DPM Keat champions S’pore as global-Asia node, roots for cross-border collab

He also outlined efforts to bolster the research, innovation, and enterprise ecosystem.

Deputy Prime Minister Heng Swee Keat voiced Singapore's role as a global-Asia node for technology, innovation, and enterprise, citing its robust regulatory frameworks and extensive network of agreements. He advocated for deeper connection and collaboration domestically and internationally to unlock economic value and address global challenges.

During the debate on the Budget Statement yesterday, the DPM highlighted areas of focus on economic growth and transformation. 

Acknowledging global challenges such as slow growth and high inflation, he emphasised the need for comprehensive support packages like the Enterprise Support Package and enhanced Assurance Package to aid companies and households. 

Despite external and internal challenges, he remained optimistic about Singapore's prospects, citing past economic achievements and the need for structural changes.

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Keat emphasised the importance of sustained economic transformation, referencing initiatives like the Industry Transformation Maps (ITMs) and the role of tribalism in fostering collaboration between government, businesses, and unions. 

Notably, he highlighted the success of Singapore's transformation efforts, pointing to positive indicators such as productivity growth and income rise.

Discussing the innovation ecosystem, Keat stressed the significance of technology-intensive and sustainability-focused growth. 

He outlined efforts to bolster the research, innovation, and enterprise (RIE) ecosystem, including increased funding and collaboration with local and global stakeholders. Keat also underscored the importance of nurturing entrepreneurial talent and supporting deep tech startups.