SINGAPORE : Prime Minister Lee Hsien Loong has emphasised that Singapore must keep on adjusting and adapting to change to stay ahead.

This way, the country will remain competitive, and create jobs with good pay.

Addressing a thousand unionists and delegates from the tripartite partnership at the NTUC Delegates conference on Monday, Mr Lee explained that there will be more major policies and initiatives necessary from time to time.

These include a Land Transport Review so that everyone will benefit from improvements to the public transport system.

And the Health Ministry too is working systematically to ensure good and affordable healthcare.

Mr Lee said to achieve this many initiatives are being rolled out.

One such initiative is means testing.

Mr Lee stressed that the Ministry is studying the idea carefully so that it can be implemented fairly and simply, without making hospital care unaffordable for the middle-income group.

And it will consult the unions when it has firmer ideas of what to do.

Prime Minister Lee kicked off his address by stating that the Singapore economy is doing very well.

Growth in the first half of this year was 7.6 per cent.

For the whole year, Mr Lee believes Singapore can achieve the higher end of the 7 to 8 percent forecast.

However there is a need to continue to watch for signs of trouble and one concern is the turbulence in the world financial markets.

Mr Lee said another issue is the property market in Singapore.

There is an acute shortage of prime office space because of strong growth and the government is taking steps to increase supply.

It will also inject more office space into the market over the next two to three years.

The government is also watching the residential property market and is committed to keep housing affordable for Singaporeans.

Mr Lee says the government will continue to monitor trends closely and take further action if necessary.

The aim's to make sure that the property market stays in balance over the long term.

Turning to the labour movement, Mr Lee says Singapore has a winning formula - tripartism.

He urged the movement to build on this formula, broaden its reach and deepen trust.

The result will be a better life and a better future for all Singaporeans. - CNA/ch