Committee of Supply 2024 debate, Day 3: Liang Eng Hwa on growing Singapore's economy

In Parliament on Friday (Mar 1), Speaker Seah Kian Peng dealt with the expenditure estimates for the Ministry of Trade and Industry (MTI). MP Liang Eng Hwa then said that growing Singapore’s economy will be more difficult and daunting in the years ahead, but that fortunately, Singapore will be responding to this from a position of strength. He also touched on three areas on how to grow Singapore’s economy moving forward, such as being a choice destination for high-value investments. He said that Singapore must continue to strengthen its manufacturing and services sectors, and that it will have to continually invest in new technologies and capabilities. Mr Liang wanted to know how the Government is ensuring that Singapore remains globally competitive and relevant, and asked how MTI plans to continue supporting enterprises to capture future growth opportunities in the region and in growth sectors such as artificial intelligence and the green economy. He also asked the Government to share more on its plans to enhance the competitiveness of the manufacturing sector, details on international collaboration efforts as well as updates on its tourism revitalisation efforts.