Ministry of Trade & Industry |
Redoubling Efforts to Keep Singapore’s Economy Strong and Resilient, a Home to Leading Firms Capture opportunities in new growth areas such as the green and digital economy Strengthen advanced manufacturing by leveraging AI, robotics and biotechnology Sustain investments in research and development to encourage and support enterprises to innovate new products and services and bring them to market faster Anchor leading local and foreign firms in Singapore by: Helping promising local enterprises internationalise and grow into regional or global leaders Supporting companies’ transition to a low carbon economy
Enhancing Singapore’s Connectivity to the Global Economy Deepen relationships with major economies, manage global uncertainties and unlock new opportunities for our companies
Expand trade links with emerging markets and expand our network of Digital and Green Economy Agreements
Work with like-minded partners to support the rules-based trading system and reforms at the World Trade Organization
Creating More Opportunities for Singaporeans while Navigating a Changed World Ensure Singaporeans benefit from economic growth by: Partnering industry, unions and educators to equip our people with skills that are future-ready and industry-relevant Facilitating career transitions into growth sectors
Help workers and businesses adapt to the new economic landscape through the Singapore Economic Resilience Taskforce, including an Economic Strategy Review to chart a forward-looking blueprint for our economy, businesses and workers.
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Navigating the Future of Work: Empowering Our Workforce to be Future-ready and AI-ready Support broad-based AI literacy and adoption across the workforce as part of the Economic Strategy Review and National AI Strategy.
Drive the Career Health SG initiative as part of the SkillsFuture movement, to help Singaporeans navigate the fast-changing job market with confidence.
Co-develop innovative solutions with the private sector through Alliance for Action on Advancing Career & Employment Services.
Supporting Career Longevity: Enabling Longer, Multi-stage Career Pathways and More Flexible Forms of Work The Tripartite Workgroup on Senior Employment will reimagine ways to drive career longevity, engage Singaporeans on their aspirations, and partner forward-thinking employers to co-create innovative age-friendly jobs and multi-generational workplace solutions.
Strengthen the CPF system so that those who contribute consistently to their CPF can be assured of meeting their basic needs in old age. This includes raising the Basic Retirement Sum for future cohorts to help Singaporeans build up more savings for their retirement years.
Continue to provide support for those who, despite their best efforts, may not be able to set aside enough through schemes like the Workfare Income Supplement Scheme, the Matched Retirement Savings Scheme, the Silver Support Scheme, and the Earn and Save Bonus under the Majulah Package.
Expanding Opportunities: Supporting Businesses to Grow Talent and Stay Competitive Launched the Tripartite Workgroup on Human Capital Capability Development and introduced the Enterprise Workforce Transformation Package.
Support Singaporeans in gaining global exposure for professional development and future leadership, through programmes like the Overseas Markets Immersion Programme.
Refine our foreign workforce policies so businesses can bring in talent that complements our Singaporean core, and ultimately create more jobs and opportunities for Singaporeans.
Ensuring Inclusive Growth: Building Fairer, Safer, and More Inclusive Workplaces Assure employees and jobseekers of fair treatment and safeguard harmonious workplaces through the Workplace Fairness Act.
Reinforce workplace safety and health.
Update the Employment Act to ensure adequate protections for different groups of workers, to keep up with new workplace and technological trends, while streamlining compliance for businesses.
Safeguard platform workers’ livelihoods, safety and wellbeing through the Platform Workers Trilateral Group.
The SkillsFuture Jobseeker Support scheme helps those who have lost their jobs find their way back on the pathway to opportunity.
Lower-wage workers will have continued wage increases under the Progressive Wage Model and added support to upskill and reskill via Workfare Skills Support.
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Prime Minister’s Office (Monetary Authority of Singapore) |
Promoting Stable, Non-Inflationary Economic Growth Stay vigilant to the impact of global developments on growth and inflation. Ensure timely and appropriate monetary policy response if cyclical economic conditions weaken unexpectedly during this period.
Trusted and Resilient Financial Centre Uphold Singapore’s standing as a trusted financial centre through robust supervision and risk proportionate regulation.
Continue to work with the financial industry and other Government agencies to protect Singapore’s financial system from illegal activities. Continually consider other safeguards to fight scams, such as stronger user authentication to prevent unauthorised transactions.
Leading and Innovative Financial Centre Continue to work with financial institutions to deepen capabilities across key asset classes such as banking, foreign exchange, insurance, asset and wealth management, and payments. Support AI capability building in financial services through the Financial Sector Technology and Innovation Grant Scheme and the Pathfinder program. Facilitate industry efforts to expand the use of tokenisation in financial assets transactions to achieve greater efficiency and lower cost. Support the region’s transition to a low-carbon economy. The launch of Financing Asia’s Transition Partnership (FAST-P) will facilitate the deployment of up to USD $500 million of concessional capital from the Government, to mobilise up to $5 billion of capital from other partners, to promote innovative blended finance solutions. Upskill our financial sector workforce to work effectively with AI, and support the growing sustainable finance market.
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Prime Minister’s Office (National Research Foundation) |
Singapore’s Long-term R&D Investments in Science and Technology have Contributed Significantly to the Nation’s Progress We have built a world-class research and talent base, and a vibrant Research, Innovation and Enterprise (RIE) ecosystem. This benefits our economy and society, both directly and indirectly. Sustained RIE investments in semiconductors have positioned Singapore as a critical node in the global semiconductor supply chain. Our biomedical sciences research capabilities have contributed to healthcare improvements and helped us manage crises like the Covid- 19 pandemic more effectively. At a broader level, our international research partnerships reinforce Singapore’s position as a trusted Global-Asia node of technology, innovation and enterprise.
Through our RIE 2025 Plan, the Quality of Talent and Research in Public Institutions has Risen, and Private Sector R&D has Increased One measure of research quality is the Field-Weighted Citation Impact which, for Singapore, grew from 1.47 in 2014 to 1.74 in 2024; this is 74 per cent above the global average. Our universities, A*STAR and academic medical centres are well regarded globally, with NUS and NTU among the top 5 in the QS Asia University Rankings 2025. MNCs, SMEs and start-ups partner with our research ecosystem to develop new products and services through platforms like company R&D centres, with over 20 corporate laboratories and Centres of Innovation. Business Expenditure on R&D (BERD) has also increased from S$5.5 billion in 2018 (1% of GDP) to S$8.1 billion (1.2% of GDP) in 2022, while venture capital investments in early-stage deep tech deals have more than tripled from S$478 million in 2020 to S$1,556 million in 2023.
Building on RIE2025, RIE 2030 Aims to Achieve Even Greater Societal and Economic Impact In RIE2030, we will keep our basic research capabilities, talent and infrastructure at the cutting-edge.
We will initiate cross-cutting R&D programmes such as RIE Flagships and RIE Grand Challenges to drive stronger outcomes in key economic areas and national priorities.
We will continue to develop strong AI and compute research capabilities to boost and accelerate research and innovation.
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