Singapore Prime Minister Lawrence Wong pledged additional assistance for employees and families, and stated that his administration would intensify efforts to secure energy supplies and draw in investment as the city-state navigates rising global uncertainty.

Speaking at the ruling People's Action Party convention on Sunday, Wong noted that leading semiconductor firms were eager to grow their operations in Singapore and artificial intelligence companies were setting up offices there. He recognized that the advantages of economic growth were not evenly distributed, as certain workers find it hard to cope with escalating costs while others are anxious about keeping their jobs.

"Our task is not just to keep the economy growing," Wong said. "It is to make sure that growth translates into better lives for all Singaporeans."

Singapore confronts growing dangers of energy supply interruptions, intensifying worries about its reliance on foreign resources. The vulnerabilities to the nation's economy were highlighted by Indonesia's move to reduce gas exports on Saturday.

Wong indicated that Singapore anticipated its gas supply agreements would be respected following Indonesia's announcement of export reductions on Saturday. Indonesia stated it was decreasing pipeline gas exports to Singapore by roughly 31 million standard cubic feet per day to satisfy domestic power needs.

"We expect all parties to honour their commitments and Singapore's gas importer will take the necessary steps to protect its rights and interests under these contracts," he said.

Singapore has put money into liquefied natural gas import facilities to broaden its supply sources and is also earnestly evaluating nuclear energy as a longer-term option, according to Wong. Although safety issues in the heavily populated city-state need to be resolved, he warned against rejecting the technology outright.

"Safety must come first, but we should not rule out an option simply because it is difficult or controversial," he said.

The surge in AI and semiconductor investments presents chances for the trade-dependent nation to bring in capital and generate higher-paying positions, and Wong mentioned he had encountered executives from major tech companies in the past month who were keen to broaden their Singapore activities. Startups are increasingly seeing the country as a platform for expansion, while AI companies such as OpenAI and Anthropic have opened offices.

Singapore is enhancing its global involvement to maintain that momentum, Wong said, citing his recent trips to Qatar and the United Arab Emirates. The nation's standing as a dependable partner was growing more crucial in attracting investments and generating jobs, he added.

Singapore's economy grew 5.4% in the third quarter, decelerating from 6.2% growth in the second, based on preliminary official figures earlier this month.

Nevertheless, Wong conceded that robust headline economic figures concealed the strains confronting segments of the population. Lower-wage employees were worried about living expenses, while those in their 40s and 50s dreaded challenges in securing employment after being laid off.

He committed to additional steps to alleviate household costs and reinforce support from education through retirement, expanding on programs for families with children revealed at this year's National Day Rally.

"There is much more to come, and we have a full agenda in this term of the government," Wong said.