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Remarks by Deputy Prime Minister, Coordinating Minister for Economic Policies, Minister for Finance and Chairman of Future Economy Council Heng Swee Keat

30 April 2021

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Preamble

  1. Since the launch of the Industry Transformation Maps in 2016, our economic transformation efforts have achieved good results.

  2. The COVID-19 pandemic, which started last year, has plunged the world into the crisis of a generation.

  3. Even as we were dealing with the crisis last year, we were also focusing on the structural shifts in the global economy, and exploring how all of us can emerge stronger from this crisis.

  4. We start the new term of the Future Economy Council at this very critical juncture.

  5. We held the first FEC meeting of the new term today.

ITM 2025

  1. The FEC’s focus in the coming year is on ITM 2025.

  2. What are the key priorities for this next phase?

  3. First, we will integrate our economic transformation efforts more closely with research and innovation.

  4. Second, ITM 2025 will incorporate the recommendations of the Emerging Stronger Taskforce, or EST.

  5. Third, ITM 2025 will have a greater focus on jobs and skills, to enable our people to reach their fullest potential.

Conclusion

  1. Let me conclude.

  2. Thank you.

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