Economic Defence

Economic Defence is the government, business and industry organising themselves in such a way that our economy will not break down in war or under the threat of war. It means putting in place contingency plans to ensure that our offices and factories will be able to continue their operations during emergencies, even after National Servicemen (NSmen) and equipment have been mobilised to deal with the emergencies. Economic Defence involves the economic sector sharing material and manpower resources to meet the needs of Civil and Military Defence. At the level of the individual, Economic Defence requires the cultivation of a good working attitude and constant upgrading of one's skills. This is necessary to help Singapore stay ahead of the competition.

What it means?

Staying relevant and competitive through rapid change and development
When we upgrade our skills and knowledge, it helps us to stay relevant and employable in this rapidly changing world. Our ability to embrace lifelong learning and re-training is vital to keep our economy competitive.

Putting in place robust economic systems that can continue to function in times of crisis.
When our economic fundamentals are strong, our economy will not break down so easily in times of war or crisis. Sound policies and practices help us withstand external shocks. Putting in place business continuity measures and stockpiles of essential items also helps to keep our economy going during times of crisis.

A note from Jeffrey;

At the level of the individual, it will requires the cultivation of a good working attitude and the constant upgrading of one’s skills. This is necessary to help the Singapore economy stay competitive so that the government, business and industry will organise themselves in such a way that our economy will not break down in war or under the threat of war. =)