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Time to introduce a Japan, Korea-style value-up programme, to drive Singapore market’s next leg-up

This move may be a crucial part of the ongoing holistic approach to restoring the vibrancy of the local market

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Ben Paul

Ben Paul

Published Mon, Feb 9, 2026 · 07:00 AM
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    • Minister for National Development Chee Hong Tat says: "We are not trying to go for a silver bullet that can, on its own, solve all the problems. There is no magic pill."
    • Minister for National Development Chee Hong Tat says: "We are not trying to go for a silver bullet that can, on its own, solve all the problems. There is no magic pill." PHOTO: BT FILE

    [SINGAPORE] When the S$5 billion Equity Market Development Programme (EQDP) was unveiled in February last year, I remember being rather surprised by the audacity of the move.

    With hindsight, I should have seen it coming.

    Less than two months before the announcement, at an event marking the 25th anniversary of the Singapore Exchange (SGX), Minister for Trade and Industry Gan Kim Yong had said that the Equities Market Review Group was studying how public funding could best be used to mobilise private sector funds to broaden liquidity in the local market.

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