Good that the CFE Report has been released. Finally after the delay due to the unexpected and unwelcome hawkish, and sometimes perplexing, election of President Trump! What with his anti-trade stance and nationalistic 'Americans First' chest beating cries!
On the 7 “mutually-reinforcing” strategies for Singapore to stay ahead outlined in the report, some input from me are:
i) Deepen and diversify our international connections
This would entail Singapore boosting trade and investments by developing specific bilateral initiatives, working closely with multilateral institutions. The recommendation of forming a global Innovation Alliance to link tertiary institutions and companies link up with overseas partners was also raised.
LU: while it will be better for the business people to make these links, it invariably will depend on HOW GOOD is the gov-to-gov relationship! To this end, it is my sincere hope that Sgp gov will be BETTER at handling the relationship with PRC and that the 'mistakes' in the handling of the Teerex Tanks recently MUST NEVER happened again.
ii) Acquire and utilise deep skills
It was noted that both the public and private sectors ought to work towards hiring workers based on their skills and not just academic achievements, job matching also needed to be improved, and more study and training programmes rolled out to allow workers to acquire new skills.
LU: some skills are universal and fundamental. e.g. effective interaction/communication/problems solving while some are specific and technical e.g. robotics 1 => 2 => => Nth!
If we ONLY want to produce WORKERS quickly- blue- or white- or gold-collar, then just teach the students the UNIVERSAL and FUNDAMENTAL skills at schools. By 18 years old, they should be ready to work in their SPECIFIC industry getting the 'specific and technical skills' from the companies!!
We have to be careful that we don't CREATE a BILLION dollar training industry REPEATING what could have already being COVERED by our 'world class educational system'!!
Also, to make sure that WDA-linked entities and personnel are NOT fronting the billion dollar 'training' industry!! PLEASE MAKE SURE OF THESE.
iii) Strengthen enterprise capabilities to innovate and scale up
The committee recommended strengthening the Intellectual Property (IP) ecosystem, better supporting entrepreneurs by creating new business opportunities and raising the profile of local start-ups. Introducing simpler regulations and incentive schemes were also suggested.
LU: again INNOVATION must come from the enterprises themselves! ONLY GLCs/TLCs/NTUC-LCs can benefit from this 'innovation by decree' approach as they are BASICALLY operating in a 'protected environment' for those in the defence, transportation, properties development and supermarket businesses! YES? WHY did SMRT and ComfortDelgro NOT seize on the 'hailing a tax' app? Why let Uber and Grab GRABBED their businesses? Simple, they have too much to lose! This is especially so for SMRT with that million dollar paid Group CEO who got paid MORE than the Group CEO of ComfortDelgro, a company that is MUCH bigger and MUCH MORE international than SMRT!!
As for HELPING local start-ups to raise their profile, this is totally do-able by the government. In a tiny little red dot of ours. Can we compete with Alibaba? Tencent? Netease? etc in PRC, hopefully, eventually.
iv) Build strong digital capabilities
It was noted that expertise in the areas of cybersecurity and data analytics needed to be built up, as these were high-potential growth industries. For this, it was suggested that the Government partner key industry partners. The authorities were also urged to come up with flexible regulations to enable the adoption of technology as well as to help Small and Medium Enterprises (SMEs) adopt digital technologies.
LU: This is clear for all to see. Robotics, AI, Big Data, Cybersecurity, drones, etc. Surely the government saw it coming. Surely it could have influenced, and it probably HAD, our WORLD ranking universities to focus on these SPECIALISED technical skills and courses. WHAT happened? Many of the top global companies were lured here. e.g. Lucas firm, Autodesk, IBM (e-government, e-city, etc), Salesforce, Google (search is using Big Data analytic right? algorithms development right?), etc. WHAT HAPPENED? no local talents to LEARN these QUICKLY?
OR Fintech!! Can we imagined AliPay and WeChat Pay been introduced in Sgp by Singapore companies? How can companies that are NOT banks be allowed to dabble in 'cash transactions' and 'having cash balances in their mobile phone accounts'?
Why is that ONLY in recent years that DBS, OCBC and UOB starts pushing e-banking? MAS over-controlled? or we don't like to TAKE RISKS?
v) Develop a vibrant and connected city of opportunity
The committee shared that Singapore should strive to strengthen its status of being a global aviation and shipping hub, that it should leverage on the future Singapore-Kuala Lumpur high-speed rail, enhance its digital connectivity and create multiple clusters of innovation. Additionally, that the Government ought to partner the private sector to transform Orchard Road.
LU: Vibrant or not depends on if others want to deal with Sgp still. This may link to the strategic point No. 1 above. Of course, when the entrepreneurs themselves initiate these connections, it will be even MORE powerful! As for Orchard Road? More shopping and MORE expensive rental? LOL!!
vi) Develop and implement Industry Transformation Maps ("ITMs)
It was noted that industry-specific transformation maps should continually be customised to meet the needs of that particular industry. There was also the recommendation to group the various industries into clusters, so that the transformation of one industry will have positive spill-over effects on others. The roadmaps should also outline where opportunities lie in each of the various sectors. Further, the roadmaps should also entail strategies aimed at helping industries that require large numbers of low-skilled workers.
LU: This is SPECIFIC. Good. Once the ITMs are MAPPED, I hope the industry concerned MOVE FASTER and with FULL DETERMINATION before the macro-environment change again in 3-5 years time! This is a moving target and yet to truly benefit, it means the execution has to be DOUBLY FAST!
vii) Partner one another to enable growth and innovation
The Government needs to encourage an environment that supports innovation and risk-taking both in the public and private sectors. It also suggested that the Singapore tax system be reviewed. The committee also called for trade associations and unions to help workers and play their part in industry development.
LU: On the PUBLIC side, I DOUBT very much if this will EVER be happened judging by the recent exhortation by Minister Ong Ye Kun that Sgp has a better chance of success with a One-Party rule! When mindset at the TOP of the TOP Level think like that, it is very hard for anyone who advocate: "Embrace Diversity and Encourage Inclusion" to be successful. As for the PRIVATE side, if we have LESS GLCs, TLCs and NTUC-LCs and LESS real estate developers' lobby, maybe it is possible. Oh, the mindset of 'less is more' that is unpopular with the 'growth is the only way forward' school will not see the lights too though I always wonder: why should a nation with a lower and low cost of living be bad?
Thank you and all the best to the implementation of what had been cast in stones. And hopefully Newer and Bolder ideas will emerge later and continuously.
On the 7 “mutually-reinforcing” strategies for Singapore to stay ahead outlined in the report, some input from me are:
i) Deepen and diversify our international connections
This would entail Singapore boosting trade and investments by developing specific bilateral initiatives, working closely with multilateral institutions. The recommendation of forming a global Innovation Alliance to link tertiary institutions and companies link up with overseas partners was also raised.
LU: while it will be better for the business people to make these links, it invariably will depend on HOW GOOD is the gov-to-gov relationship! To this end, it is my sincere hope that Sgp gov will be BETTER at handling the relationship with PRC and that the 'mistakes' in the handling of the Teerex Tanks recently MUST NEVER happened again.
ii) Acquire and utilise deep skills
It was noted that both the public and private sectors ought to work towards hiring workers based on their skills and not just academic achievements, job matching also needed to be improved, and more study and training programmes rolled out to allow workers to acquire new skills.
LU: some skills are universal and fundamental. e.g. effective interaction/communication/problems solving while some are specific and technical e.g. robotics 1 => 2 => => Nth!
If we ONLY want to produce WORKERS quickly- blue- or white- or gold-collar, then just teach the students the UNIVERSAL and FUNDAMENTAL skills at schools. By 18 years old, they should be ready to work in their SPECIFIC industry getting the 'specific and technical skills' from the companies!!
We have to be careful that we don't CREATE a BILLION dollar training industry REPEATING what could have already being COVERED by our 'world class educational system'!!
Also, to make sure that WDA-linked entities and personnel are NOT fronting the billion dollar 'training' industry!! PLEASE MAKE SURE OF THESE.
iii) Strengthen enterprise capabilities to innovate and scale up
The committee recommended strengthening the Intellectual Property (IP) ecosystem, better supporting entrepreneurs by creating new business opportunities and raising the profile of local start-ups. Introducing simpler regulations and incentive schemes were also suggested.
LU: again INNOVATION must come from the enterprises themselves! ONLY GLCs/TLCs/NTUC-LCs can benefit from this 'innovation by decree' approach as they are BASICALLY operating in a 'protected environment' for those in the defence, transportation, properties development and supermarket businesses! YES? WHY did SMRT and ComfortDelgro NOT seize on the 'hailing a tax' app? Why let Uber and Grab GRABBED their businesses? Simple, they have too much to lose! This is especially so for SMRT with that million dollar paid Group CEO who got paid MORE than the Group CEO of ComfortDelgro, a company that is MUCH bigger and MUCH MORE international than SMRT!!
As for HELPING local start-ups to raise their profile, this is totally do-able by the government. In a tiny little red dot of ours. Can we compete with Alibaba? Tencent? Netease? etc in PRC, hopefully, eventually.
iv) Build strong digital capabilities
It was noted that expertise in the areas of cybersecurity and data analytics needed to be built up, as these were high-potential growth industries. For this, it was suggested that the Government partner key industry partners. The authorities were also urged to come up with flexible regulations to enable the adoption of technology as well as to help Small and Medium Enterprises (SMEs) adopt digital technologies.
LU: This is clear for all to see. Robotics, AI, Big Data, Cybersecurity, drones, etc. Surely the government saw it coming. Surely it could have influenced, and it probably HAD, our WORLD ranking universities to focus on these SPECIALISED technical skills and courses. WHAT happened? Many of the top global companies were lured here. e.g. Lucas firm, Autodesk, IBM (e-government, e-city, etc), Salesforce, Google (search is using Big Data analytic right? algorithms development right?), etc. WHAT HAPPENED? no local talents to LEARN these QUICKLY?
OR Fintech!! Can we imagined AliPay and WeChat Pay been introduced in Sgp by Singapore companies? How can companies that are NOT banks be allowed to dabble in 'cash transactions' and 'having cash balances in their mobile phone accounts'?
Why is that ONLY in recent years that DBS, OCBC and UOB starts pushing e-banking? MAS over-controlled? or we don't like to TAKE RISKS?
v) Develop a vibrant and connected city of opportunity
The committee shared that Singapore should strive to strengthen its status of being a global aviation and shipping hub, that it should leverage on the future Singapore-Kuala Lumpur high-speed rail, enhance its digital connectivity and create multiple clusters of innovation. Additionally, that the Government ought to partner the private sector to transform Orchard Road.
LU: Vibrant or not depends on if others want to deal with Sgp still. This may link to the strategic point No. 1 above. Of course, when the entrepreneurs themselves initiate these connections, it will be even MORE powerful! As for Orchard Road? More shopping and MORE expensive rental? LOL!!
vi) Develop and implement Industry Transformation Maps ("ITMs)
It was noted that industry-specific transformation maps should continually be customised to meet the needs of that particular industry. There was also the recommendation to group the various industries into clusters, so that the transformation of one industry will have positive spill-over effects on others. The roadmaps should also outline where opportunities lie in each of the various sectors. Further, the roadmaps should also entail strategies aimed at helping industries that require large numbers of low-skilled workers.
LU: This is SPECIFIC. Good. Once the ITMs are MAPPED, I hope the industry concerned MOVE FASTER and with FULL DETERMINATION before the macro-environment change again in 3-5 years time! This is a moving target and yet to truly benefit, it means the execution has to be DOUBLY FAST!
vii) Partner one another to enable growth and innovation
The Government needs to encourage an environment that supports innovation and risk-taking both in the public and private sectors. It also suggested that the Singapore tax system be reviewed. The committee also called for trade associations and unions to help workers and play their part in industry development.
LU: On the PUBLIC side, I DOUBT very much if this will EVER be happened judging by the recent exhortation by Minister Ong Ye Kun that Sgp has a better chance of success with a One-Party rule! When mindset at the TOP of the TOP Level think like that, it is very hard for anyone who advocate: "Embrace Diversity and Encourage Inclusion" to be successful. As for the PRIVATE side, if we have LESS GLCs, TLCs and NTUC-LCs and LESS real estate developers' lobby, maybe it is possible. Oh, the mindset of 'less is more' that is unpopular with the 'growth is the only way forward' school will not see the lights too though I always wonder: why should a nation with a lower and low cost of living be bad?
Thank you and all the best to the implementation of what had been cast in stones. And hopefully Newer and Bolder ideas will emerge later and continuously.
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