Industry Partnerships

Launched in 2016, the Industry Transformation Maps (ITMs) are sector-specific roadmaps to drive industry transformation, support the growth of our enterprises and help Singaporeans take up quality jobs and seize opportunities. They were announced during Budget 2016 when then-DPM Heng Swee Keat unveiled an Industry Transformation Programme to strengthen enterprises and industry, and to drive growth through innovation. Under the S$4.5 billion Industry Transformation Programme, roadmaps were developed for 23 industries to address issues within each industry and deepen partnerships between Government, firms, industries, trade associations and chambers. On 8 September 2016, DPM Tharman Shanmugaratnam launched the first ITM for Food Services. By 2018, all ITMs were launched.

To address the systemic shifts arising from the COVID-19 pandemic and other challenges in the global economy, the Future Economy Council (FEC) embarked on ITM 2025 to refresh all 23 ITMs to address the challenges and opportunities for Singapore, our businesses and our workers. Then-DPM Heng Swee Keat announced these refreshes in April 2021 with ITM 2025 incorporating recommendations made by the Emerging Together Taskforce and aligned with Singapore’s Research Innovation Enterprise 2025 (RIE2025). Later in October 2022, he launched the first five ITM refreshes for the Advanced Manufacturing & Trade Cluster, which included Electronics, Precision Engineering, Energy & Chemicals, and Aerospace and Logistics. By 2023, all refreshed ITMs were launched.

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.

The Alliances for Action (AfA) are industry-led coalitions, working in partnership with the Government, to prototype ideas in areas of opportunity for Singapore or address a common challenge. Adopting an agile “startup” approach, they promote partnerships among private and public sector stakeholders and the Labour Movement and sought to deliver minimum viable products (MVPs) within compressed timelines.

In February 2024, the Ministry of Trade and Industry and the Singapore Business Federation collaborated to form the Alliance for Action on Business Competitiveness, exploring ways to enhance Singapore’s competitiveness in key areas. In November 2024, the report was launched, targeting manpower transformation, land use optimisation, and a regulatory framework that supports innovation and future growth.

Access the Alliance for Action on Business Competitiveness Report here.