Making Singaporeans hungry to learn, strive and achieve

IN 1965, Singapore's nominal gross domestic product (GDP) per capita was around US$500, similar to that of Africa at the time. Fast forward 50 years, in 2015, our GDP per capita multiplied more than 100-fold to US$53,000, making us the sixth richest people in the world. It's no cliché to repeat how miraculous our transformation has been, for a little red dot that packs in only 5.5 million residents. As we look to the next 50 years, how will we continue to punch above our weight? In what ways will future Singapore be a better place than this one, and how do we make this possible?

I'm part of the Committee on the Future Economy's Sub-Committee on the Future City. We have been discussing how Singapore can continue to develop its infrastructure and people to support growth in an inclusive and sustainable manner. Singapore's economic vibrancy rests on the nation's ability to secure its position as a city of choice for individuals and businesses.

In this 719 square kilometres of land , we have always had to look beyond our city to grow. Other than maintaining our status as a finance, maritime and aviation hub, we continue to leverage our regional trade links and market connectivity to attract and retain investors. Our competitive advantage is being a critical node in a larger regional network. We have to continue to create scalability through collaborations with our neighbours. If you look at Asean, which Singapore is a member of, the collective would be the seventh largest economy in the world if it were a single economy. Many of the emerging Asean economies are touted to have tremendous untapped growth potential. In this regard, Singapore has a major stake in seeing that macroeconomic stability is maintained in Asean and regional interconnectivity continues to be strengthened.