SAN FRANCISCO - Singapore companies must take innovation and technology seriously, be able to change quickly, yet not leave workers behind, Finance Minister Heng Swee Keat told an audience at the two-day Bridge Forum CEO Summit in San Francisco.
Mr Heng was speaking with Sequoia Capital Managing Partner Doug Leone, who highlighted the unique risk-taking mindset of Silicon Valley entrepreneurs as a key ingredient of its success, and advised Singapore to focus on attracting talent and raising its output of STEM graduates as much as possible."If you look at the backlash against globalisation, it is in all the places where the workers felt that their interests had been compromised, they have not been taken care of," Mr Heng said.
It was first held last year with real estate tech as a focus; this year the focus was financial tech. Citing Asia's vigorous growth - and that the fastest-growing region in the Internet economy is Asean - Mr Heng said:"Asian economies are a lot more open, a lot more integrated and powering ahead in terms of competitiveness."
"The question is how do we do this well. Global rules that define the rules of the game are important, and that's why the WTO is a very important forum," he added."We should be talking about how we can reform the WTO so that we have a multilateral, rules-based international order to resolve issues."
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Source: BusinessTimes - 🏆 15. / 51 Read more »