Iswaran: Government will take ‘two-prong approach' to generate growth and create job opportunities

Second Minister for Trade and Industry S. Iswaran pointed out that as the baby boomer generation retires and as fewer young people enter the workforce, Singapore's labour-force will contract within eight years; at the same time Singaporeans will receive higher levels of education and aspire to take on different types of jobs. These trends indicate that it will be tougher for us to achieve economic growth in the future. To meet the aspirations of the current as well as future generations of Singaporeans, Singapore needs to keep growing. However growth should not be the objective, instead it should be the tool to create opportunities. Minister Iswaran was speaking with 200 economics students and faculty from SMU, NUS, NTU last night at the fifth MTI Economic Dialogue, organised by SMU.