Singapore Budget 2019: Building Singapore as a Global-Asia node of technology, innovation and enterprise

SINGAPORE will press on with industry transformation and build its position as a Global-Asia node of technology, innovation and enterprise, to open up new opportunities as technologies advance and converge.

"With the centre of economic gravity shifting to Asia, and with the technological depth of partnerships with G3, we should position Singapore as "Asia 101" for global MNCs looking to expand into Asia's growing markets, and as "Global 101" Asian companies ready to go global,'' Finance Minister Heng Swee Keat told parliament on Monday on the city-state's next growth phase.

Three thrusts have been laid out for the broader economic transformation: First, investments in research and innovation by universities, research institutes, and firms; second, investments in people and third, building global partnerships.

The government has set aside S$19 billion as part of its five-year Research, Innovation and Enterprise 2020 plan.

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