Mr Chan said he is most worried about people becoming too comfortable, which could make it hard for Singapore to deal with a changing world.

He said that with each year of success, Singaporeans might think they will always be safe, but this is not true.

Instead, Singapore must keep working to stay important in the world.

Mr Chan said Singapore's 61 years of independence are unusual in Southeast Asian history because small cities usually struggle to stay independent.

Singapore has succeeded by staying connected to the world, which is necessary for its survival.

Mr Chan used the examples of the Russia-Ukraine war and the Israel-Hamas conflict to show that warning signs often appear before fighting starts, but people often ignore them.

He said that feeling too safe can make people less able to respond to problems.

Mr Chan said that on the economic front, many challenges can be seen coming, such as countries using geography and supply chains as weapons.

He asked if Singapore is taking these challenges seriously and preparing for them.

Mr Chan outlined five priorities for Singapore, saying it should focus on what it can control.

The first priority is to avoid trouble by working with other countries instead of pursuing short-term interests.

The second priority is to be consistent in making and carrying out policies to give investors confidence.

Mr Chan said that being consistent is a key advantage that Singapore can create for itself.

The third priority is for Singapore to remain open and connected to the world despite trade barriers and digital protectionism.

The fourth priority is for Singapore to stay relevant by building capabilities that others cannot easily replace.

The fifth priority is for Singapore to strengthen its resilience by diversifying its supply chains and export markets.

Mr Chan said that the US is an important partner in regional security and Singapore wants it to continue playing a constructive role.

He said that economic security and military security are closely linked.

Mr Chan said Singapore wants to work with the US to create a more peaceful and prosperous region.

Singapore's approach is based on a long-term perspective, not on any particular US administration.

He said that this perspective is not dependent on any one person or administration, but on a long-term, reliable relationship with the US.