(Reuters photo)SINGAPORE - A key Singapore advisory panel on Thursday proposed a 10-year strategy aimed at ensuring annual economic growth of 2-3%, mainly centred on trade partnerships, deepening the workforce's tech skills and digitalising the economy. It also recommended a review of Singapore's tax system so that it remains pro-growth and competitive, while also "broad-based, progressive and fair" to adjust to an ageing society but it did not go into details over how that should be shaped. In 2016, Singapore's economy grew 1.8%, its lowest pace of growth since 2009, when the global financial crisis sent international trade plummeting. Asked about possible specific changes to the tax system, Finance Minister Heng Swee Keat said at a press briefing that will be addressed through a separate process, including consultations. The Asean Economic Community and the Beijing-favoured Regional Comprehensive Economic Partnership are key avenues to pursue such policies.

Source: Bangkok Post February 09, 2017 14:30 UTC