Speech by President at Swearing-in Ceremony of the Cabinet

Prime Minister

Cabinet Ministers

Ladies and Gentlemen

        Singapore has faced a turbulent five years since the last General Elections in 2006. During this period, the world suffered its worst recession in six decades. Being a small, globalised economy, the economic tsunami hit us head-on. Very soon, we found ourselves in the deepest domestic recession since our Independence. 

2      We tackled the crisis decisively as one people. Singaporeans rallied together to sail through the stormy waters. The government introduced the Resilience Package, which brought relief to many families in need. Not only did the Package help many Singaporeans to keep their jobs, it also enabled our businesses to stay ready to seize growth opportunities as the global economy started recovering.

3      Due to the unprecedented severity of the crisis, the government for the first time sought my office’s approval to draw on the reserves to help fund the Resilience Package. This episode validated the need for Singapore to have strong national reserves, as well as an effective framework for protecting the reserves, as provided by our system of having the Elected President hold a second key.

4      We emerged strongly from the crisis. Our economy grew by a record 14.5% in 2010, and continues to grow well this year. Singapore has also been physically transformed over the past five years as a result of careful long-term planning and investment. Singaporeans have benefited from upgraded homes, schools, hospitals and community facilities, and the sparkling Marina Bay.

5      Although the worst appears to be over, we must watch for critical risks. The global economic recovery is still fragile, and rising food and fuel prices pose inflation worries for many countries. International and regional terrorism remain a threat to our security.

6      Against this backdrop, Prime Minister Lee Hsien Loong called the General Elections to let Singaporeans decide on the future direction of Singapore, and endorse the new leadership team that will steer Singapore forward. The voters have given Prime Minister Lee and his team a clear mandate, supporting his vision of Singapore as a fair and inclusive society, where all Singaporeans can share in the nation’s progress. At the same time, the voters have also indicated their desire to have more voices in Parliament, and a different style of Government that engages more with its citizens.

7      The General Election saw a full airing of views on a wide range of issues. Now is the time for everyone, whether from the government or opposition, to work together to serve the nation, and do their best for the good of all Singaporeans.

8      In its new term, the government must reach out and work together with Singaporeans from all backgrounds, and address their needs and aspirations. It must put in a special effort to better understand the younger generation when shaping policies that affect them and the future of Singapore. At the same time, it must attend to the concerns of the senior generation who have helped build the Singapore of today.

9      It is a more uncertain, volatile and competitive world ahead of us. As we adapt and respond to the challenges of the new age, we must maintain our strong fundamentals. We have to foster a competent, clean government, working together with a skilled and hardworking citizenry for the long-term good of Singapore. We must never lose our distinctive strengths of staying united under pressure, acting decisively in the face of difficult challenges, and maintaining our confidence and courage to put in place strategic, long-term policies that may only benefit Singaporeans many years down the road.

10    To take the nation forward and keep Singapore successful, we need able men and women to commit themselves to serving the nation. I welcome the new Members of Parliament who will help carry the torch forward. I also thank the Ministers who are stepping down from the Cabinet after many years of distinguished and dedicated service. On behalf of all Singaporeans, I especially thank our former Prime Ministers Mr Lee Kuan Yew and Mr Goh Chok Tong, for building Singapore into the shining city that it is today, and improving the lives of millions of Singaporeans. I hope they can continue to contribute to Singapore’s growth and development in their own ways for many years to come.

11    The road ahead is challenging, but also full of opportunities. I urge all Singaporeans to come together and help build a better future for our nation, for ourselves and for our children and grand-children. As long as we remain united and determined in both purpose and deed, there is no reason why we cannot continue to succeed, as we have done over the past five decades.

12    I wish the Prime Minister and his new Cabinet all the best as they carry out their responsibilities. I trust that they will continue the good work of their predecessors and bring Singapore to new heights.

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