Fellow colleagues,

        I am delighted to join everyone today on the grounds of the BCA Academy to mark Singapore's 43rd year of nationhood. The theme for National Day 2008 is "Celebrating the Singapore Spirit." It is a very appropriate theme. The Singapore Spirit has sustained us since independence. It has galvanized us as a people, strengthened our cohesiveness, and united us in adversity.

2       This year's celebration comes in the midst of a number of uncertainties. Oil and commodity prices have risen considerably. Inflation in Singapore is affecting many, in particular the low-income families. The credit crisis in the US has raised concerns of a possible worldwide economic slowdown. Above all, there are the broader changes in the global climate, which could impact the very way life is lived on this planet.

3       In short, challenging times lie ahead of us and the road forward will be bumpy. Yet, we can be confident that our Singapore Spirit - the national ethos of tenacity and perseverance - will see us through. Singapore has gone through difficult periods before, but working together as one nation and one people, we have been able to overcome the odds to reach where we are today.

4      We have several reasons to be optimistic about the future. Our economic fundamentals remain strong. We should still be able to achieve good growth this year. Jobs continue to be created. And our persistent efforts to make this dear city-state of ours both lively and liveable are beginning to bear fruits.

5      Our vision is for a Singapore that is buzzing with economic opportunities, yet offering a quality living environment for all to enjoy. In this regard, I am co-chairing the Inter-Ministerial Committee on Sustainable Development to develop a blueprint to provide for not only economic and population growth, but also a quality living environment. Sustainable development is, in fact, not new to Singapore. It has been our model of development since independence. The MND family can be proud of our many contributions in this area.

6      Let me sketch for you what we can broadly expect in the coming years. For a start, Marina Bay, our new downtown, will be a flagship project that highlights our holistic land use strategies and sustainable development practices. Today, the area sees a flurry of construction activity. But in just a few years time, many of the infrastructure works and public spaces would be completed, and the public can look forward to a totally transformed waterfront where all could come to enjoy.

7      Just this past year, key initiatives as part of the Master Plan 2008 were unveiled. We announced new plans for the Jurong Lake District, Paya Lebar Central and the Kallang Riverside. We want to develop these locations as part of overall efforts to better manage travel patterns, provide alternative locations for businesses and revitalize suburban centres. In future, these areas will be transformed into regional commercial centres, with offices, shops and entertainment facilities.

8      Next, let me turn to public housing, which we all know is one of Singapore's success stories. We have planned for our public housing estates to be self-sufficient, such that residents have easy access to facilities and amenities, and the need to travel is reduced. Our HDB blocks are also designed to harness the elements of nature for ventilation and lighting, thus reducing energy consumption. The new eco-precinct project that HDB is building, called Treelodge@Punggol, will further demonstrate the practicality of innovative sustainable design in a public housing setting. Going forward, we will invest in a better quality living environment through more greenery, as well as focus our attention on improving energy efficiency of households and the common areas in our public housing estates.

9      Indeed, public appreciation of green spaces for their environmental and recreational value seems to be increasing as our city continues to urbanize rapidly. This, and the international brand name we have built, validates the City-in-a-Garden concept we have embarked upon, seeking to expand our greenery despite land constraints. The Park Connector Network is one important green infrastructure development that makes use of limited land space to create additional green recreational spaces and bring people closer to nature.

10       Even as we expand the network progressively, we are looking to add a new, more sustainable, vertical dimension of greenery to our highly built up urban environment through the promotion of pervasive skyrise greening. We must also aim to make the most of our parks and gardens by transforming them into lively and active recreational grounds to meet the lifestyle aspirations of our people.

11       As a densely built-up city-state, it is important as well for us to emphasise the environmental friendliness of our built environment. In recent years, we have made good progress with the green building movement in Singapore. And in April this year, Singapore became one of the few cities where new buildings have to meet minimum green building standards. In the future, the key challenge is get our existing building stock to be environmentally sustainable. To achieve this, BCA is working on a slew of new initiatives and incentives to promote greater adoption of the Green Mark standard among existing buildings.

12       We also have in place a robust food safety system, which ensures that the food on our tables is safe. However, we confront a different challenge today. The world has been facing soaring food prices, as a result of supply and demand imbalance as well as rising fuel costs. With our strategy of diversifying food sources, we have allowed our food industry to continue to import food from many alternative sources at competitive prices. But more can be done. Thus we are currently examining medium to longer term solutions in securing a resilient food supply for the nation.

13      To conclude, I am confident that a better Singapore awaits all of us. There may be some short-term adjustments which we would have to manage, but by developing in a sustainable manner, we will be more competitive as an economy, and more liveable as a city. There is much work to be done. But together, with the support of businesses and the community, I am confident we will build a better Singapore for ourselves and for generations to come, making this a distinctive global city and our endearing home.

13      With that, let me thank everyone for your hard work, and may I wish each of you a very Happy National Day. Thank you.

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