Updated: 10/30/2013 21:40 | By Channel NewsAsia
Former minister Lim Hwee Hua launches book on govt’s role in businesses
SINGAPORE: A new book aims to shed light on the government's role in businesses and private enterprises.
The book, called “Government in Business - Friend or Foe?” was written by the former Second Minister for Finance and Transport Lim Hwee Hua and launched on Wednesday evening.
The book contains various case studies that cover Singapore, China and the rest of Asia, the European Union, and the Americas.
In a speech, Mrs Lim said government need not apologise for its role in business, as state involvement -- usually as an investor -- is needed for essential goods and services.
She noted that governments should not insist on a dogmatic policy stance as markets are becoming increasingly borderless and technology enables quantum leaps to be made in many spheres.
She also pointed out that beyond the ownership of assets and businesses, governments have a range of possibilities to influence or guide the conduct of business.
Mrs Lim also spoke at a seminar which included a panel discussion on the same topic.
Panellists included chairman of Changi Airport Group Liew Mun Leong.
Mr Liew, who is also provost’s chair professor at NUS Business School, said: "If some governments overplay their role of over-regulating, whether it's finance, real estate, or telco, then it's something which becomes adversary -- I wouldn't say a foe, but it will become adversary.
"Then you find that the private sector have to keep on balancing themselves to meet the challenges of the government.
”That will be a point or threshold where you are over-regulating or you are over-supplying something." - CNA/nd
