CONCLUSION

1999 is likely to be another difficult year. Despite signs of improvement in the external environment, the outlook remains uncertain.

The CSC has set out the key thrusts to help Singapore overcome the crisis and prepare for competition beyond. We must work together to implement them vigorously, but retain the flexibility to adjust our tactics if the external environment changes again. The benefits of the cost cuts will flow through to the Singapore economy and businesses this year. The key now is to grow our business revenues by expanding our export markets and sustaining investments. To underpin these key thrusts, we need to build up our economic capabilities, both in terms of infrastructure and manpower skills.

To achieve this, the workers, management and Government must all work together. Then, we will weather this difficult period, and realise our vision for Singapore as an advanced and globally competitive knowledge economy.