Economy & Finance
Economic Strategy Review (ESR) Mid-term Update
30 January 2026
As Singapore enters a new phase of its economic journey in a more complex global environment, growth will be harder to achieve. We can also no longer assume good jobs automatically come with growth. We must be more intentional in our strategy.
The Economic Strategy Review (ESR) has proposed 7 key moves to keep Singapore trusted, competitive and connected - while creating good jobs and opportunities for Singaporeans.
7 Recommendations to Drive Growth and Create Good Jobs
1) Establish Singapore as a global leader in key growth sectors | • Harness Al, automation and sustainable technologies to transform advanced manufacturing • Tap on our reputation to grow a trust industry • Capture higher-value jobs and new opportunities for Singaporeans |
2) Pursue emerging opportunities to create new growth engines | • Invest in areas such as quantum and space tech • Attract and nurture globally-leading enterprises • Sustain a vibrant start-up ecosystem and entrepreneurial culture, with more support for high-potential start-ups |
3) Establish Singapore as a global Al leader | • Position Singapore as a place to develop, test, deploy and scale impactful Al solutions • Drive Al adoption across the economy to lift productivity • Support firms and SMEs to transform and benefit from Al |
4) Help our firms internationalise and connect globally | • Invest in transport hubs and networks for new supply chain opportunities • Strengthen trade cooperation • Help firms venture overseas and bring value back to Singapore through higher-value jobs and additional revenue |
5) Broaden the range of good jobs across the economy | • Uplift and transform jobs in sectors that can better withstand global shifts • Including jobs in skilled trades and care and social services • Nurture a new generation of founders to build the next wave of enterprises and jobs |
6) Empower every worker to take charge of their career | • Make lifelong learning a practical reality by blending training with work • Build Al literacy across the workforce • Strengthen career transition support via better career guidance, job matching and placement services |
7) Enable businesses to proactively navigate transitions | • Help firms better understand and shift to more viable opportunities as the economy restructures • Review tools and resources available to business leaders |
ESR Mid-term Update Media Interview
