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Economic Reviews
Read more about the Economic Strategy Review and past economic reviews.
Last updated 23 October 2025
Economic Strategy Review
In August 2025, the Government embarked on an Economic Strategy Review (ESR) to chart a forward-looking economic blueprint to strengthen Singapore’s global competitiveness and economic relevance amid geopolitical realignments and rapid technological changes, so as to secure good opportunities for businesses and workers.
The ESR comprises five committees, each co-chaired by two Political Office Holders (POHs), with relevant members from the private sector, unions, and other relevant stakeholders. The five Committees will develop longer-term strategies in the following areas:
Strengthen Singapore’s global competitiveness by refreshing our comparative advantages;
Leverage technology and innovation to capture opportunities in new frontiers and drive broad-based economic growth;
Nurture entrepreneurship and enhance the competitiveness of our start-up ecosystem;
Enhance human capital to maintain Singapore’s competitive advantage and ensure locals can access good jobs; and
Manage the impact of restructuring so that all can share in our future prosperity.
The ESR committees will engage widely with businesses, workers, and relevant stakeholders to gather feedback and ideas over the next few months. The ESR will present their recommendations by mid-2026.
Read the ESR Committees and member compositions here [PDF, 131 KB].
Past Committees & Reports
Discover our past committees and economic strategy reports.
Transforming the Singapore Economy Report
Published in July 2024, the "Transforming the Singapore Economy" Report celebrates the contributions of the many stakeholders who have contributed to Singapore's economic transformation over the past several years. The Report highlights Singapore's economic transformation efforts since 2016. These efforts have been marked by partnerships within and across sectors, and action across the economy to drive transformation. In particular, the Report reflects on the development and implementation of the Industry Transformation Maps (ITMs) across 23 key sectors (covering about 80 per cent of the economy), overseen by the Future Economy Council.
Access the Transforming the Singapore Economy Report here [PDF, 16.9 MB]
Access the Technical Annex for the Report here [PDF, 16.3 MB]
Emerging Stronger Taskforce (EST)
The Emerging Stronger Taskforce (EST) was formed in May 2020 and concluded its work in May 2021 when it published the Emerging Stronger Together Taskforce Report. In response to the COVID-19 pandemic, the EST was established under the Future Economy Council (FEC) to enable Singapore to act quickly and decisively and emerge stronger from the crisis. It made five key recommendations to build a Virtually Unlimited and Sustainable Nation that is Stronger Together. These recommendations were (1) the creation of new virtual frontiers, (2) seizing growth opportunities from sustainability, (3) enabling global champions and growing an agile and Singapore core, (4) institutionalising the Singapore AfA model, a novel form of private-public partnership, and (5) strengthening international partnerships, especially with Southeast Asia.
Read the Emerging Stronger Together Taskforce Report here [PDF, 6.6 MB]
Committee of the Future Economy (CFE)
The Committee on the Future Economy (CFE) was formed in January 2016 and concluded its work in February 2017 following the publication of the Report of the Committee of the Future Economy. The CFE was established to develop economic strategies for Singapore’s next phase of economic development amidst rapid technological change and shifting global value chains. Building on the recommendations of the Economic Strategies Committee (ESC), the Report of the CFE recommended seven mutually reinforcing strategies designed to build a Singapore of global relevance, with opportunities for all Singaporeans. Key recommendations were imperatives to (1) deepen and diversify our international connections, (2) acquire and utilise deep skills, (3) strengthen enterprise capabilities to innovate and scale up, (4) build strong digital capabilities, (5) develop a vibrant and connected city of opportunity, (6) develop and implement Industry Transformation Maps (ITMs), and (7) partner each other to enable innovation and growth.
Read more on the Report of the Committee of the Future Economy here
Economic Strategies Committee (ESC)
The Economic Strategies Committee (ESC) was formed in May 2009 and concluded its work in February 2010, following the publication of the Report of the Economic Strategies Committee. The ESC was formed to develop strategies for Singapore to bolster its economic growth through skills, innovation, and productivity improvements. Key recommendations were (1) boosting skills in every job, (2) deepening capabilities to seize opportunities in Asia, and (3) making Singapore a distinctive global city and an endearing home.
Access the Report of the Economic Strategies Committee here.
Economic Review Committee (ERC)
The Economic Review Committee (ERC) was formed in December 2001 and concluded its work in February 2003 following the publication of the Report of the Economic Review Committee. It was formed to review Singapore’s policies and propose appropriate strategies to promote the growth and development of the Singapore Economy over the next 15 years. It responded to the 2001 recession by proposing immediate measures to enhance Singapore’s competitiveness. It also recommended long-term strategies to remake Singapore into a globalised, entrepreneurial, and diversified economy.