According to the President, the COVID-19 endemic amplifies the financial pressures faced by Singaporean workers.

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Singaporean President Halimah Yacob (center) speaks at the opening of the 14th Parliament. (Photo: www.todayonline.com)

To create more jobs, the country urgently needs to transform its economy and seek new ways to ensure livelihoods for its people.

Yacob stressed that the Singapore Government should consider how to strengthen social safety network so that people can better cope with risks in their lives.

During its economic transition, Singapore needs to gradually resume the aviation industry, strengthen the region's digital connectivity, and further reinforce resilience in key sectors such as food, healthcare and supply chain management to create momentum for new sources of growth.

Previously, Deputy Prime Minister and Finance Minister Heng Swee Keat said the Singaporean Government will spend 8 billion SGD (5.8 billion USD) to support companies to maintain and create jobs for labourers, and fully tap opportunities for economic growth.

As Singapore's economy in the second quarter of 2020 witnessed its worst growth in history and the COVID-19 pandemic remains complicated, Singapore will promote economic recovery strategies, focusing on creating new jobs, supporting industries that most affected by the health crisis, and utilizing growth opportunities.

Source: VNA