Singapore CEOs grow more confident with EY index rising to 81.5 in Q3

One-third have completed localization plans, whilst another 30% are in progress.

Nearly half of Singapore’s CEOs (47%) expect geopolitical and economic uncertainty to stretch beyond a year, with 22% projecting volatility to persist for three years or more.

Yet, CEO confidence is on the rise. According to EY-Parthenon’s latest CEO Outlook Pulse, Singapore’s CEO Confidence Index jumped to 81.5 in September, up from 63 in May. The global index also climbed, reaching 83 from 76.

EY-Parthenon said leaders are “acclimatizing” to volatility and accelerating transformation. In Singapore, 47% of CEOs plan to boost investments to speed up portfolio changes over the next 12 months, whilst 48% will maintain their current pace.

Long-term strategic shifts toward localization and regionalization are gaining traction. Among Singapore respondents, 81% view localization as a priority, and 65% say the same for regionalization.

One-third have completed localization plans, whilst another 30% are in progress. Only 6% have completed regionalization efforts, though 40% are underway.

Operational challenges remain. Inflation (51%) and tariffs (48%) top the list of headwinds, while cybersecurity risks (38%) and fragmented cross-border regulations—cited by 58% as the top barrier to digital transformation—continue to dampen innovation efforts.

Despite the uncertainty, dealmaking appetite is strong. Nearly half (48%) of Singapore CEOs expect to pursue M&A activity, and 70% anticipate entering joint ventures or strategic alliances.

Singapore is the top M&A destination for local CEOs, followed by the UK and US. Of those eyeing deals, 32% are targeting technology or intellectual property assets.

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