Good afternoon, friends, ladies and gentlemen.
I am very happy to join you at this Scholarship Presentation for children of our General Branch members. I also thank Ms. Diana Chia and the Selection Committee for their work.
This is the 7th year that we are presenting these awards. The recipients this time are children of our General Branch Members from 19 affiliated unions. 98 students will receive a total of $24,800 in awards. At the same time, 51 children will receive NTUC Education Grants totaling $5,100.
We all know that times are hard. Demand in our export markets in the US, Europe, Japan and the Region are all weak or slowing. This means that orders for our goods are not steady or may be getting smaller. It also means that we have to compete much harder against everyone else in the world to sell our goods. If our companies cannot get orders or sell what they make, they will cut production. Cutting production leads to less pay, retrenchment and unemployment for workers.
We do not like to be in such a situation because it is painful. To get out of it is not easy, but we must try. Doing nothing is even worse. What can we do as a country to make our goods sell better? There are basically three ways.
First, make our price of goods more attractive than others. This is why the Government has made many moves, such as rebates, to help companies reduce their costs of production. The idea is to help as many companies as possible stay open, so that as many workers as possible can save their jobs.
Second, make our quality of goods better than others. Better quality does not come out of nowhere. It comes from good management, well-trained and capable workers, and right use of technology. If we do not upgrade but other countries do, we will fall behind. They will sell their goods and we will be stuck. Their people will have jobs and we will lose ours. This is the reality.
Third, make our goods enter the export markets more easily, with lower taxes. If we can do that, our goods will sell better, and Singaporeans will benefit in having more jobs and better earnings. This is why the Government has been working hard on Free Trade Agreements with countries like Australia, New Zealand, the US, Mexico, Japan, China, South Korea and others. These expressways will help get us out of trouble earlier.
And what can we do to help retrenched workers and Singaporeans affected by pay cuts and hardship deal with their situation? There are 3 main ways.
First, help employed workers understand the situation. Help them upgrade their skills and capability continuously. This will help their companies do better in international competition. This will help keep their jobs, and minimize overall retrenchment and unemployment. As the saying goes, "If you are not part of the problem, you are part of the solution". This is why NTUC has been championing training and skills upgrading all these years.
Second, help retrenched and unemployed workers retrain for new work. Then help as they search for new work. There is no point crying over split milk. The faster that retrenched and unemployed workers can adjust and move on to new work in new areas, the faster they will spare themselves the pain and anxiety. The longer they stay unemployed, the less attractive they will become to employers. This is why NTUC set up NTUC JobLink. It is to help workers find new shelter from the storm as quickly as possible, rather than stay out and get soaked in the rain.
Third, help Singaporeans cope with the cost of living. With earning money becoming harder in these times, NTUC Co-operatives like FairPrice supermarkets and others, have helped Singaporeans save on expenses by giving rebates and discounts of more than $50 million over the past 1.5 years. When NTUC Co-operatives do that, other businesses are also encouraged to do more for the consumer. With NTUC Co-operatives voluntarily taking the lead in this area, Singaporeans have had more breathing space.
I am saying all these to make the point that the times we live in are not going to be plain sailing. If anyone of us, whether we 6-year-old or 60-year-old, think that we can just coast along and things will naturally get better from year to year, we are bluffing ourselves and will regret it.
At the same time, there is no need for us to be scared and lose hope. Sure, we all know that we have to work hard and work smart to overcome our difficulties. But we also know that we are not depending only on luck to save us. We are continuously investing in our people, adjusting our systems and building more and stronger bridges and expressways to the export markets.
Every person, young and old, must help himself by understanding the picture and improving on his education, skills and capability. That way, he makes himself more attractive as a worker now or in the future, and his company more competitive in the market. That is the best investment for job security and better prospects.
To our award recipients, I hope you will make meaningful use of the scholarships and grants. Your parents, the Union and Singapore have high hopes in you. Be strong. Be determined. Do us proud.
