SINGAPORE, Feb. 18 (Xinhua) -- Singaporean Deputy Prime Minister Teo Chee Hean said here Sunday that the government would continue to help companies and trade unions in their economic transformation through the employment of technologies and the training of the workforce.

Teo, who also acts as the Coordinating Minister for National Security, made the remarks while delivering a speech at a lunar new-year reception, timed one day ahead of the government's scheduled release of the draft budget.

He noted while people might anticipate a big red packet from the budget, it's more important that continuous efforts are made in pushing the economic growth.

He anticipated that Singapore would register a GDP growth between 1.5 and 3.5 percent this year, compared with 3.6 percent last year.

The deputy prime minister also stressed that the government would work to ensure enough financial resources put aside for the future, while the country is seeing a growing aging population.

Around 900 guests took part in the reception, which was jointly hosted by the Singapore Chinese Cultural Centre (SCCC) and Singapore Federation of Chinese Clan Associations (SFCCA).

President of the SCCC and Chairman of the SFCCA Chua Thian Poh said that the SCCC will lead initiatives in the coming year to nurture a "distinctive local Chinese culture and enhance social harmony."

For instance, the SFCCA will partner the Lee Kuan Yew Fund for Bilingualism to curate a mobile art exhibition, and give young people the opportunity to plan community events.

Also present were several governmental ministers, members of the parliament, diplomats and representatives from different social organizations.