLLEI, ETC BUT DID WE MAKE USE OF THE TRANSFER OF TECHNOLIGY then?

    The $AME MI$TAKE will occur.

    Look at CHINA, a former outsource centre for american MNCs and how GIANT PANDA woke up from its slumber and developed their own *SMEs* into GIANTS?
    CHINA WAS WAY BEHIND SG N HAD TO SEND THEIR TOP BRAINS TO SG TO UNDERSTUDY sgs at our factories, our banks and other areas.
    And, they are now ahead if us!

    CCS, DONT TALK BIG,DO BIG IS BETTER.
    FIRST, CUT YOUR SALARY TO LIGHTEN BURDEN OF sgporean-taxpayers.
    Learn from DR GOH KENG SWEE.

    1G WAS CHEAP BUT GOOD, REALLY GOOD!
    2G WAS SO-SO.
    3G WAS/IS THE START OF THE SINGAPORE DEBACLE AFTER 1G MIRACLE???

    4G?
    HOPEFULLY, NO DOOM.

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  • kopi-o:

    hahaha! Is his *cylinder* still able to *fire*???

    Lose cannon!

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  • Bluff People:

    Kee Chiu So clever! Reuse growth strategy from 1970s so don’t have to think so hard. No point firing on all cylinders if you use a lousy fuel. 4G leeders are like Grade 92 petrol in a Maclaren.

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  • Soccerbetting2:

    Reported on Straits Times :Quote -”S’pore to import electricity from Malaysia in pilot trial over 2 years

    Minister for Trade and Industry Chan Chun Sing said Singapore aims to achieve 1.5 gigawatt-peak (GWp) of solar deployment by 2025.PHOTO: ST FILE

    Audrey Tan
    Science and Environment Correspondent
    PUBLISHED8 HOURS AGO
    FACEBOOKWHATSAPP
    SINGAPORE – The little red dot wants a greener energy mix, and is taking multiple steps to achieve this – from an electricity import pilot with Malaysia to soaking up more sunshine at home and investing in research on emerging low-carbon technologies.

    Minister for Trade and Industry Chan Chun Sing on Monday (Oct 26) laid out the steps that Singapore will take to be a “bright green spark” for the world – a place where ideas and applications can be an inspiration and help to create more sustainable and higher quality living environments.

    As part of its plans, Singapore hopes to tap green energy from around the region through regional power grids. The groundwork for this will be laid through an electricity import pilot with Malaysia over two years.

    “We will be kicking this off with 100 megawatts of electricity imports over a trial period of two years,” said Mr Chan. This will make up about 1.5 per cent of Singapore’s peak electricity demand.

    “This (trial) can help us to access clean energy from regional countries and improve our energy resilience. We have been working closely with Malaysia and are thankful for their strong support,” Mr Chan said in his opening remarks at the Singapore International Energy Week, a week-long energy conference.

    The Energy Market Authority (EMA), an agency under Mr Chan’s ministry, plans to issue a request for proposal by March next year. Electricity imports could begin as early as end-2021, via the existing electricity interconnector between Singapore and Malaysia…..”Unquote .

    Response : Singapore buy electricity from Malaysia for what ? Again want to spend more public funds under infrastructure to siphon off more public money away ? Even got Australia businessmen to spend money installing undersea high voltage cable to pipe long distance solar electricity to sell electricity to Singapore ? What ? Is it to save beast Hyflux Olivia Lum from bankruptcy jetting up electricity prices for all of us to pay in all these processes coming soon so that companies will be interested in Hyflux and buy over $3,000,000,000 of Hyflux debts ? If Singapore has any shortage of electricity,it should not even buy electricity from Malaysia . On the long term ,it should use all the islands like sister island,kusu island,lazarus island,pulau tekong,.. to install solar electricity and pipe undersea high voltage back to Singapore or install wind mills to tap electricity .So many options,still need to buy electricity from Malaysia or Australia for what ?

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  • humkachan is a humkachan:

    A humkachan will always be a humkachan doing what he does to be a humkachan ie lies n licks whatever bnc come offering him not goh misus peanut but gorilla hamburger. his leak of crisis dependent survival is just an arrogant humkachan dosplay to cover up his own badly smeared face after doing the best thing he can do. eavesdropped at a lopitiam conversation that he was the .shame of Oxbrigeans as many of the seniors at the KC ms to feel dgrossly ashamed of their alma matar for such rubbish!

    切记切记!人渣是人类之渣不可能变的!你们说呢?

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