Lee Hong Chuang
Singapore
“] Because this Bill has identified an important key point: if Singapore is to continue as an international financial centre, it cannot rely solely on its past strengths, nor simply on "the stability we have always had." Stability is important, but markets also need vitality.”
“By enhancing product registration, strengthening compliance mechanisms and encouraging continuous improvements in energy systems, the Bill helps ensure that energy efficiency standards are applied more consistently across industries.”
“Mr Speaker, I would like to pose my supplementary question in Mandarin. (In Mandarin): [Please refer to Vernacular Speech.] Singapore is highly dependent on energy import.”
“Chairman, with 30% of Singapore barely above sea level, climate change threatens our home. Beyond enhancing our infrastructure, we must recognise the vital role of civic society and youth in climate resiliency.”
“First, I want to thank Senior Minister of State Low for sharing what they are going to do for SMEs, in particular, from availability to making it easier to access in future. But I thought I just wanted to ask this supplementary question in Mandarin, as it is more for the Chinese-speaking SMEs.”
“I understand that defence spending needs to be stable, because capability building cannot change year by year. But we also face pressures from an ageing population and increasing social expenditure. Minister, under the premise of fiscal sustainability, how does MINDEF clearly explain long-term planning and prioritisation to Parliament?”
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“Third, our own experience show that external shocks can spread rapidly. Helping others stabilise their economy reduces the spillover risks that could otherwise reach our shores. Today, many low-income countries face the combined pressures of high debt, weak growth and limited fiscal space. Without concessional financing, they have to be forced into shortcuts to essential services or disorder defaults, creating broader financial and social instability. The PGRT is a vital tool to prevent such outcomes and to safeguard international financial stability. Mr Deputy Speaker, this Motion reflects a long-term strategic judgement rather than a short-term gesture. Like in Mandarin, they say, "共同发展才能长久繁荣". Only through shared development that lasting prosperity can be achieved. For this reason, I support the Motion.”
“This helps countries stabilise their macroeconomics condition, protect essential social spending and undertaking necessary reforms, preventing local crisis from escalating into systematic ones. Seen this way, support from the PRGT is not simply about aid. It is a form of early risk prevention. Mr Deputy Speaker, some may ask why this support should be channelled through IMF and the PRGT. The answer lies in the strength of the mechanism. IMF programmes are grounded in rigorous assessment, clear policy conditions and strong monitoring, ensuring that funds are used to restore stability and confidence. The IMF also has the expertise and ability to mobilise resources quickly and coordinate internationally, and essential capability during cross-border crisis. Importantly, the concessional nature of the PRGT allowed low-income countries to stabilise their economics without sacrificing basic healthcare, education or social needs. Supporting the PRGT is also consistent with Singapore's long-standing commitment to a rules-based multilateral system. As a small state, we understand the value of clear rules, accountability and predictable frameworks. Our approach to international cooperation has always emphasised effectiveness, responsibility and systematic impact. This contribution reflects those principles. It is understandable that some Singaporeans may ask why we should support efforts overseas when there are domestic needs. There are three points I would like to mention here. First, our contribution is measured and controlled, and its impact is amplified through a multilateral framework. Second, this is not a zero-sum choice. External stability directly supports Singapore's economic resiliency and employment.”
“First, our contribution is measured and controlled, and its impact is amplified through a multilateral framework. Second, this is not a zero-sum choice, external stability directly supports Singapore's economic resilience, investment and employment. Third, our own experience shows that external shocks can spread rapidly. Helping others stabilise their economies reduces the spillover risks that could otherwise reach our shores. Mr Deputy Speaker, today, many low-income countries face the combined pressures of high debt, weak growth and limited fiscal space. Without concessional financing, they may be forced into sharp cuts to essential services or disorderly defaults, creating broader financial and social instability. The PRGT is a vital tool to prevent such outcomes and to safeguard international financial stability by helping countries to stabilise their fundamentals at the most difficult times. (In English): Mr Deputy Speaker, in English, please. At its core, this Motion is not merely about an overseas financial commitment. It is about the kind of global partners Singapore choose to be in an increasingly uncertain and volatile world. Singapore is a small, open economy. Our prosperity depends on global stability, open trade and a resilient international financial system. When low-income countries are hit by shocks, whether from pandemic climate events, debt distress or conflict, the effects do not remain local. They spill across borders through disrupted supply chain, financial volatility and regional instability. These risks ultimately affect jobs, investment and confidence here in Singapore. The PRGT plays a critical role by providing timely and concessional financing to vulnerable economics at the onset of crisis.”
“This helps countries stabilise their macroeconomic conditions, protect essential social spending and undertake necessary reforms, preventing local crises from escalating into systemic ones. Seen this way, support for the PRGT is not simply aid; it is a form of early risk prevention. Mr Deputy Speaker, some may ask why this support should be channelled through the IMF and the PRGT. The answer lies in the strength of the mechanism. IMF programmes are grounded in rigorous assessment, clear policy conditions and strong monitoring, ensuring that funds are used to restore stability and confidence. Meanwhile, IMF also has ability to mobilise resources quickly and coordinate internationally, an essential capability during cross-border crises. In addressing international balance of payments and financial crises, IMF's expertise enables relevant arrangement can be implemented under stress. The concessional nature of the PRGT allows low-income countries to stabilise their economies without sacrificing people's basic needs. Mr Deputy Speaker, supporting the PRGT is also consistent with Singapore's long-standing commitment to a rules-based multilateral system. As a small state, we understand the value of clear rules. They make things predictable and allow small nations to have space and sense of security in the system. Our approach to international cooperation has always emphasised effectiveness, responsibility and systemic impact. Supporting PRGT reflects those principles. Of course, we must also address domestic concerns. It is understandable that some Singaporeans may ask why we should support efforts overseas when there are domestic needs. There are three points I would like to mention.”
“Mr Deputy Speaker. I will begin my speech in Mandarin, followed by English. There is a great philosopher Mencius who once said, "大舍前,齐天下". What it means is, "When successful, help the whole world." It means that once you have strength or prosperity, you should assist others. The underlying philosophy is that prosperity should lead to long-term stability, including for oneself. (In Mandarin): [Please refer to Vernacular Speech.] Mr Deputy Speaker, I support the motion to provide grant to IMF's Poverty Reduction and Growth Trust (PRGT). At its core, this motion is not merely about an overseas financial commitment. It is about the kind of global partner Singapore chooses to be in an increasingly uncertain and volatile world. On the surface, this is resource support; at a deeper level, it reflects how we view risks, and how Singapore positions itself in an uncertain environment. I believe that supporting the PRGT is sound in principle, necessary in overall assessment, restrained and measured in the use of public funds and aligns with Singapore's long-standing position of supporting multilateral systems and international cooperation. Singapore is a small, open economy. Our prosperity depends on global stability, open trade and a resilient international financial system. When low-income countries are hit by shocks, whether from pandemics, climate events, debt distress or conflict, the effects do not remain local. They spill across borders through disrupted supply chains, financial volatility and regional instability. These risks can come fast, ultimately affecting jobs, investment and confidence here in Singapore, especially for SMEs. The PRGT plays a critical role by providing timely and concessional financing to vulnerable economies at the onset of crisis.”
“Managing some of our future challenges. As sports and activities diversify, demand for facilities, programmes and coaches will increase. Thus, I propose: one, a clear, outcomes-based resource framework to maximise social impact; two, stronger cross-sector collaboration among schools, community clubs, sports bodies and even private partners to share resources effectively; three, targeted and phased expansion of high-growth activities with strong public health benefits, starting with pilots and scaling based on outcome. There are also some long-term considerations that we need to take note. One, how resource allocation can expand without weakening existing community sports. Two, whether resources should grow in line with long-term public health goals or not just reallocated. Three, how new standards can be set without imposing excessive burdens on smaller organisations. In conclusion, Mr Speaker, this Bill does not just update legislation; it lays a stronger foundation for Singapore's sports ecosystem. As in any sports, progress comes step by step, through consistent effort. This Bill may not immediately produce champions tomorrow, but it will help more Singaporeans become healthier, happier and more confident. For these reasons, I support the Bill.”
“As a former national gymnast, I experienced firsthand how sports build not just physical skill, but discipline, focus, resiliency and sportsmanship. These values stayed with me for life and continue to shape who I am today. Sports connects generations and communities. Whether in community clubs, parks or schools, sport builds energy, inclusion and a shared sense of purpose across age and background. Key enhancements in the Bill: one, updating the definition of "sports". The Bill formally includes mind sports and e-sports. These activities, like traditional sports, require strategy, focus, endurance and teamwork. Including them allows for better governance and support, ensuring healthy and responsible development while recognising changing participation patterns. Two, expanding the Council's role to include physical activity. Activities, such as yoga, fitness training, aerobics and running, are increasingly popular and contribute significantly to physical and mental well-being. Including these activities affirms their public value and provides a clearer framework to promote active lifestyles across communities. Three, raising safety and quality through standards. The Bill empowers the Council to set standards for coaches, facilities and equipment, improving safety and quality. At the same time, standards must be proportionate and inclusive, so that small sports organisations, community clubs and grassroots coaches are not overburdened or, worse, excluded. Four, strengthening athlete development pathways. Athlete development requires coordinated and sustained support, from schools to community, then to national systems. The amendments provide clearer institutional support for training providers and smoother pathways for young athletes to develop their potential.”
“Third, conduct "precision expansion" for programmes that show obvious growth and have long-term benefits for public health. For example, family fitness activities, mind sports and some rapidly growing new programmes can start with small-scale pilots, then gradually expand based on effectiveness. Resource expansion cannot be blind, but requires precise and detailed planning, ensuring every new investment truly benefits more Singaporeans. At the same time, I would like to propose three considerations for the Government in long-term sports resource planning: First, as programmes continue to increase, how should resource allocation be based on a national outcomes framework to avoid weakening support for existing community sports? Second, if sporting demand continues to rise, will the Government appropriately expand resources based on long-term public health goals, rather than just redistributing within existing resources? Third, when establishing new standards, how can we ensure standards are reasonable and would not burden small organisations excessively, excluding them from the sports ecosystem? Mr Speaker, this amendment not only improves the system, but also establishes a more solid foundation for our country's sports ecosystem. Gymnastics training taught me that step by step, with continuous effort, we can create real change. This amendment may not immediately produce champions, but it can help more Singaporeans become healthier, happier and more confident in the sporting ecosystem we are building. (In English): Mr Speaker, this Bill strengthens our national sports framework, making it more comprehensive and future-ready. It better reflects our Singaporeans of all ages' participation in sports and physical activity today.”
“They are often important entry points for children, elderly people and beginners to access sports, and are an indispensable part of the sports ecosystem. True team spirit means giving everyone opportunities, not leaving people behind. When establishing standards, listening widely to opinions and ensuring standards are appropriate can promote the healthy development of the entire sports ecosystem. Fourth, the amendment further strengthens the institutional foundation for athlete development. Athlete development requires systematic cultivation and stable support, including connections between school, community and national-level training systems. The revision allows the Council to more clearly support training institutions, and makes different training pathways smoother, giving more young people with potential opportunities for continued development. Fifth, we must also face the resource allocation challenges we may encounter. As sporting forms continue to increase, demand for facilities, programmes and coaching resources will also rise accordingly. Facing these potential challenges, I propose three suggestions: First, establish a clear outcome-oriented resource framework, prioritising resources in areas that can bring the greatest social benefits. When resources are limited, we must ensure every investment produces maximum public value. Second, strengthen inter-agency cooperation. Schools, community clubs, sports institutions and businesses have different resources and venues. If we can better share and coordinate, we can benefit more residents without significantly increasing budgets. When resources can be shared, sports can go further and reach more people.”
“Including these activities in the definition of "sport" allows the Sports Council to more systematically and purposefully support and manage these developments, ensuring they grow on a healthy and safe trajectory. This also reminds us that the value of sports should not be measured only in traditional ways. As long as the direction is right, mind sports and e-sports can, like traditional sports, help participants build confidence, discipline and team spirit. Second, the amendment expands the Sports Council's functions to formally include physical activities within its scope. More residents are participating in physical activities such as yoga, strength training, fitness classes and running. These activities improve physical and mental health and also create more interaction between neighbours. Including physical activities in the Council's responsibilities means the Government recognises the public value of these activities and provides a clearer framework for promoting community fitness programmes in the future. This will further promote a culture of "Active together", making exercise a lifestyle that more residents can easily and sustainably participate in. Third, the amendment empowers the Council to establish standards for coaches, facilities and equipment, improving the safety and quality of sporting environments. Regardless of which sport they participate in, residents should be active in safe and reliable environments. Establishing standards can ensure coaches have the necessary capabilities, equipment meets safety requirements and facilities are properly maintained. But whilst raising standards, we must also ensure we don't inadvertently increase burdens, especially for small sports organisations, community clubs and grassroots coaches.”
“Mr Speaker, with that, I will now continue my speech in Mandarin. (In Mandarin): [Please refer to Vernacular Speech.] Mr Speaker, I support the Singapore Sports Council (Amendment )Bill. This amendment makes our sports policy framework more comprehensive and better able to address Singapore's future sporting needs. It not only updates the system, but also better reflects how Singaporeans participate in sports, responding to the lifestyle habits and needs of different age groups. When I was young, I was a national gymnast. On the gymnastics floor, I learnt not just techniques, but focus, discipline and sportsmanship and these values have stayed with me to this day, benefiting me for life. I still remember the moments of falling down again and again during training, then getting back up and the encouragement and interaction between teammates. The unwavering strength to "take a step forward" is what sports gave me. Today, when I see residents of different generations exercising at community clubs, neighbourhood parks and schools, I am reminded of the values that sports bring us. Sports make communities more vibrant and the spirit that sports convey transcends time, age and background. This amendment is to ensure this lifestyle receives better support, a safer environment and a more sustainable direction for development. First, the amendment updates the definition of "sport" to include mind sports and e-sports within the statutory scope. In our communities, elderly people play chess, young people are passionate about e-sports and children try new physical activities. The forms are different, but they all require strategy, focus and endurance and can also cultivate team spirit.”
“Mr Speaker, I rise to support Singapore Sports Council (Amendment) Bill. Mr Speaker, there is a saying "If you want to go fast, go alone. If you want to go far, go together in a team". But today, I want just to add on "If you want to go even further, go together in a bigger team". That is exactly how the Prime Minister described for the "we first" society – we need a village to raise an athlete. Mr Speaker, before I begin my speech in Mandarin, I would like to declare that I am currently the Vice President of the Singapore Wushu, Dragon and Lion Dance Federation, and also a former national gymnast, coach, judge and managing NSAs. In my time as a gymnast in 1980s, we had no professional coaches, no professional facilities, needless to say no specialised equipment like today. As schoolmates, we trained one another, learning from books and sheer determination. I vividly remember my first SEA Games in 1985. We were required to compete in six apparatus, one of the apparatuses is Roman Rings, yet we did not even have the proper equipment to train on. We practised on metal rings instead of the laminated wood. We set up the rings under the blazing sun to train because we did not have a high ceiling hall. Sometimes, the metal rings were so hot causing our palms to burn. And we resorted to training in the night and bear in mind, not much light. Needless to say, when there is rain, we cannot even train. Many of such things happened. Even the training hours, without scientific, we have to train every day from 2.00 pm to 11.00 pm after school. Saturday, Sunday, we train from 8.00 am to 2.00 pm. That was the reality of being an athlete 40 years ago, driven not by comfort or resources but by passion, resilience and an unwavering commitment to represent Singapore with pride.”
“Mr Speaker, I also want to thank the Minister of State for his answer just now. Here, I have three supplementary questions. I am going to ask two in English and one in Mandarin. I also want to declare that I am staying on a high floor. I am also one of them. Especially, since this question is targeted at those staying in HDB flats. One, what is the current average response time for SCDF for such incidents, especially fire, on very high floor, and how does SCDF coordinate to reach this floor quickly, especially when the lift has broken down? My second question: what are the practical operational limits faced by SCDF today when fighting fires at very high floors, such as water pressure constraint, access challenges or evacuation difficulties? And will SCDF work with the Ministry of Defence on this, such as Heli Safe, aerial rescue and any other measure? My third question will be in Mandarin, please, Mr Speaker. (In Mandarin): [Please refer to Vernacular Speech.] We know that in Government and commercial buildings, there are always fire safety exercises. In HDB estates, we have also conducted many public education activities in Community Centres or the first floor of condominiums. However, when it comes to evacuation, especially in high-rise buildings and for the elderly who have mobility issues, how do we educate them in terms of evacuating effectively? In my opinion, we should not only educate the elderly, but also their caregivers and other residents, to give them hands-on experience so that when a fire breaks out, they know how to respond and help their neighbours evacuate.”
“Mr Speaker, my clarification will be in Mandarin. (In Mandarin): [Please refer to Vernacular Speech.] First of all, I would like to thank the Acting Minister for explaining very clearly the development options for 38 Oxley Road. I have three questions regarding 38 Oxley Road, the preservation of the home of Mr Lee Kuan Yew and how it will be handled. Given its historical, cultural and national significance, what objective criteria and expert consultations has the Government used in accessing the property’s heritage value? Secondly, if, in the future, we decide to preserve, redevelop or modify the site, how will the Government ensure the decision making will be transparent and maintain a balance with public interest? Thirdly, will the Government consider establishing an independent advisory team that will comprise historians, architects and community representatives to make recommendations on the future use of 38 Oxley Road, so as to foster social consensus?”
“If we calibrate this Bill thoughtfully, we can achieve both robust governance and vibrant enterprise. Let us pass legislation through strengthened accountability without stifling ambition and empower our SMEs to grow, innovate and continue contributing to Singapore's prosperity for generations to come. Mr Speaker, I support the Bill with these considerations in mind.”
“This exchange made me feel deeply that the entrepreneurship, flexible thinking and unwavering determination of our entrepreneurs are important driving forces behind Singapore’s continuous economic transformation and growth. They expressed confidence in the future and strong support for our national policies. At the same time, they also thanked the Government's long-standing commitment to support SMEs. Through various initiatives, such as the Enterprise Transformation Programme, the Government has actively promoted digitalisation, innovation and internationalisation, providing valuable resources and direction for businesses. The Corporate and Accounting Laws (Amendment) Bill 2025 further demonstrates the Government's continued commitment to improving the business environment and enhancing governance standards. These measures will not only enhance Singapore's international reputation, but also consolidate our position as a business hub that is trustworthy, stable and reliable. Of course, we must also be mindful of the manpower and cost pressures that SMEs may face when implementing the new regulations. I believe the Government will adopt a pragmatic and inclusive approach to ensure that the new measures enhance transparency whilst not imposing excessive burdens on businesses. Through streamlining processes, strengthening training, providing financial support and phased implementation, we can help businesses transition smoothly and achieve more comprehensive results from the reforms. (In English): Mr Speaker, the goal must be balance. Corporate transparency is essential to preserve trust in our markets. Yet, we must also protect the agility and entrepreneurial spirit that define Singapore's SMEs.”
“Larger firms can meet full reporting standards, while micro and small enterprises should simplify templates that maintain accountability without excessive cost. Two, digital enablement and simplified filing. Enhance ACRA's Bizfile+ platform with easy-to-use templates and automation tools. Where possible, integrate SMEs' accounting software directly with ACRA systems to reduce manual data entry and errors. Three, capacity building and advisory support. Provide training, webinars and advisory hotlines to help SMEs comply efficiently. Equip local accounting firms and trade associations to mentor and guide smaller businesses. Four, financial assistance measures. Consider targeted grants or subsidies to offset initial compliance costs, especially for digital reporting or first-time audits. Five, phased implementation. Allow a reasonable adjustment period for SMEs to familiarise themselves with the new ownership disclosure and filing requirements, ensuring smooth and confident adaptation. Mr Speaker, in Mandarin. (In Mandarin): [Please refer to Vernacular Speech.] Mr Speaker, SMEs are important backbone of Singapore's economy. They make up over 99% of all businesses, contribute nearly half of our GDP and employ about 70% of our workers. The growth and vitality of SMEs directly affect the robustness and resilience of our economy. It can be said that when SMEs do well, Singapore does well. Recently, I had the privilege of engaging in a dialogue with a group of predominantly Chinese speaking SMEs owner at The Society of Modern Management Singapore. They shared valuable insights about their experiences and challenges in doing business locally and offered many constructive views.”
“However, if SMEs find the new requirements difficult to fulfil, they may appear riskier to lenders or investors, ironically, reducing their access to financing or grants. In an economy where many SMEs depend on trade finance, venture capital and Government grants, the risk is real to them. That said, Mr Speaker, this Bill also presents great opportunities for SMEs. Enhanced corporate governance and ownership transparency will build investor confidence, attract long-term capital and reinforce Singapore's standing as a trusted and competitive global business hub. Done right, this Bill will not only uphold our clean and credible reputation, it will also empower SMEs to grow on a stronger and more sustainable foundation. The key lies in implementation, ensuring proportionality, support and flexibility. Recently, I had the privilege of engaging in a dialogue with a group of predominantly Chinese-speaking SME owners at the Society of Modern Management Singapore. They shared valuable insights about their experiences and challenges in doing business locally and they offered many constructive views. They expressed confidence in the future and strong support for our national policies. At the same time, they thanked the Government for its long-lasting commitment to supporting SMEs through various policies and initiatives. This consistent policy support has given SMEs a strong foundation to navigate in this increasingly complex global environment. Thus, allow me to offer five practical recommendations to make the implementation more SME-friendly. One, tiered compliance requirements. Adjust requirements based on company size, revenue or staff strength.”
“Mr Speaker, I rise today to speak in support of the Corporate and Accounting Laws (Amendment) Bill 2025, in particular, what it means for our SMEs, which are the true backbone of Singapore's economy. SMEs are not just statistics. They make up over 99% of all businesses, contribute nearly half of our gross domestic product (GDP) and employ about 70% of our workforce. They are our innovators, job creators and community builders. When SMEs do well, Singapore does well. But when they struggle, the ripple effects are felt across our economy and society. This Bill seeks to strengthen corporate governance, enhance financial transparency and align our frameworks with international standards, including the Financial Action Task Force's (FATF's) recommendations on ownership disclosure and anti-laundering measures. These are important goals. Accountability matters. Transparency matters. But even as we pursue higher standards, we must ensure that our SMEs, which form the heartbeat of our business ecosystem, are able to comply effectively and affordably. Many SMEs in Singapore are lean operations often family-run, entrepreneur-driven, with small teams juggling multiple roles. While stronger reporting and record-keeping can improve transparency, they can also raise compliance costs, especially for smaller firms with limited resources. If compliance becomes too complex or expensive, we risk discouraging innovation and entrepreneurship. Funds that could go into hiring, product development or market expansion may, instead, be channelled into paperwork, audits and consultancy fees. We must, therefore, ensure that transparency and efficiency progress hand-in-hand, especially for SMEs. Good governance enhances credibility and access to capital.”
“I thank the Minister of State for the statement. I just want to clarify that if there are any companies right now that are looking to coming to Singapore, but because of these tariffs, they are deterred or still just considering?”
“Only then can we be more confident, knowing that no matter what happens, we will always have a safe, orderly, warm, and caring community and family to rely on. Today's Singapore is safe, clean and green. Tomorrow's Singapore should also be warm, joyful and fulfilling. Challenges will continue to exist, but as long as we trust and support each other, Singapore will remain a ship that sails steadily even through stormy seas. [Applause.]”
“To go further, the Government, the National Trades Union Congress (NTUC) and several major platform companies have joined hands to form a Tripartite Workgroup, showing a strong collective commitment to improving the platform work environment. This is very encouraging. However, as the platform economy continues to grow, our policies must also evolve to ensure these workers are not left behind by society. True progress depends on whether we can build bridges of trust and understanding between generations, between communities, and between people's dreams and opportunities. Mr Speaker, Singapore's development has never been easy. National harmony and progress are not to be taken for granted. In these 60 years, I will not say we started entirely from zero, but we have gone through many processes from nothing to something. Our pioneers laid every brick and built step by step to establish a stable, prosperous and respected country. This would not have been possible without the hard work of our people. Our nation, our businesses, our families and our people are closely connected. As the saying goes, "When the lips are gone, the teeth feel the cold." This means that if one falls, the others will be affected too. When the nation is stable, businesses thrive; when businesses thrive, families are stable; when families are stable, people can live and work in peace and contribute to the nation. These four elements are the most important pillars of our society. We are building not just a functioning country, but a home where everyone can live in peace, with mutual trust. The nation is our shelter; we must also make our communities shelters for everyone, and make every family its own shelter.”
“Encouragingly, more employers in Singapore are recognising this, and many companies have begun offering more flexible work arrangements to help employees balance work and family. I believe we can take further action: encourage more companies to provide flexible work arrangements so parents can spend more time with their children; strengthen family counseling and parenting support services, so those in need can get professional help; and encourage businesses and community organisations to jointly promote "family-friendly programs", treating support for families as a shared responsibility. What we are promoting is not just community activities or family policies, but more importantly, a culture of mutual care and concern. A truly strong country is not one without problems, but one where people are willing to help each other and solve problems together in times of difficulty. Therefore, we must place emphasis on building "heartware", not just hardware. What we need to strengthen is trust, empathy and a spirit of community care. This includes mental health and also whether our seniors feel secure, whether our young people are confident about the future, whether our families are supported, and whether our workers, including platform workers, are respected and able to work with dignity. I want to especially mention platform workers. Every day, they work hard delivering food and transporting our loved ones. Their jobs may seem ordinary, but they support the daily lives of many. Platform work also reflects the nature of today's economy: fast-paced, diverse and flexible. With the Government actively pushing for reform, the Platform Workers Act has officially come into effect, marking an important step in protecting their rights.”
“For example: help seniors learn new technologies, especially applications of artificial intelligence; provide industry mentorship programs to guide enterprise modernization; strengthen and simplify financing and market access support; through the Economic Development Board (EDB) and Enterprise Singapore, connect international companies with local SMEs to create more collaborations and opportunities; continue using policy tools to encourage companies to explore overseas markets; encourage cross-community and cross-sector collaboration to build enterprise networks within local communities; and give young people opportunities to engage with successful entrepreneurs, learn from their experiences and values, and carry on their spirit. Recently, I have used my spare time to engage with entrepreneurs to discuss the trends of AI, as well as the challenges and opportunities it brings. I encourage them to participate in AI-related events, learn new skills and prepare for the future. These entrepreneurs come from different generations and run all kinds of SMEs. In our conversations, they not only learn from one another, but all agree that AI will become increasingly important. They also hope for more community platforms like this to continue learning, practicing and progressing together. Family is the core of society and the first place where children learn empathy, responsibility, and values. To build a resilient society, we must first support every family. In our communities, we often hear from parents, they work hard while taking care of their children, all in hopes of providing a better life for their families.”
“Take Lin Huiyi, 27 years old, who was once a bodyguard to both our former and current Presidents. Not wanting the flavours of her hometown to be lost, she now runs a Cantonese porridge stall with her parents. She not only preserves traditional tastes but also uses social media to attract younger people, introduces new management styles, and builds a team culture. Despite challenges, her passion and perseverance are admirable. She reminds us that when dreams are rooted in culture and community, they deserve our support, recognition and attention. Enterprises like hers are not just part of our economy they are continuations of our heritage. In terms of policy, how can we offer greater assurance so that these entrepreneurs can work and live with peace of mind, rooted in tradition and community? However, many SMEs face challenges, such as manpower shortages, rising costs, digital transformation, international competition and succession issues. Behind the seemingly cold data is a group of hardworking entrepreneurs who support countless families. We must value and protect their efforts so they can continue contributing to the nation and preserving this culture and spirit. Therefore, when we formulate policies, we must not only listen to their voices but also provide concrete assistance. This support is not only for economic growth, but also a social investment.”
“It is precisely because of this solid foundation that Singapore can remain a strong haven amid storms, giving us protection and confidence. But the question we must ask is this: while the nation shelters us, can our communities and families also be shelters for each other? Can they offer warmth to everyone, regardless of age or background, so that all may feel, "Someone cares about me. Someone is willing to listen to me?" Singapore is known as a "bright little red dot" not just because of its strong economy or good infrastructure, but also because of the unity and compassion of its people. Many Singaporeans volunteer, donate and help those in need through various groups and organisations. This also reminds me of a psychological theory – the hierarchy of needs. It suggests that after meeting physiological and safety needs, people seek higher levels of social connection, esteem and self-actualization. In Singapore, there are over 2,000 registered charities, reflecting the warmth and care within our society. In today's rapidly developing era of AI, technology is not only changing business models but also affecting relationships between people. We must ask ourselves: how can we build a loving society in a fast-paced, efficiency-driven environment? We all know that small- and medium-sized enterprises (SMEs) are an irreplaceable force in Singapore's economy and society. They make up 99% of all local businesses and provide around 70% of local jobs. Many of them are family-run businesses passed down through generations. They do not just create jobs they preserve our culture and spirit. In recent years, more young people have chosen to give up stable jobs in order to preserve their families' food culture.”
“Mr Speaker, I will deliver my speech in Mandarin. (In Mandarin): [Please refer to Vernacular Speech.] Mr Speaker, I support and thank the President for his address. Today is my first time speaking in Parliament and it reminds me of how I felt in 1985 when, as a national gymnast, I represented Singapore for the first time at the Southeast Asian Games. Although 40 years have passed, my feelings then and now remain the same. I have always linked my personal beliefs, sense of mission and the interests of the nation together. I would like to take this opportunity to thank the residents of Jurong East-Bukit Batok GRC, especially those in Hong Kah North, for their trust and support. Singapore has been a nation for 60 years and has experienced many difficulties and challenges. Our economic direction has been adjusted multiple times, yet our gross domestic product (GDP) has steadily grown year by year. This is mainly due to our stable and efficient government, sound systems, and the unity and hard work of our people. Singapore is a country that relies heavily on foreign trade. In a complex international environment, it naturally faces many uncertain risks. But we know that Singapore's development is not only for economic growth, but also for social stability, the well-being of our people and the future of our next generation. Only by working hard together, supporting and encouraging one another amid uncertainty, can Singapore remain resilient. Although our country is small, with a land area of about 735.7 square kilometers, we have made rapid progress in finance, technology, industry and manufacturing. Limited land has not hindered our goals but, instead, driven us to build a high-efficiency, high-value and balanced industrial structure.”