Friday , October 7 2022

13 new faces at the future Economic Council, Business Nevs & Top Stories


SINGAPORE – A committee displaying the direction of the Singapore economy and seeking the transformation of large industries has added 13 new faces to their ranks.

Additions, including political holders and private industry experts, have expanded the leadership team of the future economic council from 31 to 33, announced on Friday (November 16th).

They are replaced by former Ministers Lim Hng Kiang and Lim Svee Sai, the mayor of Singapore's central city, Denise Phua, and other private sector experts.

The 13 new members include the Secretary General of the Union Trade Congress and Minister in the Office of Prime Minister Ng Chee Menga; Minister for Social Development and Family Development Desmond Lee; Minister of the Prime Minister Indranee Rajah; Naniang Technological Universiti President Subra Suresh; National University of Singapore President Tan Eng Chie; Chief Executive Officer Khoo Teck Puat Chev Kvee Tiang Hospital and Accenture Singapore Executive Director Teo Lai Lim.

The new members were elected after consultations with various bodies representing the Government, trade unions, trade associations and chambers, industry and education and training institutions.

Mr. Heng said: "At the same time, we want to make sure that members can complement each other, give a new perspective, and at the same time spread the message of transformation.

The new council met for the first time on Friday at the SingPost Regional eCommerce Logistics Center at Greenvich Drive.

Mr. Heng told the media after visiting the center that national efforts to transform the industry, consisting of 23 key economic sectors from logistics to financial services, see "encouraging progress in many sectors".

"If you look at the total productivity growth last year, it was 4.5 percent, the highest that we had in seven years. This is a big change," he said.

Ms. Teo of Accenture, one of the new council members, said that the industry's rules changed because competition has become faster and more agile with technological advancements.

She said that her experience in a global consulting firm would help her to contribute advice in this regard.

A renowned member, Kenneth Loo, president of the Singapore Artist Association, said he hoped his association would bring more to the table.

Mr. Loo said: "In today's context, we can not work in silos, we have to work beyond not only within my sector, but others, so that we can transform the industry."

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