Besides stewardship, enterprise is also important for Singapore: Ong Ye Kung

SINGAPORE – In the rapidly evolving global landscape marked by intense competition, Singapore must do more than simply steward what the earlier generations have built, said Coordinating Minister for Social Policies and Minister for Health Ong Ye Kung.

There is also a need for courage to do things differently, so as to build upon this inheritance and transform it into something better.

Managing this balance between stewardship and enterprise will be a key challenge for the fourth-generation political leadership, he said on Oct 9 at the closing of the

Asia Future Summit

“A failure to be enterprising to chart a new future is just as damaging as a failure to steward accumulated resources from the past,” he added.

Mr Ong’s speech and dialogue, moderated by Lianhe Zaobao editor Goh Sin Teck, wrapped up the annual conference that was held over two days from Oct 8 to 9.

The theme – Navigating A Fractured World – reflects the turbulence of today’s geopolitical flux, technological bifurcation and economic volatility.

At this juncture of Singapore’s history, the first instinct is, and should be, to avoid recklessness and to steward what earlier generations of Singaporeans have built, said Mr Ong.

But he cautioned that there is also a risk to focusing too narrowly on this.

“For every story of a new generation squandering away their inherited wealth, there is also one of atrophy, because they were so focused on protecting the past that they could not renew and keep up with the times,” he said.

He noted it is often said that complacency is the biggest threat facing Singapore today, adding that there are two types of complacency.

One is associated with hubris and the decadence of success, and empires have fallen because of that.

The other has to do with being too timid and constrained by tradition or rules, and is far more insidious, Mr Ong said.

“When we see hubris and decadence, at least we can recognise it, and we know it is wrong,” he added.

“But societal inhibition and timidity – they are dressed up as being loyal to the past, faithful to the ethos and values that led to today’s success, and therefore not to be questioned.”

The biggest challenge for the current generation of Singaporeans, therefore, is to understand how the environment has shifted and to judge what to preserve and what to change, as well as when to harness resources to seek a breakthrough, he said.

In this regard, every aspect of public policy will need to chart new paths.

Mr Ong listed certain areas in which Singapore can make breakthroughs amid the changes in the global environment and world order, including being a nexus for global supply chains, a trusted hub for decision-making, a model for sustainable development, and a crucible for innovation.

For instance, PSA and Changi Airport can maximise options and flexibility for businesses by plugging them into the vast international network of sea lanes and aviation routes, even as trade is disrupted by great power contestation, he said.

The seaport and airport function like the lungs of the economy, injecting oxygen into every sector, and this trade flow through Singapore will bring new activities, energy and dynamism, he added.

Singapore can also stand out as a trusted hub for decision-making, by offering a stable and credible environment for businesses, with rule of law, strong protection of intellectual property rights, excellent infrastructure, political stability, and access to all major global markets, he said.

Mr Ong noted that multinational companies from all over the world have located their global or regional headquarters and core functions in Singapore, where they strategise and execute global operational plans.

Being small and nimble, Singapore is agile and can quickly reposition itself when the landscape has shifted, he said.

During the dialogue after his speech, Mr Ong was asked what he sees as the greatest challenge to Singapore’s unity.

To this, he said the three things that could most threaten social cohesion are issues to do with race and religion, as well as the rich and poor, and the foreigner and local divide. He described these as the “centrifugal forces” that could pull society apart if people are not careful.

On race and religion, he said Singapore’s basic principle is equality regardless of race, language or religion.

That said, each community has a different relationship with the state because of its different culture, history and religion.

It is akin to parents loving their children equally, but acknowledging that they are not the same, he added.

“What is important is for every community to know that nobody can push to the limit. Always respect the fact that there’s a big common space; so long as we respect that, I think we have the basis of creating good race relations,” said Mr Ong.

On the divide between the rich and the poor, he said Singapore has managed to keep its Gini coefficient – which measures income inequality – down.

But he said that to prevent the divide from harming social cohesion, those who are better off must give back to society and also behave in an egalitarian way.

“We know of many tycoons and rich people who behave… like a normal Singaporean. They interact with no airs, and I think that gives a lot of people comfort. When you are high and mighty, you flaunt your wealth, that creates a very different atmosphere,” he said.

On the foreigner and local divide, Mr Ong said it has to be handled sensitively.

While Singapore is an immigrant society, “when there are too many foreigners, Singaporeans, as welcoming as we are, as embracing as we are, will become uncomfortable”.

“So we must always be careful. There is a limit,” he said.

To prevent these fault lines from dividing society, Singapore will need to strengthen the centripetal forces that keep society together.

To this end, national education, national service, and also public housing have provided platforms for people to interact, bond and forge common experiences.

The Asia Future Summit is jointly presented by SPH Media flagship titles The Straits Times, Lianhe Zaobao and The Business Times, with OCBC Bank as the presenting sponsor.