DPM Tharman: Singapore Needs to be Innovative

Singapore’s future lies in being an innovative economy, said Deputy Prime Minister and Coordinating Minister for Economic and Social Policies Tharman Shanmugaratnam.

He made this point in his speech at the 50th Anniversary of the National University of Singapore’s (NUS) Business School on Wednesday (28 Oct).

DPM Tharman said innovation needs to permeate society: "Innovation in a serious form requires deep skills. It’s not just about being innovative, it needs deep skills, whether in digital analytics, robotics (or) digital marketing. And we need deeper skills in Singapore than we have today.”

He added that innovation needs networks of individuals with deep skills, in addition to business plans.

Other areas that could help Singapore become an innovative economy and society include engaging the older workforce through lifelong learning, encouraging incumbents to adopt a “start-up mindset” and focus on innovation, as well as encouraging original thinking in future generations.

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Source: “Singapore's future lies in being an innovative economy: Tharman” (Channel NewsAsia, 29 October 2015)

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