Economic strategies panel fleshes out issues, names heads of sub-committees
By ANNA TEO
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(SINGAPORE) Two weeks after it was formed, the Economic Strategies Committee (ESC) has carved out its work in eight areas, with one broad goal to grow Singapore 'faster than other advanced economies'.
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The 25-member panel charting Singapore's long-term future - which held its first meeting on Tuesday - fleshed out yesterday the key issues that it will be studying, and named the heads of the eight sub-committees that will lead the review.
With its big-picture aim to develop and recommend strategies to 'grow Singapore's future as a leading global city in the heart of Asia', the ESC - headed by Finance Minister Tharman Shanmugaratnam - sees four key national objectives guiding its work:
In so doing, Singapore would be able to 'provide opportunities for all', by creating 'quality jobs and real wage growth for the broad majority', and making 'continued social investments for an inclusive, upwardly mobile society'.
The sub-committee tasked with looking into growth opportunities, for instance, will, according to its terms of reference, identify growth themes 'relevant to Singapore's strengths' and propose strategies to harness capabilities to seize the growth opportunities as well as how to tap global and regional markets for synergies.
Heng Swee Keat, managing director of the Monetary Authority of Singapore, and Siemens' Asean CEO Lothar Herrmann will drive the review on growth opportunities.
But apart from the usual focus on the drivers of economic growth and encouraging enterprise, the economic blueprint this time will also look into ensuring energy reliance and maximising value from Singapore's limited land bank.
The team spearheading efforts on securing Singapore's energy resilience and sustainable growth will come up with ideas on developing a vibrant, competitive and innovative energy sector, and on preparing Singapore for a 'carbon-constrained' world.
For the sub-committee on land use, the need to optimise and prioritise usage of the scarce resource is more than apparent. They will also look into how to expand the supply of land and space in Singapore.
Details of the eight sub-committees' terms of reference are up on the ESC website (www.esc.gov.sg).
An ESC statement yesterday said that the sub-committees will rope in people from both the private and public sectors. The new names among the sub-com co-leaders, who aren't also on the 25-member main panel, are Jen Kwong Hwa, managing director of Micron Semiconductors Asia; and, from the public sector, Economic Development Board chairman Leo Yip; and A*Star chairman Lim Chuan Poh.
The ESC said that it will consult widely and solicit views from various organisations and individuals, and encouraged the public to give suggestions and feedback.
It has set a January 2010 target for announcing its key proposals, and aims to release its full report by the middle of next year.
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