Economic Strategy Review (ESR)

What is the Economic Strategy Review (ESR), and why is it important?

The ESR is Singapore's strategic plan to ensure we continue to grow, create good jobs, and stay competitive in a world that is becoming more contested and fragmented.

While Singapore's economy has served us well, the world it was built for is changing fast:

• Geopolitical tensions are making global trade less predictable;

• AI is changing what work looks like, where more can be done with fewer workers;

• The shift to a greener economy is disrupting entire industries; and

• Our population is ageing and workforce growth is slowing.

To navigate these changes, Singapore needs a clear strategy.

What does the ESR aim to achieve?

The strategy is anchored by three imperatives:

• Sharpen Singapore’s value proposition;

• Enhance our agility and adaptability; and

• Build resilience alongside efficiency.

The ESR recommends how Singapore can secure growth and create good jobs in today’s rapidly changing world. Through these recommendations, the ESR aims to help Singapore not only withstand the changes around us but also seize new opportunities and strengthen prospects for Singaporeans.

How will the ESR achieve this?

These imperatives shape eight thrusts:

• Build global leadership in areas of strength and invest in future growth

• Make Singapore a global leader in AI

• Strengthen Singapore’s role as a connected and trusted hub

• Foster a more dynamic enterprise ecosystem

• Create more and a broader range of good jobs

• Establish a stronger system for career transitions and worker support

• Empower workers to learn for life and take charge of their careers

• Build economic resilience

The ESR final recommendations set out not just where Singapore is headed, but how we get there, and what it means for workers, businesses and the economy.