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Speech by Minister for Trade and Inducty
George Yeo
during the Committee of Supply Debate (Ministry of Trade
and Industry)
on 12 Mar 04
Full
speech on the MTI website (PDF file)
Here is an extract on the portions relating to the Southern Shores
A MORE VIBRANT ENVIRONMENT
31. Mr Leong Horn Kee asked if we were doing enough to build a vibrant
business environment so that we can be the London of Asia. We have
already done many things, and we will do many more. On Wednesday,
DPM Lee spoke about bungees and home breweries. We are liberalising
in a deliberate and controlled manner, sometimes experimenting along
the way.
32. Take One North, our new integrated science park at Buona Vista.
It is going to be a test bed for us. Earlier I talked about the mice
city, which we would not have allowed it elsewhere, and which would
have unsettled many Members of Parliament. We are going to introduce
personal transporters like the Segway at One North. Under existing
regulations, the Segway will have no market in Singapore. If it uses
the roads, it needs a COE. So, it is a non-starter. And because it
is motorised, it is not allowed for use on our jogging and cycling
tracks. So, the only place you can use it in Singapore is in your
own private compound. And it costs too much for you to keep it as
a toy back home. We are going to allow it at One North. We will allow
personal transporters on pedestrian walkways and certain designated
roads, and then let us watch what happens. If there are problems,
then we may tighten the rules. If there are no problems, then maybe
we can relax the rules for other parts of Singapore. And there will
be other experiments that we will conduct at One North.
33. On Sentosa Cove and the Southern Islands, we will turn a part
of Singapore into an iconic international resort and residential development.
On Wednesday, DPM Lee announced that we will allow the sale of landed
properties at Sentosa Cove to foreigners.
34. Sentosa Cove is a distinctive waterfront residential development,
complete with marinas and clubhouses. In the coming months, we will
proceed with the sale of more land at Sentosa Cove. 35. We intend
to integrate the development of the Southern Islands with Sentosa
Cove and the rest of Sentosa. The Islands will be linked to Sentosa
either by boat or by a bridge. For Members who are not familiar with
the Southern Islands, I have circulated two maps. As you can see,
the Southern Islands have already been enlarged by reclamation.
36. We will create on Sentosa and the Southern Islands a world-class
resort and residential development of over 500 hectares. There will
be a comprehensive range of facilities, including beautiful beaches,
hotels, private residential homes, marinas, sports complexes, convention
centres, health spas, retail and F&B outlets, venues for international
shows and theme attractions.
37. We are keeping an open mind on what to have in this development,
including the possibility of having a casino. Of course, if we decide
to have a casino, we will need to put in place control measures to
limit its access by Singaporeans and to make sure that there is no
organised crime.
38. We will engage international consultants to help us map out the
possibilities. An illustration of what is possible can be found at
Atlantis on Paradise Island in the Bahamas. This is only an illustration,
and what we create eventually will probably not look anything at all
like Paradise Island. It will be, and it will have to be, uniquely
Singapore.
39. What we envisage is an international facility separate from Singapore
but accessible to all Singaporeans, with more relaxed rules to attract
international talent, visitors and investments. It will help us maintain
our position among the front rank of cities in 21st century Asia.
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