Southeast Asia Information Port (www.dnyxxg.com) – Singapore recently announced a comprehensive assessment plan for its long-term national economic strategy, establishing a high-level working group comprised of five task forces. This initiative aims to ensure the country's economy remains highly resilient amidst significant changes in the global geopolitical structure and escalating technological disruptions.
Singapore's Deputy Prime Minister and Minister for Trade and Industry, Gan Kim Yong, announced the new initiative, titled "Economic Strategy Assessment." He stated that the new assessment builds upon a comprehensive analysis of previous economic assessments, incorporating new concepts and methodologies. This plan is also a key task of the Singapore Economic Recovery Task Force, established in April this year to help businesses and the workforce adapt to the uncertainties brought about by the new US tariff policies.
The assessment process includes extensive consultations with businesses, workers, and other key stakeholders over the coming months. Five task forces are expected to release reports and recommendations by mid-2026, focusing on five key areas: enhancing Singapore's global competitiveness by updating its comparative advantages; leveraging technology and innovation to drive broad-based growth and seize emerging opportunities; fostering a vibrant entrepreneurial ecosystem; supporting startups throughout their development, from establishment to expansion, improving the quality of the nation's human resources, providing favorable conditions and quality employment opportunities for Singaporean workers; and effectively addressing the impact of economic restructuring to ensure that all citizens share in the fruits of future development. (End)
