PM Goh urges local talent to help ensure Singapore's success

Speaking to students at a forum late Tuesday, Goh said the success of Singapore was due to a "core group" of people in the private and public sector who helped keep the country going.

"This core group has to be self-renewed. Without this core group to look after the house there will be no economic growth and new wealth," Goh said.

"We have to get our ablest to see this point. They are part of the virtuous cycle of Singapore's success. If more of our best stay away from Singapore, this virtuous cycle will be broken," he said.

Singapore, founded in 1965 following its bitter separation from Malaysia, has managed to overcome the lack of natural resources, space and diverse cultures to become one of the world's most competitive trading hubs.

Goh also urged the students not to be close-minded to foreign talent, which the government has been actively attracting in its bid to make Singapore more competitive.

"A global knowledge economy needs a large pool of the best talents available to succeed. I should make it clear that our foreign talent policy is not an indictment of Singaporean workers and talents," he said.

Last week at parliament, the prime minister stated that Singapore was not yet a nation, since Singaporeans did not speak the same language, or share the same religion and customs.

He told the students Singapore was still in the process of developing a "multi-racial Singaporean tribe."

Singapore is predominantly Chinese, with Malays, Indians and Eurasians making up the rest of its more than three million population.