A view of the Singapore skyline and business district. (Image credit: Shutterstock)

A view of the Singapore skyline and business district. (Image credit: Shutterstock)

On a visit to JTC LaunchPad @ one-north — which houses about 500 startups and 35 incubators within three blocks — in October this year, Singapore’s Finance Minister Heng Swee Keat reportedly said that startups play an important role in Singapore’s future economic structure.

In an indication of that role, the composition of the 30-member Committee on Future Economy (CFE) announced today in a press release included the likes of Lim Der Shing, Venture Partner of Jungle Ventures and Co-founder and former CEO of JobsCentral Group, and Forrest Li, Founder, Chairman, and Group CEO of Garena.

JobsCentral, based in Singapore, is an online jobs portal which started in 2000. Garena, founded in 2009 in Singapore, is an online and mobile entertainment provider with a reported valuation of US$2.5 billion.

“We have not only put together a committee of diverse expertise and experience, but we will also engage key stakeholders and our people. Through this, we want to encourage everyone — employers, employees and individuals alike — to work with us to build a stronger economy for the future, and a Nation of Opportunity for all,” said Minister Heng, who will helm the CFE with Minister for Trade and Industry (Industry) S Iswaran, who will be deputy chairman.

Also Read: LaunchPad @ One-North: Blk 71 to get twin sisters – 73 & 79

The CFE will build on and update the Report of the Economic Strategies Committee (ESC) of 2010. It will address five areas crucial to Singapore’s future economic development:

  • Future growth industries and market
  • Corporate capabilities and innovation
  • Jobs and skills
  • Urban development and infrastructure
  • Connectivity

The process will see the CFE consulting with Trade Associations and Chambers, as well as the trade unions, to forge new strategies to develop Singapore’s competitive strengths. The CFE will also tap resource persons, such as thought leaders from the corporate world and in academia from both Singapore and abroad.

The CFE will also consult and engage widely to get a good representation of views from all sectors of the economy. They will seek the views of key stakeholders on challenges and opportunities, and draw on their ideas on how people and enterprises can play an active role in developing Singapore’s economic future.

The CFE aims to complete its work by 2016.

Also Read: The journey to a Smart Nation is most important: Aaron Maniam

The full composition of the committee is as follows:

1. Mr. Heng Swee Keat (Chairman), Minister for Finance
2. Mr. S Iswaran (Deputy Chairman), Minister for Trade and Industry (Industry)
3. Mr. Azmoon Ahmad, Senior Vice President and Member of Executive Management, Desay SV Automotive
4. Mr. Christian Bischoff, Founder and Executive Chairman, Pan Asia Logistics
5. Mr. Jean-Luc Butel, President, K8 Global, and Senior Advisor, McKinsey & Company
6. Mr. Bill Chang, Country Chief Officer, Singapore and CEO, Group Enterprise, Singtel Ltd
7. Ms. Cham Hui Fong, Assistant Secretary-General & Director, Industrial Relations, National Trades Union Congress
8. Mr. Chan Chun Sing, Minister, Prime Minister’s Office & Secretary- General, National Trades Union Congress
9. Mr. Edward Chia, Co-Founder and Managing Director, Timbre Group
10. Ms. Chia Yong Yong, Partner, Yusarn Audrey
11. Ms. Susan Chong, Founder and CEO, Greenpac
12. Mr. Vincent Chong, President and CEO (Designate), ST Engineering Ltd
13. Ms. Rachel Eng, Joint Managing Partner, WongPartnership
14. Ms. Goh Swee Chen, Chairman, Shell Companies in Singapore
15. Mr. Han Kwee Juan, CEO, Citibank Singapore Limited
16. Ms. Mariam Jaafar, Partner and Managing Director (Singapore), The Boston Consulting Group
17. Mr. Mark Lee, CEO, Sing Lun Holdings Limited
18. Mr. Forrest Li, Founder, Chairman and Group CEO, Garena
19. Mr. Lim Chow Kiat, Group Chief Investment Officer, GIC
20. Mr. Lim Der Shing, Venture Partner, Jungle Ventures, and Co-Founder and former CEO, JobsCentral
21. Mr. Harish Manwani, Group Global Executive Advisor, Blackstone, Private Equity, and former COO, Unilever
22. Mr. Ong Ye Kung, Acting Minister for Education (Higher Education and Skills)
23. Mr. Dilhan Pillay Sandrasegara, Head, Enterprise Development Group, Temasek Holdings
24. Mr. Saktiandi Supaat, Executive Vice President, Head of FX Research, Global Markets, Global Banking, Maybank Group
25. Mr. Tan Chong Meng, Group CEO, PSA International
26. Mr. Teo Siong Seng, Chairman, Singapore Business Federation
27. Mr. Russell Tham, Regional President (Southeast Asia) and Corporate Vice President, Applied Materials, Inc.
28. Mr. Fabian Wong, CEO, Philips ASEAN and Pacific
29. Mr. Lawrence Wong, Minister for National Development
30. Mr. Robert Yap, President, Singapore National Employers Federation