May Day message is of cautious optimism amid fears of prolonged crisis
| By Sue-Ann Chia, Senior Political Correspondent | ||
 |  | ST FILE PHOTO |
In broad strokes, he painted a picture of the various features and efforts being made that will lead the country to better days.
However, his May Day message of cautious optimism, released on Thursday, is now tinged with some uncertainty as the swine flu outbreak threatens to further worsen the global economic crisis.
But even without it, the journey to recovery will not be short.
Said Mr Lee: 'We must prepare for a prolonged difficult period and continue to build capabilities for the future.
'But we have reason to be quietly confident. Our economy has important strengths.'
These are: sound banks, competitive industries, flexible wage systems, many good jobs still available, workers getting skills to stay employable and the country's substantial reserves funding anti-recession programmes.
'Few countries are in as secure a position as Singapore,' said Mr Lee.
In addition, Singaporeans can expect more job-creating projects beyond the two integrated resorts, he said, citing the International Cruise Terminal, Asia's first River Safari in Mandai and Gardens by the Bay, a park in the Marina Bay area.
He also highlighted the continuing growth of Singapore's external wing, as businesses expand their network of export markets.
Read the full story in The Straits Times today.
But he is confident Singapore's wide network of free trade pacts with its major trading partners will 'prove invaluable'.
He also called on workers and employers to do their part. Workers should re-skill and accept jobs even if these are not a first choice, while employers should retrench only as a last resort, he said.
Noting the angry protests by workers in many countries as the slump deepens, he said: 'These outbursts are understandable but unfortunately they do not make things better.'
On the other hand, the response here has been 'rational and constructive', which he credited to unions, employers and the Government working together to find practical solutions.
'It is helping Singapore to stand out from other countries, enhancing our reputation and bringing in more investments and jobs,' he said.
Looking beyond the dark clouds, Mr Lee made a rallying call to Singaporeans: 'We must use this crisis to prepare for a different, more competitive world when the storm passes.
'We must build resilience in a new generation of Singaporeans, and strengthen their bonds with a new team of leaders.
'Most of all, we must unite as a nation, keep our calm, unflinching spirit and emerge stronger from the crisis.'
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