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SINGAPORE: Minister Mentor Lee Kuan Yew listed on Sunday some key attributes such as good governance and a sound judicial system that have resulted in stability and economic growth for Singapore.
Addressing some 3,500 lawyers and participants at the International Bar Association Conference, Mr Lee – a lawyer by training – also emphasised the importance of the rule of law for investors and for economic growth.
The gathering of lawyers from around the world was an apt occasion for MM Lee to reflect on what made Singapore the thriving business hub it is today.
And he touched on some themes that were dwelt upon with university students recently: The country's leaders had to create a Singapore that was different from its neighbours – a country that was cleaner, more efficient, more secure, with quality infrastructure, and good living conditions.
Mr Lee said: "Important for investors and economic growth is the rule of law, implemented through an independent judiciary, an honest and efficient police force, and effective law enforcement agencies.
"Had we not differentiated Singapore in this way, it would have languished and perished as a shrinking trading centre instead of becoming the thriving business hub it is today.
"Our laws relating to financial services are similar to the laws of leading financial centres in other common law jurisdictions such as London and New York. As these are the two leading financial centres in the world, their laws govern the majority of financial transactions worldwide. They are used freely in Singapore."
Mr Lee added Singapore also has special legislation to meet its needs, such as the Religious Harmony Act and Group Representation Constituencies to ensure minority representation in Parliament.
The minister mentor also cited three factors which enabled the Republic to escape the poverty that had plagued the region.
He said: "First, clean and efficient government; second, the character and capabilities of the leadership in charge; third, an industrious people, eager and quick to learn to be productive and gainfully employed.
"Political leaders in Singapore take action against opponents who make statements against them that impute dishonesty and lack of integrity. Situated in a region where 'money politics' is part of the political culture and an accepted way of life, any allegation of corruption in Singapore must be taken seriously.
"It leads to an investigation by the CPIB (Corrupt Practices Investigation Bureau) and an action for defamation against the person making the allegation to clear any doubts on the integrity of the government. As a result, people in Singapore do not equate their political leaders with second-hand car salesmen."
Despite international endorsement of the achievements Singapore has scored in building up the nation, Mr Lee stressed there is no room for complacency.
He said Singapore has to respond to new challenges that technology and globalisation have brought about.
Mr Lee also stressed the importance of maintaining Singapore's position as a city par excellence, with an environment that is clean, safe and vibrant to work and live in.
During the question-and-answer session, the minister mentor was asked how he would measure Singapore's successes.
He said: "I do not measure myself by the yardsticks of Amnesty International or Freedom House or Reporters Without Frontiers. I measure myself by the objectives of governance of my people. What must the government do? It must establish a system where there is peace, stability and opportunities for everybody to live a full life, which means good health, good housing, good jobs, good education, good hospitals.
"There is nothing which you want to read that you cannot read in Singapore. Everybody is on the Internet, everybody has got broadband, you have got cable television, access to all the information, you can blog, you can do anything you like."
- CNA/so
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