\n<\/p>\n
In his speech, Mr Wong also highlighted three priorities for this term of government.<\/p>\n
The first priority, he said, is to secure Singapore\u2019s place in a changed world.<\/p>\n
With \u201cdeep structural shifts\u201d towards protectionism, economic nationalism and a \u201cmight is right\u201d approach\u201d, the survival and success of small open economies like Singapore will be affected.<\/p>\n
Singapore cannot afford to \u201csit back and hope that things will somehow just fall in place\u201d, but \u201cmust make things happen\u201d.<\/p>\n
This is why every minister and ministry must step up their international engagements.<\/p>\n
\u201cI too have to travel, and I am spending time visiting and building relationships with my counterparts,\u201d he said.<\/p>\n
While these overseas efforts may seem abstract and remote, they matter deeply to Singaporeans\u2019 livelihoods and future, he said.<\/p>\n
\u201cBecause they open real doors for our businesses to expand, for Singaporeans to have new opportunities, and importantly, for Singapore to secure the space we need to thrive in a more uncertain and contested world.\u201d<\/p>\n
Another priority is to keep Singapore\u2019s economy competitive and strong.<\/p>\n
\u201cAs the global economy begins to fragment, companies are rewiring their supply chains, shifting trade routes as well as flows of capital,\u201d he said.<\/p>\n
\u201cWe have to make sure Singapore stays at the centre of these new flows, and not get bypassed by them.\u201d<\/p>\n
He added that amidst these shifts, new opportunities will emerge, and to seize them, the government must be ready to question old assumptions, refresh its thinking and update its policies.<\/p>\n
He said that restructuring and transformation is never easy, and there will be downsizing and even retrenchments in some areas must be accepted.<\/p>\n
But this is not necessarily a sign of failure, but part of the renewal cycle of a healthy and vibrant economy.<\/p>\n
\u201cOur job as a government is not to stop change, but to help people ride through it \u2013 to give them the skills, support and confidence to seize new opportunities, and ensure that no one is left behind,\u201d he said.\u00a0<\/p>\n
To this end, the Singapore Economic Resilience Taskforce led by Deputy PM Gan Kim Yong is working towards a set of recommendations by early next year, said Mr Wong.<\/p>\n
“I look forward to receiving them. Government will give our response in Budget 2026.”<\/p>\n
Finally, Mr Wong said the government’s third priority is to provide assurance and support, and to keep society strong and united.<\/p>\n
Policies are being reviewed in all the key areas, especially in education, healthcare, housing and retirement.<\/p>\n
\u201cUltimately, all these efforts are about one thing: enabling every Singaporean to look to the future with confidence,\u201d he said.<\/p>\n
\u201cWe will keep strengthening our safety nets, so that whatever your background or circumstance, you do not have to walk this journey alone, the PAP will always have your back.\u201d\u00a0<\/p>\n<\/div>\n