THE VALUE OF Resources
In between speaking to the media, Mr. Ng engaged in a virtually two-hour question-and-answer conversation with the Teochew community partnership people about issues like the significance of Singapore’s resources and the function of the elected President.
The reserves help the nation’s finances in times of conflict in addition to maintaining the strength of the Sing dollars.
” I hope that Singapore won’t ever have to go to battle and that no one will invade our nation.” However, if that tragic moment arrives, we will have to rely on our reserves to ensure Singapore’s economic security and life.
The draw on resources during the COVID-19 crisis, he continued, shows that the militia support lower-income Singaporeans and help keep jobs during” really difficult” economic times.
I worked at GIC for 30 times, Mr. Ng said. In order for us to manage our own finances, I contributed to growing our resources by making wise investments in them and to establishing GIC as one of the top sovereign wealth funds in the world. We are able to spend our personal cash.
” I don’t want the resources to be wasted, and that’s why I decided to run for president so that I can contribute to defending our deposits, which are so crucial from a strategic standpoint.
Spending on” what is required ,” such as health care, education, housing, and assistance for lower-income teams, is essential to protecting the resources, he continued. & nbsp,
However, we shouldn’t spend too much. The potential is very uncertain, so we must try to save what we may, Mr. Ng said.
So, it is the president’s responsibility to ensure that the government does not overspend and, as a result, fails to save enough money for the future.
Singapore has currently been” very fortunate” to have a government that has” saved much money” since gaining its independence. The problem will arise if our state is ineffective and only wants to spend money, Mr. Ng said.
” The President must decline. If the state wants to overspend, the President has the power to reject.
The elected President is also in charge of safeguarding two different national jewels, namely the cohesion of Singapore’s populace and the presence of a strong government, in addition to being the guardian of its resources.
Traders from all over the world want to invest in Singapore because they value effective governance. Therefore, the President is in charge of safeguarding these three priceless items, he said.