Emerging Stronger Taskforce to provide recommendations on post-COVID-19 economy

Photo by Shi Min Teh

The Emerging Stronger Taskforce (EST), co-chaired by Minister for Social and Family Development and Second Minister for National Development Desmond Lee and PSA International Group CEO Tan Chong Meng convened its first meeting via video conference in early May.

In addition to the two co-chairpersons, 15 industry representatives from across various sectors have been appointed to join the Taskforce. They were selected for their wealth of experience and expertise, broad perspectives on the global economy, and strong business networks.

In the spirit of Singapore Together, the Taskforce will widely consult multiple stakeholders, including business leaders, industry experts, and Trade Associations and Chambers. The Taskforce will also invite Singaporeans to participate in the work of the Taskforce, such as sharing views and suggestions, jointly developing ideas and contributing to the building of Singapore’s economy post-COVID-19.

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As a Taskforce under the FEC, the EST will work with the six FEC Clusters on their industry transformation strategies, taking into account the changes that COVID-19 will have on the global economy and on Singapore. The Taskforce will also be able to draw on the collective wisdom of the FEC, to sharpen its recommendations for the post-COVID-19 world.

As the global COVID-19 situation is fluid and unpredictable, the Taskforce plans to present its recommendations in phases. It plans to share its preliminary recommendations with the FEC by early next year.

Minister Desmond Lee said, “I am grateful to my co-chair, Chong Meng, and the EST members for coming onboard this taskforce. Each member brings a wealth of experience, expertise and deep connections with industries and I look forward to their contributions. By hoisting in views from different segments of society, we want to put together a set of economic recommendations for the FEC to build on, so that Singapore can emerge stronger from this crisis.”

PSA International Group CEO Tan Chong Meng said, “COVID-19 has completely changed the way we operate. Our economy has been hit on so many fronts and the best way forward is to build resilience in our economy and society. To do so, we will need to re-imagine the next ‘new normal’ across multiple dimensions.

“As the co-chair of the taskforce, I urge members to think beyond the confines of everyday life and apply smart, effective solutions to the unprecedented challenge before us. I believe that Singaporeans and businesses will bounce out from COVID-19 stronger,” he concluded.