Singapore's main source of economic growth is from companies raising productivity: SM Lee

Senior Minister Lee Hsien Loong said Singapore's main source of economic growth is from companies raising productivity. That's as growing the size of its workforce is limited, with the low birth rate and controlled flow of immigration. He urged firms to transform themselves by upgrading the workforce, creating new opportunities and developing new markets. SM Lee was speaking at an appreciation dinner held for him, hosted by the Singapore Business Federation. He added that Singapore will be doing quite well if growth can be sustained at around 2% to 3% annually.