Singapore may look very well developed, nevertheless, the government still proposes to build quite a few large-scale infrastructure developments in the following 10 years to more strengthen and advanced the economy, stated the Straits Times in a report.
“Singapore might be a very small, little red dot; a few of you could have the impression that we are by now very developed. Nonetheless, in fact, we are not yet finished building Singapore up till now. We have not touched and reached our physical greatest extent,” said Mr. Lawrence Wong. the Minister for National Development.
Mr. Wong started this to some viewers of around 600 people from over 40 nations joining the Singapore Regional Business Forum held at the Ritz-Carlton recently.
“The infrastructure that we’re pushing in will consist of quite a few major pieces. For instance, we will be constructing a new Terminal 5 that will make twice of everything that you see in extensive Changi Airport today.”
As well as building a new Tuas mega-port in Singapore’s western area that will make twice the size of current seaports, there are also strategic plans to improve the city-state’s relations with the region, together with the rail joining with Malaysia.
“There is a great deal of work for us to do, nevertheless we must have an assurance that we can make it happen. If you check out our history in Singapore, we have not ever failed in reorganizing our economy earlier,” Mr. Wong added.
In the meantime, Mr. Wong exposed that the government completely takes care of BRI (Beijing’s Belt and Road Initiative) as long as Singapore businesses are “natural partners” for Chinese firms thinking of growing into the ASEAN (Association of Southeast Asian Nation) region.
Particularly, the foremost topic of this year’s forum is the great chances and opportunities soaring from the BRI. On the other hand, a study specially organized by the event coordinator, the Singapore Business Federation, demonstrates that there is a mist of hesitation over this determined project.
As a matter of fact, 45.3% of the 77 ASEAN’s honored business leaders evaluated in June said their firm “is not certain about what the opportunity may be at this point”.
“The deficiency of vagueness and detail is a big challenge for the companies who are involved in investing and want to assess the opportunities bestowed by the BRI,” noted in a report by the Economist Corporate Network.