Gan Kim Yong discusses Singapore's economic strategy and workforce support

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Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong addressed the Economic Society of Singapore's 70th anniversary dinner on August 27, outlining a shift in the nation’s economic strategy to prioritize quality employment alongside technological growth. The speech followed parliamentary debates initiated by the Workers' Party regarding an inclusive future economy, prompting a focus on managing the labor market impact of artificial intelligence and automation. Gan emphasized that Singapore must transition from a model of simple openness to one of strategic relevance, integrating AI to enhance worker productivity while proactively building career bridges for roles vulnerable to technological disruption.

Consequences

The government is expected to intensify collaboration between employers, unions, and training institutions to align educational programs with real-time job market requirements. Policies will likely focus on increasing the productivity and wages of non-AI sectors, such as healthcare and skilled trades, to prevent potential job displacement caused by automation.

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