Prime Minister Lee Hsien Loong
Distinguished Guests
Ladies and Gentlemen
Thank you, Prime Minister, for your very warm remarks for me and my husband, and for hosting this farewell reception.
On 14 September 2017, I took my oath of office as the 8th President of Singapore. Throughout my six years in office, I have performed my duties to the best of my ability in the service of Singapore and our people. During my Presidency, we suffered the most severe and unprecedented crisis with the onslaught of Covid-19, and we had to make very difficult decisions concerning our past reserves. It was an excruciating balance between saving for the future and immediate withdrawals to protect jobs and livelihoods. I was glad that in the end, everything worked out well. We weathered the storm, and our economy is slowly recovering although we continue to face major headwinds in the aftermath of Covid-19.
The Covid-19 pandemic gave us the opportunity to, once again, test the working of our two-key system. It was not the first time that we unlocked our reserves. Former President SR Nathan did the same in 2009 although the sum involved was much smaller and the impact of the financial crisis was short-lived. The President does not have the power to initiate a draw on the past reserves. It must be initiated by the Government. As the custodian of the second key, my task was to assess the need and gravity of the request. More specifically, draws on past reserves should only be considered in exceptional circumstances, where the crisis or threat to Singapore’s economy or society is so severe that it warrants an exceptional response from the Government. The Government briefed me, and the Council of Presidential Advisers and we had very extensive, robust, and thorough discussions before I gave my consent. The severity of the pandemic necessitated five withdrawals as the infection spread with great speed and intensity and the Government had to respond quickly with support measures.
The President’s Office is not meant to operate as a parallel ministry of finance or investment advisory body of our past reserves. This is not the stated role of the President in the Constitution and the President’s Office is not equipped for such a purpose. In carrying out my custodial duties, my Office works closely with public officers dealing with matters related to finance and past reserves and these officers were always open and accessible, and performed their duties with great professionalism.
The other key function of the President is approving certain key public sector appointments. The Government has a rigorous process in place for appointing capable persons with integrity to key posts. The requirement for the President’s approval is another layer of checks, which is important in ensuring good governance, but an uncommon practice which the Government has voluntarily imposed on itself. The Council of Presidential Advisers will thoroughly vet the candidates and in most instances, conduct face-to-face interviews with them before making their recommendation to me. I took into consideration the Council’s recommendation, but made my own assessment based on the merits of the candidates.
Overall, I had a good working relationship with the Government based on mutual respect, trust and a clear understanding of each other’s roles and responsibilities. The relationship was always at arm’s length and conducted with great propriety and decorum. My queries and requests for information were taken seriously, and I was always able to carry out my duties properly and independently.
The President also plays an important role in uniting and rallying our people together. In this capacity, I focused on creating a more caring, compassionate, and just society. With the strong support of donors, volunteers, such as the Youth Corps Singapore, advocates as well as community, social and business organisations, we raised generous amounts for the President’s Challenge to help communities in need and made important shifts to extend our help beyond assistance to empowerment, and beyond the direct beneficiaries to include their caregivers. I launched the Empowering for Life Fund to support programmes that promote skills upgrading, capacity-building, and employment for beneficiaries from disadvantaged families. The impact of the programme has been positive and significant, facilitating beneficiaries to gain self-sufficiency and sustained improvements to their lives. The President’s Challenge became an important platform to raise awareness about the concerns of our underserved communities.
Through my patronage of causes and community engagements, I have supported a wide range of causes and engaged Singaporeans from all walks of life. Throughout my Presidency, I had endeavoured to stay close to our people, officiating at more than 1,400 community events. I made the Istana more accessible, particularly to Singaporeans who would otherwise have no chance of visiting it, including hospice care patients and those suffering from the debilitating motor neuron disease. Enhancements to the Istana Gardens, in particular the Inclusive Garden, made it more wheelchair friendly for those with mobility challenges. I also reached out to different communities, such as, persons with disabilities and those suffering from mental health issues. I am proud of the President’s Challenge funded programme, SYiNC or Supporting Youth in Community, which is a significant collaboration with the Institute of Mental Health and four social service agencies to offer mental health support services to young people in the community. I am also encouraged by the diversity of ground-up community projects supported under the Digital for Life Fund to equip groups, especially those who were hardest hit by the Covid-19 pandemic, with digital tools, skills and connectivity, so that no one gets left behind. More recently, President’s Challenge also supported PAVE to produce a video on child safety to teach preschoolers body safety skills and how to protect themselves from sexual abuse. The video is now widely distributed to early childhood education centers.
I strongly believe in the importance of inter-racial and inter- religious harmony and social cohesion. Singapore was founded on this key pillar. To this end, I initiated the International Conference on Cohesive Societies in 2019 and a second run was held last year. Both conferences were very well received with participants from many countries, a testament to the collective desire to foster unity and harmony in our societies. In an increasingly polarised world, where race and religion have become serious dividing forces, it is important that Singapore remains a country where people of all races and faiths can live peacefully, have equal access to opportunities and build a shared future together. Singapore also has a role to play to promote this at the global stage to make the world a better place for all, because in a highly globalized and digitalized world, the effect of xenophobia and prejudice are not confined to national borders.
Diplomacy constitutes a key part of my work. During my Presidency, and amidst the Covid-19 restrictions, I made 21 overseas visits, including 12 State Visits. It was a chance to raise Singapore’s international image, strengthen our bilateral ties and open new economic opportunities for our companies. During my visits I met many Singaporeans. I appreciate their contributions and for carrying Singapore’s flag high. Being the first female Head of State and from a minority community, has its benefit too, as the outside world could see that in Singapore, meritocracy and diversity are real and not mere slogans.
I am aware that as the first female President, I had the distinct opportunity to inspire other women and girls. Many have shared with me about how uplifting it was for them to see a female Head of State and its strong message about women’s place in our society. As someone said to me, I have “…allowed people to imagine the President as a woman” and that “Images and ideas give birth to reality”. If I have been able to empower women in Singapore, to push the boundaries and reach their fullest potential, I am most grateful for the chance to do so.
I want to take this opportunity to thank all the Presidential Councils for their significant service to the nation and the Presidency. The Council of Presidential Advisers, which directly advises the President on custodial matters, comprises members of high standing and reputation with sterling achievements from all walks of life – judiciary, private, public and the social sectors. The Council members accepted these onerous responsibilities out of their singular sense of duty to Singapore and this important institution of the Elected Presidency that they serve. I would also like to express my deep appreciation to the many social service agencies and business organisations who supported and worked with me over the last six years to uplift the underprivileged in our society.
The Covid-19 pandemic is a memory of the past now but it would be a mistake to let the memory fade with time. The greatest lesson of Covid-19, is how our past reserves, built so prudently and painstakingly over the years by successive governments, saved us from a huge disaster. We could act decisively confident that we have the resources to do so. We did not have to borrow to save our people and economy, unlike many countries now struggling under the burden of crippling debts amidst rising interest rates and depreciating currencies, and having to make painful choices between investing in their country or servicing their debts. Our past reserves saved us from this harrowing situation.
As a small, open economy we continue to face many economic challenges but if we stand together and stay united, we have a better chance of keeping Singapore exceptional. I have seen how we stood united during the Covid-19 pandemic, where people observed the safe distancing rules and supported each other, enabling us to navigate safely out of the pandemic. The Government could not have done it alone. We will need that same sense of unity and purpose, in an era of shifting geopolitical alliances, economic rivalries, huge climate change challenges and a rapidly ageing population, to move ahead.
I wish to thank my family, especially my husband, Mohamed, for standing by me throughout this journey. My family’s love, encouragement and sacrifices have been the bedrock of my strength. I am forever grateful for your unwavering support, understanding and love.
Tomorrow, a new President will be sworn in. I wish Mr Tharman Shanmugaratnam all the best in discharging his duties.
To the people of Singapore, I am humbled by your trust and faith in me as your President. It has been a privilege to be your voice, to listen to your concerns, and to work tirelessly on your behalf. I carried your aspirations in my heart, and it is your unwavering support that has fuelled my determination to serve, every day and every step of the way.
Thank you all, and may Singapore continue to prosper and thrive.