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Singapore sees economic growth, population, identity key challenges in next 50 years

Xinhua, June 30, 2015 Adjust font size:

Economic growth, population and identity will be the three key challenges in the next 50 years, said Singapore's Prime Minister Lee Hsien Loong on Tuesday.

Lee outlined these challenges which concern Singapore's survival in the future at Ho Rih Hwa Leadership in Asia Public Lecture organized by Singapore Management University.

Singapore needs to improve productivity and maintain economic growth in the next 10 years, the prime minister said, adding to achieve 2 percent productivity growth a year may be difficult but this is the only way that Singaporeans can continue finding good jobs and having opportunities.

In a 25-year horizon, PM Lee pointed out Singapore must solve the issues of aging population and declining birth rates. The number of citizens aged 65 and above in Singapore is increasing rapidly. The figure may reach 900,000 in 2030 from 440,000 today.

Ageing society will cause problems on social services and healthcare, economic prosperity as well as defense of the country. PM Lee said the population could keep younger if the country can increase its total fertility rate from 1.2 to 1.5.

However, the biggest of the three challenges is to forge a common identity among Singaporeans, said PM Lee.

The prime minister said Singapore needs a strong sense of identity and nationhood in the next 50 years just as the country needed good policies in the past five decades. The government is tackling with these challenges, but all these plans depend on good leadership. Endi