Singapore must sharpen its distinctiveness to secure future in ‘a very different world’
How can we refresh what has worked as comfort zones narrow, competition widens, and socioeconomic pressures intensify?
FOR some time, Singapore has conscientiously positioned itself as a location for regional headquarters, riding on its strategic location, robust and stable infrastructure, business-friendly environment and skilled workforce.
There has been considerable success. Foreign direct investment into Singapore reached S$192 billion in 2024, an increase of 5.6 per cent year on year. Notably, global multinational corporations have been using Singapore as a hub for research and development and regional HQs, while deploying operations across neighbouring Asean countries.
Yet, amid the “Navi” (nonlinear, accelerated, volatile and interconnected) state of affairs today, this proven approach could be challenged for its long-term relevance.
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