Singaporean Prime Minister Lee Hsien Loong (
"It must be a totally different Singapore. Because if it's the same Singapore [as] today, we're dead," Lee said, referring to his country in the future. "We have to remake Singapore -- our economy, our education, our mindsets, our city," he added in his National Day Rally address, an annual policy speech.
At one point in the nearly two-hour speech late on Sunday, the usually unflappable politician's eyes teared up as he tried to rally his citizens, recounting his past participation in independence day parades.
On Aug. 9, Singapore celebrated its 40th year of independence from Malaysia. It had previously been a British colony.
Lee, 53, said that Singapore -- one of Asia's wealthiest countries, which has long relied on its efficiency and clean government to attract foreign investment -- will move to "foster innovation and enterprise."
He said the island republic's citizens must look at Las Vegas for new direction.
"Out of nothing in a desert, they have built a city. Forty million people visit every year," Lee said. "We don't want to become Las Vegas, but we should learn from their spirit."
Lee's administration has approved the building of two casinos in resource-poor Singapore by 2009. Several Nevada casino moguls are bidding for the jobs.
Lee's speech also touched on terrorism, Singapore's service culture and improved relations with China, which were damaged after he visited Taiwan last year.
"Our relations with China are back on track. We are friends with key players who matter to us," said Lee, who visited Taiwan just before assuming leadership of the city-state.
Singapore has been attempting to retool its formerly manufacturing-based economy, focusing more on areas like biomedical sciences and the arts.
Taiwan is projected to lose a working-age population of about 6.67 million people in two waves of retirement in the coming years, as the nation confronts accelerating demographic decline and a shortage of younger workers to take their place, the Ministry of the Interior said. Taiwan experienced its largest baby boom between 1958 and 1966, when the population grew by 3.78 million, followed by a second surge of 2.89 million between 1976 and 1982, ministry data showed. In 2023, the first of those baby boom generations — those born in the late 1950s and early 1960s — began to enter retirement, triggering
ECONOMIC BOOST: Should the more than 23 million people eligible for the NT$10,000 handouts spend them the same way as in 2023, GDP could rise 0.5 percent, an official said Universal cash handouts of NT$10,000 (US$330) are to be disbursed late next month at the earliest — including to permanent residents and foreign residents married to Taiwanese — pending legislative approval, the Ministry of Finance said yesterday. The Executive Yuan yesterday approved the Special Act for Strengthening Economic, Social and National Security Resilience in Response to International Circumstances (因應國際情勢強化經濟社會及民生國安韌性特別條例). The NT$550 billion special budget includes NT$236 billion for the cash handouts, plus an additional NT$20 billion set aside as reserve funds, expected to be used to support industries. Handouts might begin one month after the bill is promulgated and would be completed within
The National Development Council (NDC) yesterday unveiled details of new regulations that ease restrictions on foreigners working or living in Taiwan, as part of a bid to attract skilled workers from abroad. The regulations, which could go into effect in the first quarter of next year, stem from amendments to the Act for the Recruitment and Employment of Foreign Professionals (外國專業人才延攬及僱用法) passed by lawmakers on Aug. 29. Students categorized as “overseas compatriots” would be allowed to stay and work in Taiwan in the two years after their graduation without obtaining additional permits, doing away with the evaluation process that is currently required,
RELEASED: Ko emerged from a courthouse before about 700 supporters, describing his year in custody as a period of ‘suffering’ and vowed to ‘not surrender’ Former Taiwan People’s Party (TPP) chairman Ko Wen-je (柯文哲) was released on NT$70 million (US$2.29 million) bail yesterday, bringing an end to his year-long incommunicado detention as he awaits trial on corruption charges. Under the conditions set by the Taipei District Court on Friday, Ko must remain at a registered address, wear a GPS-enabled ankle monitor and is prohibited from leaving the country. He is also barred from contacting codefendants or witnesses. After Ko’s wife, Peggy Chen (陳佩琪), posted bail, Ko was transported from the Taipei Detention Center to the Taipei District Court at 12:20pm, where he was fitted with the tracking