Prof Lily Kong, President, Singapore Management University

 

Dr David Ong, Chairman, Singapore Mentorship Committee

 

Your Excellencies

 

Ladies and gentlemen,

 

Introduction

 

1 Good morning. It is my pleasure to be back at SMU today at the inaugural Singapore Management University – Singapore Mentorship Committee (SMU-SMC) Leadership Symposium.

 

2 This year is special as we celebrate two significant milestones: Singapore’s 60^th birthday and SMU’s silver jubilee[1]. It is fitting that we use this occasion to mark the launch of the first SMU-SMC Global-Ready e-book, titled “Becoming Global Ready”.

 

3 This compilation of personal stories from leaders and mentors across cultures and industries truly reflects their wisdom and collective experiences, and inspires global-ready mindsets and skill sets in our youth. Thank you Professor Lily Kong, SMU, Dr David Ong and his wife, and SMC. Most of our co-authors are here and I want to say a big thank you to them (Dr Yoke Sin Chong, Ms Jane Sun, Mr Andre Andonian, Mr Scott Beaumont, Mr Walter De Oude, Mr Chaney Ho, Mr Lee Yi Shyan, Mr Per Magnusson, Mr Gregory Vijayendran, Mr Kevin Wo) for pulling this together.

 

4 The theme of today’s symposium, “Fostering Global-Ready Changemakers”, is both timely and relevant.

 

We live in a complex time of disruption and uncertainty. We face increasing geopolitical and economic changes, as well as rapid technological advances, such as those in AI and robotics. One of our biggest challenges is: How do we, a little red dot, stay globally competitive and relevant on the global stage? At the same time, how do we nurture global-ready Singaporeans, raring and eager to seize the future? 

 

Being Global-Ready Matters

 

5 Singapore is a small and open economy, deeply connected to global markets. In Singapore, being small means that stakeholders from the public and private sector get to work closely together. Even as we celebrate SG60, we cannot afford to rest on our laurels. From time to time, we will undertake fundamental reviews to chart our economic future and ensure we are global-ready.

 

a. In the past decades, the Government has convened the Committee of the Future Economy in 2016 and the Economic Strategies Committee in 2009.

 

b. More recently, just two months ago, Deputy Prime Minister Gan Kim Yong announced the Economic Strategy Review (ESR) to chart an economic blueprint that will strengthen Singapore’s global competitiveness, economic resilience and secure good opportunities for businesses based here, and workers including Singaporeans.

 

c. This effort is guided by five committees, each focusing on critical areas including Global Competitiveness, Technology and Innovation, Entrepreneurship, Human Capital and Managing the Impact of Restructuring. Acting Minister Jeffrey Siow and I are co-chairs of the Global Competitiveness Committee, which aims to do three things.  One, strengthen Singapore’s competitive advantage, ensuring that we continue as a compelling destination for new investments, not just from US, Europe and Japan, but from the rest of the world. How do we future-proof our economy and create better jobs for Singaporeans? We will also support the development of Singapore enterprises in becoming global champions. We are prepared to review some of the existing tools and programmes by agencies such as Enterprise Singapore, EDB, or JTC. Third, we will enhance Singapore’s position as a global hub, where goods, services and data can flow through. We have been having meaningful conversations with a broad spectrum of stakeholders, including industry leaders, captains of industries, business leaders, entrepreneurs, founders, labour unions, and academics.

 

Nurturing Global-Ready Learners and Responsible Global Citizens

 

6 Amidst our conversations is a recurrent theme to work together to futureproof our youth to prepare them to navigate the near-term uncertainties and be ready for the future. Allow me to share three simple key attributes that global-ready changemakers must have. They are, in three ‘A’s: Aware, Adaptable and Action-oriented.

 

7 First, global-ready changemakers must have a high level of consciousness and be highly aware of the operating environment to thrive in the world. In this respect, the Singapore Government has been working closely with our IHLs to invest in our youth to equip them with opportunities for global exposure and experiential learning. They gain a heightened sense of global awareness through regional and international assignments. For example, when I was serving in MOE from 2015 to 2020, I was working alongside 30,000 educators in Singapore, including the educators in IHLs. That was the period the Government made a commitment that by 2020, we would have rolled out enhanced internships, where every student must join a sector, whether in Singapore or overseas. This allows the student to understand and apply what they learn to real life situations and problems.

 

a. For instance, we have many short-term, overseas assignments or curated learning journeys that has given Singaporeans and our youths exposure to different markets, cultures, and business models.

 

i. The Overseas Market Immersion Programme (OMIP) is one such programme. It supports companies looking to expand overseas and sends Singaporean professionals on valuable overseas work stints. We hope industry leaders and business leaders will work with Enterprise Singapore and EDB on some of these programmes to give our students more opportunities for local and overseas stints in your companies.

 

ii. SMU has been a trailblazer in this regard. Since 2018, SMU has made global exposure a graduation requirement, ensuring that all students build cultural competence and broaden their perspectives. This really takes courage as it means the SMU team has to work very hard to forge partnerships with companies, both local and foreign, to ensure they can secure places overseas for every SMU graduate. This pioneering move reflects SMU’s commitment to developing globally minded graduates who can thrive in any part of the world. I commend Prof Lily Kong and SMU for this wonderful effort.

 

8 Second, global-ready changemakers must be adaptable. According to the World Economic Forum, by 2025, 50% of all employees will need reskilling due to technological advancements. We will continue to make investments to ensure our workforce has the skills necessary to adapt and succeed in the evolving digital economy. Minister Josephine Teo shared with the media today that 18.6% of our GDP is in the digital economy which has created more than 214,000 jobs.

 

a. To that end, I want to assure you that the Singapore Government will continue to work closely with and support tripartite partners as well as education and training institutions including SMU, as we develop a Continuing Education and Training system responsive to the needs of companies based here and Singaporeans. We want to enable Singaporeans with varied training needs and proficiency levels to acquire industry-relevant skills and market-ready exposure. For example, employers can leverage the Productivity Solutions Grant for support in redesigning existing work processes and job roles affected by automation, as well as reskilling their workforce who may be at risk of displacement.

 

b. We will continue to invest in SkillsFutureto help our workforce navigate disruption. It is not easy, and many will have to venture out of their comfort zones at different life stages. Rest assured, in Singapore, we do it together. The Singapore Government will spare no effort to support our graduates and workers in gaining industry-relevant skills and experience for a better future.

 

9 Third, global-ready changemakers must be Action-oriented. Do not worry about setback, because there is no playbook that will guarantee 100% success, but have the courage to take the first step and take the charge to lead change. The world is looking for leaders who can influence and inspire, guide their teams on effective strategies and play an active role in shaping society and give back.

 

a. I am heartened that SMU’s students are proactively engaging the world and society. The SMU-X programme gives students a chance to engage with the industry through experiential learning. The programme’s overseas extension, SMU-XO, allows students to navigate and address complex issues in the global interconnected world.

 

10 The Government will continue to support companies that wish to develop Singaporean workers via leadership milestone programmes. For example, the Global Business Leaders Programme (GBLP) was launched in 2024 to help companies build a stronger pipeline of Singaporean business leaders with overseas work experience and access to a network of industry mentors. This will strengthen our corporate leadership bench and position more Singaporeans to vie for regional and global C-suite roles.

 

Value of Mentorship

 

11 An effective leader’s success is not just about individual skills, but also about having good mentors. We have therefore invested in platforms like the Singapore Leaders Network (SGLN) to intentionally connect aspiring global leaders with experienced mentors and senior leaders in other countries. I am happy to hear that SMC in a short span of time, now has 5,000 individuals, half are mentors and half are mentees. I urge everyone to spread the word to more friends, so that we can grow it 10 times or even more. These networks provide a dynamic support system, offer candid advice, and, most importantly, create a culture of "sponsorship," where senior leaders actively advocate for emerging talent and open doors to new opportunities.

 

12 I am glad to note that since its inception last year, the SMU-SMC Club has benefitted more than 300 students through its mentoring programmes and workshops.

 

a. The Global Ready Mentorship Program (GRMP) is a standout initiative. Over the course of six months, students work closely with three mentors from diverse industries, gaining tailored guidance and diverse perspectives.

 

b. The Transcendence Workshop Series equips students with practical skills, including personal branding, networking, and cross-cultural communication, which are essential for today’s global environment.

 

13 The Government also recognises the importance of mentoring. We launched Mentoring SG in 2022 as part of the ForwardSG exercise, which brought together the government, companies, schools, mentoring organisations, and individuals like yourselves. We hope to instil a healthy culture of mentoring and also make mentors more accessible to young people.

 

14 Even as we continue to develop our individual skills and competencies, let us also remember the importance of paying it forward. As we benefit from the guidance of mentors today, let us also aspire to be mentors for others in the future. You are never too young to mentor someone.

 

Conclusion

 

15 Let me once again congratulate SMU and the Singapore Mentorship Committee for organising this inaugural symposium. I am confident this gathering will spark meaningful connections and valuable insights, and very importantly, inspire our students to grow into the global-ready change-makers that Singapore and the world will need in the years ahead.

 

16 I wish all of you a fruitful and enriching symposium. Thank you!