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<\/figure>\n\n\n\n#1 Defence<\/strong><\/h3>\n\n\n\nPM Lee highlighted the fragile geopolitical landscape today. There is already ongoing war in Europe \u2013 as Russia invaded Ukraine unprovoked. This can be significant for Singapore, as we are only a very young nation – with a history that can be challenged.<\/p>\n\n\n\n
There is also heightening tensions between the two superpowers in the world \u2013 the U.S. and China, with the spotlight potentially on Taiwan.<\/p>\n\n\n\n
Since independence, Singapore has prioritised our defence. With the geopolitical situation today, it continues to look as relevant as the day we began our conscript army in 1967. In 2022, the government expects to spend $16.4 billion on the Ministry of Defence, an increase of 6.5% from 2021. <\/p>\n\n\n\n
Apart from a large government spending, the sector may benefit with ST Engineering forming the major company within the industry.<\/p>\n\n\n\n
#2 AgriTech<\/strong><\/h3>\n\n\n\nPM Lee also noted that Singapore depends on imports for its sustenance. Supply chains were disrupted globally due to COVID-19. This became a national issue, as supermarkets had their shelves emptied on several occasions.<\/p>\n\n\n\n
Moreover, Russia\u2019s invasion of Ukraine has further pressured grain exports. Closer to home, Malaysia had banned the export of its fresh chickens into Singapore as well. <\/p>\n\n\n\n
This is why our 30 by 30 (to produce 30% of our local nutritional needs by 2030) is so important. Given the importance of self-sustenance, it feels unlikely that Singapore will stop, to rest on its laurels, even after achieving the 30% target.<\/p>\n\n\n\n
Read Also: Jolene Lum, 24-Year-Old Founder Of Urban Tiller, Turned A Passion For Sustainable Agriculture Into A Fast-Growing Startup<\/a><\/em><\/strong><\/p>\n\n\n\n#3 Aviation<\/strong><\/h3>\n\n\n\nChangi Airport is one of Singapore\u2019s jewels (pun intended). During the National Day Rally speech, PM Lee confirmed that Singapore would restart construction of Terminal 5. <\/p>\n\n\n\n
The project had been abruptly halted due to COVID-19 \u2013 which disrupted air travel globally. However, with air travel gradually returning to normal, Singapore can leverage on the opportunity to stay at the forefront of the aviation industry with Terminal 5.<\/p>\n\n\n\n
The close to two years of downtime has also enabled the design of Terminal 5 to be future-ready and more energy efficient. T5 is expected to meet the anticipated demand around the mid-2030s.<\/p>\n\n\n\n
#4 Port (and Transshipment)<\/strong><\/h3>\n\n\n\nIn his National Day Rally speech, PM Lee reiterated that Tuas Port would only be fully completed in 20 years. This highlights the long-term significance of the project \u2013 and the fact that the port is expected to continue playing an integral role in Singapore\u2019s economy.<\/p>\n\n\n\n
PM Lee also touched on the fact that Singapore\u2019s ports were able to act as a \u201ccatch-up\u201d port during the pandemic \u2013 helping vessels make up for delays elsewhere. Partly, this is because of its efficiency, and also because plans were already underway to relocate to Tuas.<\/p>\n\n\n\n
This has helped Singapore uphold its status as the busiest transhipment hub in the world, handling record capacity in 2021. In fact, we can see this within the OCBC SME Index<\/a> – which measures the business health and performance of SMEs in Singapore. According to its latest figures, SMEs in the Sea Transport sector registered six consecutive quarters of growth since Q3 2020. <\/p>\n\n\n\n#5 Construction<\/strong><\/h3>\n\n\n\nConstruction is a clear winner, with long-term projects such as the Changi Terminal 5 and Tuas Port expected to take several decades to complete. With the port moving, the Greater Southern Waterfront will be take shape in the coming decades.<\/p>\n\n\n\n
Other notable projects that PM Lee mentioned includes the relocation of Paya Lebar Airbase in the 2030s. This will make way for around 150,000 new homes to be built (roughly the size of Punggol and Sengkang). Amenities, recreational areas and commercial areas will also be built alongside the new town.<\/p>\n\n\n\n
In addition, with the relocation of Paya Lebar Airbase, towns that skirt it could also be primed for redevelopment \u2013 PM Lee mentioned Marine Parade, Hougang and Punggol, where height restrictions may be lifted.<\/p>\n\n\n\n
In a clip, PM Lee also detailed other projects of note \u2013 the Jurong Lake District, Jurong Innovation District, Tengah, and Punggol Digital District.<\/p>\n\n\n\n
PM Lee also noted that Singapore depends on imports for its sustenance. Supply chains were disrupted globally due to COVID-19. This became a national issue, as supermarkets had their shelves emptied on several occasions.<\/p>\n\n\n\n
Moreover, Russia\u2019s invasion of Ukraine has further pressured grain exports. Closer to home, Malaysia had banned the export of its fresh chickens into Singapore as well. <\/p>\n\n\n\n
This is why our 30 by 30 (to produce 30% of our local nutritional needs by 2030) is so important. Given the importance of self-sustenance, it feels unlikely that Singapore will stop, to rest on its laurels, even after achieving the 30% target.<\/p>\n\n\n\n
Read Also: Jolene Lum, 24-Year-Old Founder Of Urban Tiller, Turned A Passion For Sustainable Agriculture Into A Fast-Growing Startup<\/a><\/em><\/strong><\/p>\n\n\n\n Changi Airport is one of Singapore\u2019s jewels (pun intended). During the National Day Rally speech, PM Lee confirmed that Singapore would restart construction of Terminal 5. <\/p>\n\n\n\n The project had been abruptly halted due to COVID-19 \u2013 which disrupted air travel globally. However, with air travel gradually returning to normal, Singapore can leverage on the opportunity to stay at the forefront of the aviation industry with Terminal 5.<\/p>\n\n\n\n The close to two years of downtime has also enabled the design of Terminal 5 to be future-ready and more energy efficient. T5 is expected to meet the anticipated demand around the mid-2030s.<\/p>\n\n\n\n In his National Day Rally speech, PM Lee reiterated that Tuas Port would only be fully completed in 20 years. This highlights the long-term significance of the project \u2013 and the fact that the port is expected to continue playing an integral role in Singapore\u2019s economy.<\/p>\n\n\n\n PM Lee also touched on the fact that Singapore\u2019s ports were able to act as a \u201ccatch-up\u201d port during the pandemic \u2013 helping vessels make up for delays elsewhere. Partly, this is because of its efficiency, and also because plans were already underway to relocate to Tuas.<\/p>\n\n\n\n This has helped Singapore uphold its status as the busiest transhipment hub in the world, handling record capacity in 2021. In fact, we can see this within the OCBC SME Index<\/a> – which measures the business health and performance of SMEs in Singapore. According to its latest figures, SMEs in the Sea Transport sector registered six consecutive quarters of growth since Q3 2020. <\/p>\n\n\n\n Construction is a clear winner, with long-term projects such as the Changi Terminal 5 and Tuas Port expected to take several decades to complete. With the port moving, the Greater Southern Waterfront will be take shape in the coming decades.<\/p>\n\n\n\n Other notable projects that PM Lee mentioned includes the relocation of Paya Lebar Airbase in the 2030s. This will make way for around 150,000 new homes to be built (roughly the size of Punggol and Sengkang). Amenities, recreational areas and commercial areas will also be built alongside the new town.<\/p>\n\n\n\n In addition, with the relocation of Paya Lebar Airbase, towns that skirt it could also be primed for redevelopment \u2013 PM Lee mentioned Marine Parade, Hougang and Punggol, where height restrictions may be lifted.<\/p>\n\n\n\n In a clip, PM Lee also detailed other projects of note \u2013 the Jurong Lake District, Jurong Innovation District, Tengah, and Punggol Digital District.<\/p>\n\n\n\n#3 Aviation<\/strong><\/h3>\n\n\n\n
#4 Port (and Transshipment)<\/strong><\/h3>\n\n\n\n
#5 Construction<\/strong><\/h3>\n\n\n\n