Motion: Ng Shi Xuan on an economy of the future that works for all

Singapore firms do not grow in isolation, and leading global companies in the country contribute more than investment and direct employment. Their regional management, technical and procurement functions can connect local enterprises to sophisticated demand, new technologies, international standards and global supply chains. These connections do not arise automatically, and that is where industry associations and consortia can play a much larger role with networking and resources. MP Ng Shi Xuan made these points in parliament on Wednesday (Aug 5). He said the deeper question is not how many global companies Singapore attracts or how many local small- and medium-sized enterprises it supports. It is whether they interact in ways that build lasting capabilities.