On the 11th September 2015, Singapore held General Election deciding how the city-state will be governed for the next 5 years. The People’s Action Party (PAP) sought the peoples’ mandate to take Singapore beyond SG50 into its next half century while The Workers’ Party (WP) was running with the campaign theme “Empower your Future”.
With over 11,000 European companies present in the city-state, political developments are critical for the business community. In particular, industries are concerned about the business climate, immigration, and manpower regulatory issues as a consequence of the election outcome. How do we discern the GE2015 results? What does it mean for Singapore vis-a-vis the hot-button issues? How do we see leadership succession at the highest levels proceeding?
Although the globalised and diversified economy of Singapore depends heavily on trade and foreign exchange, the Prime Minister Mr Lee Hsien Loong already announced adjustments to the policies, a slowdown of the inflow of foreign workers and a strengthening of permanent residency and citizenship applications. How will this context impact on the reputation of Singapore to be the “easiest place to do business” and what are the key changes the business leaders should be aware of?
EuroCham provided his members with a special post-election session gathering panelists Professor Eugene Tan, Associate Professor of law at the School of Law, SMU and Co-Director of the SMU Centre for Scholars’ Development, and Mr Mark Canning, Senior Adviser at Bell Pottinger, former British Ambassador to Indonesia and former British Permanent Representative to the ASEAN.
The discussion was moderated by Mr Victor Mills, the CEO of Singapore International Chamber of Commerce.
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