Forging Ahead To A Great Future

by Patrick Liew on February 6, 2017

Looking ahead, the only certainty is uncertainty. Unpredictability will be part of the landscape.

However, uncertainty is not an enemy. Unpredictability is not a foe.

In times of unpredictability and uncertainty, many economies are adopting austerity measures and taking a cautious approach.

This is an opportune time for Singapore to rise up, capitalize on the silver lining in every dark cloud, and leapfrog over competing economies to forge a brighter future.

From being a regional entrepôt, we can reposition ourselves to become a global spoke and hub, a major router for trade and commerce, including e-commence in the new economy.

We can redesign our economic model and reengineer our infrastructure, capacity and capability to capitalize on the centrifugal and centripetal forces of global value chains.

In the future, whenever a business or a consumer buys or sells anything from one country to another, and even if the goods and services do not physically go through Singapore, we can have a stake in the transaction.

We can extract values, including financial profits from the transaction.

Singapore will become like a high value-added toll gate of international trade and commerce.

What needs to be done is to retrain our local enterprises, entrepreneurs and workforce to spread their wings overseas and position themselves as essential switching centers to facilitate exchange of not just products and services but also ideas, knowledge, talents, technology, and expertise.

We need to reinvent proprietary products and services to help us move up the innovation curve, and food and value chains.

In doing so, we refocus on value creation and not just on value addition, and become a market maker rather than a price taker.


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

By the way, I have also recorded other reflections.

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