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Date [ 2016-02-24, 07:04 ]

The republic is making sure the momentum gained in productivity id not lost.

Moving towards hitech productivity. (Cr)Wiki

(Singapore=Koreanpress) Rhee Da-hee = Singapore has just celebrated its 50th birthday. It can be proud that during this period it has transformed itself from an undeveloped country into a 1st World Nation.

This success is mainly due to the government’s push for greater productivity across its economic belt. This has been done by highly improving its workforce and relevant support companies in their efforts to boost operations and productivity levels.

The government realised that when industry and corporations become collectively more productive, there is greater value and income for every hour worked, resulting in a greater contribution to the nation’s economic wealth.

Highly productive economies also attract more foreign investment, as international companies can operate effectively with less risk and lower costs. Singapore’s growth track record plays a major part in helping to keep it competitive globally.

Yet Singapore cannot afford to be complacent or rest on its laurels. Today the need to increase productivity is more urgent than ever. This is due to the challenges of the past decades, which now sees the economy growing at a slower pace, a shrinking land bank and a workforce that is expanding much more slowly.

So the emphasis has shifted once again to PRODUCTIVITY.

A report of the Economic Strategic Committee, that has been endorsed by no less a person than PM Lee Hsien Loong, states what is needed are high-skilled people, an innovative economy and turning Singapore into a distinctive global city.

It was decided that ‘Growing through Skills and Innovation would be one of the key strategies. As a first step, better and high paying jobs for the citizens would have to be created.

The recent clashes with Singapore’s foreign workers, while highlighting the social aspects, also warned there was a need to manage/reduce the dependence on low-skill foreign labour. It would be wise to support the continuous education and training of low-wage Singaporean workers, so as to improve their economical level.

The National Productivity and Continuing Education Council (NPCEC) established in April 2010 would now oversee the national effort to boost productivity and skills upgrading.

Lessons from the past show the importance of high-level, political commitment. In other words – government involvement. This will have to continue.

Other aspects would be institutional mechanisms involving all concerned parties, a combination of national movement and company-based practical consultancy which will require a degree of mindset change.

And finally, designing systems to foster private productivity management consultants. A fine example of this is the government’s team of Future Ready Singapore. They are adept at making SMEs expand and improve their market share.

The city state must be doing it right for its experts have been invited to Africa to teach such states as Botswana and Ethiopia about productivity.

abc@koreanpress.net

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