This is a landmark year for Singapore, as the country celebrates “SG60” — the 60th anniversary, or the Diamond Jubilee, of its independence — and those two letters and two digits encompass a new roadmap of social and political unity and economic growth in the face of global headwinds.
In their recent statements, Singapore Prime Minister Lawrence Wong and veteran Indian-origin Cabinet minister K Shanmugam have spoken of the achievements of Singapore and the challenges facing the country, as it enters a new phase.
PM Wong said that Singapore in 2024 remained “a beacon of safety, security and stability in a troubled world”, and its “economy grew by 4.0%, exceeding expectations”.
Minister for Home Affairs and Minister for Law K Shanmugam, a Cabinet minister for more than 16 years now, said that “the question” for the 4G leadership of Singapore was “economic relevance”, as the country needed to compete in the global economy with the “bright, hard-working, hungry” people of India and China.
Team Singapore spirit for 2025 and beyond
PM Wong, who is also the finance minister, will deliver his first budget speech this February as the head of state of Singapore, following the leadership transition last year. In his New Year message, he outlined what Singapore had succeeded in doing in 2024 and what it must do in 2025.
The prime minister praised “the Team Singapore spirit” and said that it must be carried “into 2025 and beyond”.
In the very first sentence of his 2025 New Year message, PM Wong went straight to the point: “2024 has been another eventful and turbulent year.”
Then, after briefly touching upon “geopolitical tensions” and “a deep sense of angst and anxiety about the future” among people in many parts of the world, PM Wong said: “Singapore is not immune from these global mood shifts and pressures. But amidst the turmoil and uncertainties, we have been able to distinguish ourselves. We remain a beacon of safety, security and stability in a troubled world. Our students continue to excel and learn, our businesses innovate and expand, and our workers adapt and embrace new opportunities in an ever-changing landscape.”
We learnt from our setbacks, pursued improvements, and continued to give our best to serve all Singaporeans. That is how we have consistently overcome obstacles — with solidarity and unity.
Singapore Prime Minister and Finance Minister Lawrence Wong
Listing some of the achievements of Singapore in the past year, such as aviation sector recovery, cost of living management, and sporting successes, PM Wong said, “The collective efforts of Team Singapore made all the difference, be it overcoming crises, supporting one another in times of need, or striving for excellence on the global stage.”
He continued, “We must carry this Team Singapore spirit into 2025 and beyond. That was why we embarked on the Forward Singapore exercise — to renew our social compact and strengthen our solidarity, so we can navigate uncertainties confidently as one united people.”
In his closing remarks, PM Wong said, “2025 marks the 60th anniversary of Singapore’s independence. While there is occasion to celebrate, this milestone is really a time for reflection — on our shared values, who we are, and what we stand for. Importantly, it is an opportunity to envision how we can shape our future together.”
Singapore is “a small boat in a big ocean” with hurricanes
On the same subject of the future of Singapore, minister K Shanmugam spoke just before the end of year at Naam Ras Kirtan Darbar. A report by The Straits Times described this as “a cultural event celebrating Sikh history and tradition held at the Singapore Expo between Dec 26 and 29”.
Shanmugam, who spoke on the last day of the event, spoke of the high labour costs in Singapore and what the shortage of affordable labour meant for the SME (small and medium enterprises) sector of Singapore.
In order to attract investment, Singapore would have to take into account the competition from Asian neighbours China and India, with vast populations, said the minister.
Those of you who have been to India and China will know hundreds of millions of people — bright, hard-working, hungry — they can do everything that we can do. So the question for [the] 4G [leadership] is going to be economic relevance.
Singapore Minister for Home Affairs and Minister for Law K Shanmugam
He said that the 4G leadership of Singapore had been thinking about these challenges, and that solutions would have to be found within the next 5 to 10 years.
Acknowledging the strengths of Singapore — housing, healthcare, education and employment — he referred to serious global challenges, e.g. the Russia-Ukraine conflict and the Israel-Hamas conflict, and trade friction between the United States and China, that could impact Singapore.
Singapore, said Shanmugam, was “a small boat in a big ocean”; and in this ocean, there were “a lot of hurricanes and heavy winds”, ST reported.
The task before the 4G leadership in SG60 is ensuring extremely skilled navigation in these dangerous waters.
