PM Lee delivers Mandarin Speech at National Day Rally
Speaking in Mandarin at the National Day Rally,
Prime Minister Lee Hsien Loong noted that Small and Medium-Sized Enterprises or SMEs are facing many challenges as Singapore transforms its economy.
Besides limited resources, manpower is the biggest challenge faced.
Acknowledging that the SMEs have tried hard to raise productivity, improve service standards and reduce labour costs, Mr Lee assured them the government will do its best to help.
While it's important to control the influx of foreign labour to prevent dire consequences, he said help is available to help businesses tide over the problem.
One example is the $5.3bn Transitioning Support Package pushed out earlier this year to help businesses restructure and upgrade.
The government will also help SMEs find more opportunities to grow.
Mr Lee also announced a fundamental shift in the way the government helps Singaporeans deal with the challenges and cope with the stress that comes with Singapore being at a turning point in its development.
He said the government and the community will share a larger part of the individuals' burden.
The goal is to ensure everyone will benefit.
Mr Lee said Singaporeans can look forward to a better tomorrow.
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