Goh sees bright prospect<\/p>\n
SINGAPORE (Reuter): Singapore's economy is expected to grow
\nby eight to nine percent in 1995 after two years of double-digit
\nexpansion, Prime Minister Goh Chok Tong said on Saturday.<\/p>\n
\"We achieved exceptional growth of 10.0 percent (in 1994),
\nas high as in 1993,\" he said in a New Year message. Goh said the
\noutlook for 1995 remained good on the back of strong domestic
\nposition and favorable international conditions.<\/p>\n
He said the 1994 growth was broad-based, with manufacturing
\nand construction sectors doing especially well.<\/p>\n
The prosperous island-state attracted a record S$5.8 billion
\n(US$3.97 billion) of manufacturing investment commitments, mainly
\nin capital-intensive industries, despite stronger competition for
\ninvestments from its neighbors, he said.<\/p>\n
Goh said Singapore, with its per capita gross domestic
\nproduct equivalent to US$20,000 the 16th highest in the world,
\nhas become a middle-income country, but it is still achieving
\nhigh growth rates more typical of dynamic developing countries.<\/p>\n
He also said in view of a borderless economic world there
\nwas a need to make sure its ablest and most talented Singaporeans
\nstay here as they are the ones who create wealth and jobs.<\/p>\n
To do so, Singapore must strengthen its unique
\ncharacteristics of the society which root Singaporeans at home.
\n\"Singapore can offer its citizens the best of both words -- a
\ncomfortable, developed city where crime rates are low and
\nfamilies feel safe, and there are opportunities galore in a
\nregion that is taking off,\" Goh said.<\/p>",
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