Singapore Commits S$37 Billion to Research, Innovation and Enterprise to Drive Future Growth
Singapore has announced a major investment of S$37 billion under its new Research, Innovation and Enterprise (RIE) 2030 plan, aimed at strengthening key sectors such as semiconductors, digital technology, sustainability and healthy ageing. This marks a 32% increase from the previous RIE plan and continues the country’s commitment to spending around 1% of GDP on research and innovation.
Under RIE2030, around S$10.8 billion will go towards four main areas: manufacturing and connectivity, human health, urban solutions, and the digital economy. Each area will now manage its own innovation strategy, allowing more focused and practical outcomes. The plan also supports early-stage research, business innovation, and stronger links between research and industry.
Confidence Despite the Uncertainties
Despite global uncertainty, multinational companies remain confident in Singapore’s research ecosystem. The interest in local R&D remains strong, especially in areas aligned with global demand such as semiconductors and deep tech. In fact, tech startups in Singapore have attracted over S$1 billion in funding each year over the past five years.
A key highlight of the RIE2030 plan is the launch of new “Flagship” programmes. One of the first focuses on semiconductors, aiming to grow advanced capabilities such as chip packaging, photonics, and system integration. This will help Singapore stay competitive as global demand for chips continues to rise.
Strengthening Future Industries Through Ageing Research, Talent and Global Collaboration
Another major focus is ageiing. With one in four Singaporeans expected to be over 65 by 2030, a new national research effort will look at improving long-term health, slowing physical decline, and supporting active ageing. This includes better data systems, long-term studies, and testing new health solutions.
The plan also supports global collaboration, including participation in Europe’s Horizon research programmes, and places strong emphasis on talent development across science, engineering and data fields.
Overall, the Research, Innovation and Enterprise (RIE) 2030 strategy aims to strengthen Singapore’s long-term competitiveness, grow future industries, and ensure research delivers real economic and social impact. The results, however, may take some time to show.
