| Singapore has achieved economic
success on the basis of few advantages and despite many
limitations. We are much stronger now economically than
we were a decade ago. However, the limitations of geography
and size will not go away. Adapting nimbly to changes
in the environment and staying relevant to global demands
remain fundamental to Singapore's survival.
1996 saw growth moderating in Singapore.
In 1997, we expect a gradual recovery, in line with
a turnaround in global electronics demand. Over the
medium to long term, Singapore can expect to continue
to enjoy good growth, if we focus our efforts on staying
competitive and remaining responsive to the external
environment. The future is not guaranteed but it can
be bright.
I am optimistic that Singaporeans
can rise to the challenges of the new environment and
sustain our economic dynamism in the 21st Century as
we move up into the ranks of a developed economy. |
