Singapore needs to build a more resilient ecosystem

Changes needed: People buying vegetables at the Chinatown Food Complex and Market in Singapore. As the island-state has a small and ageing workforce, it must remain open to drawing talent from the region and around the world. — Bloomberg

SINGAPORE: With more frequent global shocks and greater economic and financial volatility expected to become a regular feature of the post-pandemic world, Singapore needs to build an even more resilient networked ecosystem, says deputy prime minister Heng Swee Keat.

The republic’s economic transformation efforts thus far have put it in a better position to deal with these shocks, enabling businesses to respond and pivot in the changing operating environment through the Covid-19 pandemic, he said.