SINGAPORE: Businesses leaders should invest in innovation, people and the community so as to be"good stewards of our future”, said Deputy Prime Minister Heng Swee Keat on Tuesday .
As for the drop in support for globalisation, the deputy prime minister said that the fruits of globalisation have not been shared equitably. The current US-China trade friction, for example, is one manifestation of this trend, he said. He added that as companies today compete in the realm of ideas and to develop new products and services, there is a need to redesign jobs and work processes. In turn, workers can stand to earn higher wages from better jobs and improve their lives.The long-term growth of businesses is only as good as the capabilities and skills of their workers, he said.
Lastly, there is a need for businesses to invest in the larger community it is in. “Companies should not just do well; they should also do good,” the minister said.
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