For enquires, please call
Ms Lim Soh Lee at IPS,
Tel.:6779-2633

The government announced in October 2001 the establishment of the Economic Review Committee (ERC) under the leadership of Deputy Prime Minister Lee Hsien Loong "to fundamentally review our development strategy and formulate a blueprint to restructure the economy, even as we work and ride out the current recession".

The Institute of Policy Studies (IPS), as a public policy think tank, convened a forum in January 2002 to identify and analyse some of the major economic issues confronting Singapore and offer possible solutions to overcome them. This forum, called the IPS Forum on Economic Restructuring (IFER), drew its more than 80 members from the private sector, public sector and academia.

Their seven-month long deliberations are contained in this IFER report which is a culmination of their own knowledge and experience, gathered over many years in their respective fields of expertise.

The basic aim of IFER is to contribute to the important work of the ERC, and has the following objectives:

• provide an additional perspective on the problems and issues currently faced by the Singapore economy.
• support the correct policies that have been implemented and offer alternative suggestions with regard to policies that it disagrees with.
  
• serve as a useful source of reference for future policy makers, business practitioners and academic researchers who are interested in a small open economy such as Singapore.\

Despite all the differences of backgrounds and perspectives among them, IFER members were united by one unwavering article of faith: the desire to see Singapore succeed.

The IFER Report: Restructuring Singapore Economy, Singapore: Times Academic Press for IPS, ISBN 981 210 239 6