Mr Heng Chee How, Guest-of-Honour & Deputy Secretary-General, NTUC;
Mr Tony Chew, Chairman, Singapore Business Federation (SBF);
Mr Leo Yip, Permanent Secretary, Ministry of Manpower (MOM);
tripartite partners, comrades, ladies and gentlemen,
Good morning.
Today, as we gather here for our annual seminar, we are again reminded of the challenges we face in the months ahead.
The slowdown in many big economies like the US, Japan, the troubled US financial markets etc, these are signs of troubled times ahead of us.
Even a small country like us is not spared from these impacts as we have an export-dependent economy. Our economy is now facing a likely slowdown this year. Ministry of Trade and Industry (MTI) had recently revised downwards its GDP forecast for the year from 4% to 6.0%, to 4% to 5.0%.
It might be further revised downwards depending on how the situation the US financial markets eventually pan out. It is a somber reminder that we live in a truly globalized and interconnected world.
Today’s theme is indeed appropriate for us. We have invited some companies and organizations to share with us their perspectives in dealing with some of these challenges.
For example, Yokogawa will share with us their initiatives in keeping their business competitive, and Bukit Timah Saddle Club will share with us on how they had better utilise their human resources through re-employment practices.
We thank all of them for spending their valuable time with us today.
So at the national level, how do we address such challenges?
We adopt the Tripartism Way.
We formed the Singapore Tripartism Forum (STF) last year among the three partners, namely the Ministry of Manpower (MOM), the National Trades Union Congress (NTUC) and the Singapore National Employers’ Federation (SNEF).
This national level platform will enable us to address some of the more complex challenges faced today and the years ahead through consultation and cooperation.
Strong tripartite cooperation has helped us conquered many issues in the past.
The stable industrial relations climate formed has attracted much needed foreign investments, enabled many businesses to flourish, and our economy to grow. Our workers had also benefited through many better quality and good paying jobs.
This mode of cooperation cannot slow down but rather, we should continue to built and enhance on it in the years to come.
And I strongly believe that as long as we stand united together, we will be able to weather any “storms” ahead of us.
And on this note, I would like to wish everyone a successful seminar.
Thank you.
