Full chinese transcript can be downloaded here:
http://www.channelnewsasia.com/annex/NDM_textch.pdf
SINGAPORE: Prime Minister Lee Hsien Loong has trimmed Singapore's economic growth target for this year amid renewed turbulence in the global financial markets.
In his annual televised National Day message on Monday, Mr Lee said gross domestic product is now forecast to expand 5-6 percent, slightly down from the original projection of 5-7 percent.
He also said that the economy grew 4.9 percent in the first half, with unemployment remaining at 2.1 percent.
"Despite some risks on the horizon, we project steady growth of 5-6 percent for 2011," he said.
Prime Minister Lee urged Singaporeans to be attentive to global trends and take a longer-term view of the future while addressing concerns at home.
"Asia, led by China and India, is expected to continue growing, but the global outlook remains uncertain," he said.
"Europe's debt problems are far from solved, despite the recent bailout of Greece by the EU. The US economy remains sluggish. The US President and Congress have agreed to raise the debt ceiling, but have put off difficult decisions to raise taxes and cut spending. Japan has the added burden of earthquake and tsunami recovery," he added.
"These three key economies are struggling to find the decisive leadership required to resolve their domestic challenges. This will weigh them down and dampen global prospects," said Mr Lee.
He also cautioned against turning "negative on foreigners" who have helped Singapore prosper.
Prime Minister Lee said Singapore is in a defining moment in its history.
"Our growth strategies of upgrading education and skills, and breaking into higher-value sectors have created good new jobs for Singaporeans. Compared to five years ago, most households have seen incomes rise," he said.
But Mr Lee said the next five years will bring more rapid changes. Thus, the need to anticipate and respond to world events and chart a course that maximises Singapore's chances of success.
Mr Lee acknowledged that some government policies did not keep pace, but the problems are being tackled. These include building more HDB flats to reduce waiting times and keep prices affordable, and adding MRT lines and buses to improve public transport service standards.
The inflow of immigrants and foreign workers is also being moderated.
Mr Lee also had a word of caution. He said: "While we will always put Singaporeans first, let us not turn negative on foreigners. Singapore has prospered because we have been open to the world and alive to economic competition and change.
"This is how we have attracted investments, created jobs for Singaporeans and made Singapore a vibrant city. We cannot afford to close in on ourselves or attribute all our problems to foreigners.
"We must stay connected to the world and continue to welcome talent and ideas, wherever they may come from. Only then can we continue to thrive and build a better Singapore for all."
Beyond these specific policies, Mr Lee said the way Singapore manages its affairs must also change, as a new generation of citizens call for more alternative voices and more debate on issues affecting them.
"I welcome this. I invite Singaporeans with ideas and plans to come forward, and help us get more things done in better ways," he said.
"The government will reach out to all segments of society, to tap your imagination, energy and initiative. This will not only improve policies and results, it will also strengthen our sense of commitment and belonging to this place we call home."
While more diverse views can produce a more vibrant society, Mr Lee said they may also split and weaken the people. So the way forward is to enlarge the common space, and not magnify differences and become a house divided.
By staying united, Singapore can respond effectively to major challenges and continue to outperform other countries.
Most importantly, Mr Lee believes Singaporeans can surmount the challenges of nation-building by looking out for one another and working hand-in-hand to improve everyone's lives.
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Singapore National Day Rally 2011 Pt3/4 - 14Aug2011by 154media1,974 views
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