Singapore to position itself as ‘home to leading firms’

MTI unveils new blueprint to boost innovation, green growth and global trade links.

The Ministry of Trade and Industry (MTI) has announced plans to refresh Singapore’s economic blueprint as it seeks to position the city-state as a home to leading firms, a key global business hub, and a vital connector in the global economy.

In an addendum to the President’s Address 2025, MTI said it will pursue productivity-led and innovation-driven growth to build a strong and resilient economy while creating good jobs for Singaporeans.

“We are operating in a changed world, marked by major uncertainties and structural shifts. The tripartite Singapore Economic Resilience Taskforce will support workers and businesses to navigate and respond to immediate challenges arising from increased tariffs,” the ministry said.

MTI said it will intensify efforts to capture opportunities in new growth areas, including advanced manufacturing, artificial intelligence, robotics, biotechnology, and the green and digital economies. It will also sustain investments in research and development, boost collaboration between industry and academia, and build next-generation infrastructure such as the Punggol Digital District.

MTI added that it will continue to support investments in tourism and lifestyle sectors to enhance Singapore’s appeal as a city to live, work, and play.

To attract globally leading companies, MTI said it will leverage Singapore’s efficient infrastructure, extensive connectivity, highly skilled workforce, and pro-business environment.

Anchoring these firms will help local enterprises access global markets, gain cutting-edge know-how, and integrate into global supply chains, the ministry said. MTI will also grow a pool of Singapore Global Enterprises by helping promising local firms internationalise and become regional or global leaders. This includes raising productivity through the adoption of digital and AI-enabled solutions and workforce training.

In addition, the ministry will help firms transition to a low-carbon economy by stepping up solar deployment, advancing cross-border electricity trading, and developing capabilities in nuclear energy, hydrogen, and carbon capture technologies. It also plans to develop markets for high-quality carbon credits.

MTI said Singapore must remain a trusted and connected business hub deeply integrated into global supply chains and trade flows. It will deepen regional economic integration within ASEAN, enhance linkages with neighbours, and strengthen partnerships with major economies and blocs such as the European Union and the Gulf Cooperation Council.

Beyond Singapore’s 28 free trade agreements, MTI plans to expand trade links with emerging markets, including Latin America, South Asia, the Middle East and Africa. It will also grow its network of Digital Economy Agreements and Green Economy Agreements to set standards for cross-border business and support low-carbon transitions.

The ministry said it will continue engaging in existing trading frameworks, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership, and work with other trade-dependent countries on reforms at the World Trade Organisation.

MTI stressed that Singaporeans are at the heart of the economy. It said its strategies will create more opportunities for citizens to thrive and share in the benefits of growth.

The ministry will work with companies, unions, trade associations, chambers, the Ministry of Manpower and the Ministry of Education to equip Singaporeans with future-ready, industry-relevant skills and support career transitions into growth sectors.

“Through these efforts, we will foster productivity-led and innovation-driven growth, and create good jobs for Singaporeans,” MTI said