Three Views on Reserves: Political, Investment, and Entrepreneurship

 Three Views on Reserves:

Political, Investment, and Entrepreneurship

Three potential candidates provide three views on our reserves.  The first one needs no explanation.  It is a status quo, like the 3 past so-called elected presidents.

The second one is interesting. From an investment viewpoint, we seek maximum returns with calculated risks.  We want to see good and capable people in competition, using their best talents to provide the best goods and services.  Best companies fight among themselves, however, investors choose the winners and put money on them.

The third one is enterprising. A market of imperfect competition, free to go, free to join, regardless of big or small.  Entrepreneurs take risks by starting new businesses. However, the risk is high and most of them fail.     

Singapore political culture prefers the first two views. We want billionaires to come as the government says they can create jobs. As a financial centre, we provide facilities to help them make more profits and we receive fees or commissions.

We are not used to entrepreneurship.  We are not trained to take risks but helping others to minimise risk and maximise profits. High rent and high cost are bad for enterprises but have little impact on private offices.   

Local enterprises have their roots here. They cannot move away easily. They take risks here, grow the companies here. And yet, we don’t appreciate and value them.  

From the British colony to independence, our growth model is either administrative run, government-led investments or service provider. We are independent but not yet independent in entrepreneurship or enterprising.  

Will the coming presidential election make a difference? Moving away from political views and taking some risks in investment or enterprise.