SINGAPORE, Aug 9 — Singapore’s economy is holding steady and expected to grow by between 2.5 and 3.5 per cent this year amid global uncertainties, said Prime Minister Lee Hsien Loong.

Lee said the country was attracting more quality investments and unemployment remained low.

“We grew by two per cent in the first half of 2013, and expect to grow by 2.5-3.5 per cent this year, higher than previously expected.

“Even as we tighten up on foreign workers and immigration, we must maintain investor confidence and keep Singapore open for business,” he said in his National Day message today.

Lee said the world was changing rapidly and unpredictably.

He said jobs had become less secure, wages were rising more slowly or even stagnating, families were working harder, and parents worried whether their children will do better than themselves.

“Singapore is changing too. The economy is maturing and our population is ageing. Different groups in society now have more diverse and even conflicting interests,” he said.

Lee said the road ahead will be different from the road “we have travelled.”

“So we must reassess our position, review our direction, and refresh our strategies to thrive in this new world,” he said.

He said Singapore must stay ahead of the competition, and maintain it standing in the world.

“To succeed under changed circumstances, we must adapt our basic approach to nation building. We must strike a new balance between the roles of the individual, the community and the state,” he said. — Bernama