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Economy

Interview: Singapore needs new mindset to be an innovation hot spot

Deputy PM Teo on what makes the state competitive -- and what needs to change

| Singapore

SINGAPORE To prosper as an international hub, Singapore needs a change of mindset, according to Deputy Prime Minister Teo Chee Hean, who also sees "many opportunities" to work with China as its enters a new phase of growth.

Teo, who also serves as coordinating minister for national security and chairman of the National Research Foundation, told the Nikkei Asian Review that Singaporeans must take more risks and be prepared to fail -- and then try again.

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