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Singapore’s Digital Economy Fuels GDP Growth: Almost Doubles in Five Years In a report by Singapore’s Infocomm Media Development Authority, Singapore’s digital economy significantly contributed to its GDP, exceeding 17% in 2022. This is up from 13% in 2017. Furthermore, the total value of this digital economy reached SGD 106 billion in 2022, a substantial…
Singapore, Malaysia, and Indonesia Come Together for Regional Supply Chain and Manufacturing Singapore is fortifying its regional bonds with Malaysia and Indonesia to harness the evolving global manufacturing landscape. Jacqueline Poh, the Managing Director of Singapore’s Economic Development Board (EDB), unveiled this strategic alliance during a prominent LSEG and Reuters Newsmaker event. The three countries…
UK-Singapore Partnership: A Strategic Alliance for Prosperity and Security The Singapore government has sealed a pioneering partnership with the UK to bolster economic growth and enhance shared security. This monumental UK- Singapore partnership marks the United Kingdom’s first treaty since its departure from the European Union. The G20 Summit: A Venue for Collaboration British…
MAS Strengthening AML Framework for Single Family Offices in Singapore In a bid to close AML loopholes and standardize licensing exemption criteria for Single Family Offices (SFOs), the Monetary Authority of Singapore (MAS) has proposed a new AML framework. This move comes as SFOs witness strong growth in Singapore, prompting concerns about potential money laundering…
MOM Unveils the New Singapore Workplace Fairness Legislation In a significant move to bolster workplace discrimination protection, Singapore’s Ministry of Manpower (MOM) has unveiled new details about forthcoming workplace fairness legislation addressing this pressing issue. The proposed legislation seeks to enhance worker protection, promote fairness, and reinforce equitable employment practices. Current Framework The Tripartite…
Singapore Avoids Technical Recession with Sufficient Economic Growth After growing slightly in the second quarter of this year, Singapore avoids technical recession by a narrow margin. The slowdown in the second quarter was because China’s global demand weakened, impacting trade flows. Seasonally, Southeast Asia’s economy grew 0.3% (quarter-on-quarter). This was followed by a 0.4 contraction…
Supply Chain Management Talents Growing Rapidly in Singapore Supply chain management talents are rapidly growing in Singapore, with 700 new jobs and training initiatives to be launched by 2025. The aim is to position Singapore as the supply chain management (SCM) hub manufacturers want to be. Professionals, managers, executives, and technicians (PMETs) will stand to…
What You Need to Know About AI and Data Analytics Talent Development Programme Singapore’s financial sector is embarking on an exciting journey of innovation and growth with the launch of the Artificial Intelligence and Data Analytics (AIDA) Talent Development Programme. As part of the National AI Programme in Finance, the AIDA will help to address…
CAD and ISCA Agree to Increase Financial Forensic Experts An MOU to meet the demand for financial forensic experts in Singapore was signed by the Commercial Affairs Department and Institute of Singapore Chartered Accountants (ISCA). Between 2017 and 2021, authorities investigated a total of 18,700 cases of white-collar crime. These cases of white-collar crime, which…
Visa-Free Travel Deal in the Works Between China and Singapore China and Singapore are in talks about a visa-free travel deal arrangement to boost arrivals from the city-state. Singapore had 3.6 million Chinese visitors in 2019. This is far more than any country, and the total spent combined by these visitors was S$4.1 billion. With…