ESCAPE OF MAS SELAMAT KASTARI

ESCAPE OF MAS SELAMAT KASTARI:

(Impact on investor confidence and Singapore's reputation): 8.

Mr Low Thia Khiang asked the Minister for Trade and Industry whether

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investor confidence and the international reputation of Singapore have been affected by the escape of Mas Selamat.

The Minister for Trade and Industry (Mr Lim Hng Kiang): Mr Speaker, Sir, the Mas Selamat issue has not been raised as a concern in EDB’s interactions with existing and potential investors. Investor confidence in Singapore has been built up over time, based on our successful track record of getting things done.

While the Mas Selamat's escape is a serious security lapse, analysts, such as the Political and Economic Risk Consultancy (PERC), are confident that the Singapore Government and its institutions will learn valuable lessons from this and change the way we do things.

Mr Low Thia Khiang (Hougang): Sir, I would like to ask the Minister whether his Ministry has assessed the impact on the economy due to the tightened CIQ operations. Besides this, has the Ministry also looked into the possibility of the potential loss of confidence that the investors and the international community will have on us as the escape of Mas Selamat is something which they do not expect to happen in Singapore?

Mr Lim Hng Kiang: Mr Speaker, Sir, as I mentioned in my reply earlier, EDB has not received any feedback from both potential and existing investors that the Mas Selamat episode will have a major impact on the investment interest in Singapore.

As for the impact on the economy, because of the security checks at the Causeway and other areas, this is an on-going operation. It does have an impact but we will have to watch as it goes along.