Singapore, Hong Kong go head to head on innovation
Singapore must ensure that its policies remain relevant, flexible and responsive so that it remains a top innovation hub.
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SINGAPORE and Hong Kong's similarity in size, geographical proximity and common history have routinely pitted the two cities as traditional rivals. Both cities are global hubs for investments, trade, finance and tourism.
The recent budgets of both countries have also unearthed another area where we may see Singapore and Hong Kong go head to head again: innovation.
However, Hong Kong and Singapore are today are on a different footing in fostering innovation. Singapore ranks third on the Bloomberg 2018 Innovation Index while Hong Kong is placed 37th.
Based on the most recently available data in 2016, Hong Kong's research and development (R&D) expenditure was o…
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