3. Report of the Committee on the Future Economy – Analysing Big Data

To implement the recommendations proposed by the Committee on the Future Economy, we need to strengthen our repository of information and big data analytical resources.

This is to ensure that our policy-development and decision-making processes are underpinned by relevant, accurate and up-to-date information.

In a fast-changing world, there is a need to set up environmental scanning and intelligence gathering systems on a global basis.

It will help us predict economic and business trends; preempt opportunities; achieve first-mover advantages; and move up the food and value chain.

To secure our future, we need to constantly improve our infrastructure and implement major market and structural reforms so as to reduce economic uncertainty and reinvigorate current level of growth.

These reforms are not just about developing new markets, businesses, and opportunities for growth. They are also about helping our local enterprises to continue to be competitive and be transformed into global players.

Our local enterprises need to move up the innovation curve and the food and value chain.

They need to focus on value creation and not just on value addition and become market makers rather than price takers.

If Singapore plan and play our game well, we can be one of the fulcrums of a Neo-Renaissance Age.

We can become one of the most livable and lovable cities in the new world, a city fill with dream-chasers, value-multipliers, game-changers, and world-beaters.

Go4It!

I hope this message will find a place in your heart.

By the way, I have also recorded other reflections.

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Please read my reflections and continue to teach me.

Life is FUNtastic!