Speaking at the MIT Economic Dialogue organised by SMU on Monday evening, Minister in the Prime Minister's Office and the Second Minister for Trade and Industry, Mr S. Iswaran said that Singapore's demographic trends indicate that economic growth will be more difficult to achieve in future. He said that the workforce is ageing and shrinking. Thus, Singapore needs to raise its labour force participation rate, boost productivity and employ foreign manpower judiciously. He pointed out that Singapore will need growth to create more opportunities to meet the rising aspirations of Singaporeans.
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