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The Ministry of Trade and Industry (MTI)’s Committee of Supply (COS) Debate 2025 underscores Singapore’s commitment to advancing sustainable growth and enhancing economic vibrancy as we embark on the next phase of our development. MTI will continue to empower our businesses and workers to navigate the challenges of the evolving landscape, build new capabilities, and seize exciting growth opportunities.
To build a strong and vibrant economy, we will redouble our efforts with the following strategies:
Grow our economy
As a hub economy, we must continue to abide by the fundamentals that have helped drive economic growth, such as:
Deepening integration with our neighbours
Growing strong enterprises through innovation
Strengthening our innovation ecosystem
Increasing capital access for local companies
Fostering a pro-enterprise environment
Investing in our local workforce and encouraging companies to actively nurture Singapore talent
We will achieve these through the following initiatives:
Johor-Singapore Special Economic Zone
Substantially concluded negotiations for the ASEAN Digital Economy Framework Agreement
Conclusion of negotiations on the upgrade of ASEAN Trade in Goods Agreement
National Semiconductor Translation and Innovation Centre (R&D Fab)
Enhancements to the Global Innovation Alliance programme
Launch of the Global Founder Programme
Long Term Investment Fund
Private Credit Growth Fund
Statements of Commitment by the Government to Increase Regulatory Agility and Reduce Compliance Burden for Businesses
Statements of Commitment to Reduce Regulatory Burden and Foster a Pro-Enterprise Environment
Unlock our resource potential
As we continue to advance Singapore's 2050 net-zero goals, we will seek innovative solutions to overcome our land, manpower, and energy constraints, while also charting new paths for our businesses and supporting our workforce’s aspirations.
We will focus our efforts on:
Decarbonising our energy mix by realising our electricity import projects, maximising our domestic solar potential, and exploring low-carbon alternatives and solutions
Sustaining investments in research and innovation
Investing in our workers
Enhancing land productivity
We will achieve these through the following initiatives:
Implementation Agreements (IA) on carbon credits cooperation aligned with Article 6 of the Paris Agreement
Request for Proposals to procure Article 6 compliant carbon credits
Low-Carbon Technology Translational Testbed
Future Energy Fund top-up
Centre for Energy and Emissions Modelling’s modelling system for national decarbonisation
Refresh of A*STAR’s biomedical research infrastructure
New biopharma manufacturing R&D programmes to enhance cell therapy and development
Continuing Education Training degrees for in-employment diploma holders in Manufacturing roles
Conclusion of tech and innovation talent exchange agreements with Indonesia and Vietnam
Extension of the Land Intensification Allowance
Flexible Lease Extension Initiative
Earlier lease renewal application period at 10 years before lease expiry, from six years previously
Broadened definition of plant and machinery investments
Support local enterprise transformation and growth
The Government is committed to supporting businesses in their transformation and innovation journeys by:
Supporting enterprises’ internationalisation efforts
Helping enterprises transform with artificial intelligence
Enhancing regulatory agility for a pro-enterprise business environment
Boosting heartland enterprises
We will achieve these through the following initiatives:
Increased Loan Quantum for Enterprise Financing Scheme – Trade Loan
Extension of Double Tax Deduction for Internationalisation
Extension of Market Readiness Assistance Enhanced Grant Cap
Expansion of Enterprise Financing Scheme – Mergers & Acquisitions to include targeted asset acquisitions
Enterprise Compute Initiative
Launch of the SME Pro-Enterprise Office
Enhancement of SME Centres to offer a wider range of business advisory services and programmes
Streamlined experience on digital platforms, such as the GoBusiness portal and EnterpriseSG’s Business Grants Portal
Enhanced Visual Merchandising Programme
Vibrant Heartlands Programme for Merchants’ Associations
Connect Singapore to the world
As the world’s Global-Asia node, we will continue to keep our economic pathways flowing by:
Enhancing people flows through tourism offerings
Deepening trade flows with key partners
Diversifying our trade flows to new markets and sectors
We will achieve these through the following initiatives:
SG60 promotions by tourist attractions
New and rejuvenated tourism offerings and strong pipeline of leisure, lifestyle and business events
Doubling down on regional economic integration with ASEAN partners, such as the substantial conclusion of the second upgrade of the ASEAN-China Free Trade Area, while the third upgrade is set to be fully concluded this year
Strengthening bilateral economic ties with key partners, such as the United States, China, India, and Malaysia
Securing partnerships in new markets, such as Latin America, Middle East, and Africa
Broadening trade partnerships in digital and green economies
Business budget booklet 2025
Learn more about the Government’s pro-enterprise initiatives and economic strategies for the next phase of our development.
Speeches
Grow Our Economy
Deputy Prime Minister and Minister for Trade and Industry, Mr Gan Kim Yong
Unlock Our Resource Potential
Second Minister for Trade and Industry, Dr Tan See Leng
Support Local Enterprise Transformation and Growth
Senior Minister of State for Trade and Industry, Ms Low Yen Ling
Connect Singapore to the World
Minister of State for Trade and Industry, Mr Alvin Tan
Press releases and factsheets
Growing Strong Enterprises Through Innovation
Factsheet on National Semiconductor Translation and Innovation Centre (NSTIC R&D Fab) [PDF, 410 KB]
Factsheet on Enhancements to Global Innovation Alliance [PDF, 101 KB]
Fostering a Pro-Enterprise Environment
Exploring Low-Carbon Alternatives
Factsheet on Low Carbon Technology Translational Testbed (LCT³) [PDF, 136 KB]
Factsheet on Centre for Energy and Emissions Modelling 2.0 (CE2M 2.0) [PDF, 133 KB]
Research and Innovation
Land
Transforming Enterprises’ Experience with Government
Injecting Vibrancy into our Heartlands
Enhancing connections to people flows
Useful resources
Go Business
Visit the GoBusiness portal for more information on available enterprise support. Use the Government Assistance e-Adviser to discover your eligibility for schemes by answering a few simple questions.
Chief Technology Officer-as-a-service
Self-assess your company’s digital readiness through a few questions, identify digitalisation gaps, and find digital solutions tailored to your business needs. Eligible companies can also seek digital advisory services and project management support from a shared pool of digital consultants.
Learn more about Chief Technology Officer-as-a-service
SME Centres
Our experienced Business Advisors are here to support you in growing your business through 1-on-1 business advisory sessions, capability development workshops, and group-based upgrading projects. Book a complimentary consultation at an SME Centre of your choice.
Centres of Innovation
Set up in partnership with Institutes of Higher Learning and research institutes, Centres of Innovation aim to enhance SMEs’ technological innovation needs. The Centres provide facilities, consultancy, training, and technical services for SMEs to develop and test technology projects in specific sectors.
Learn more about Centres of Innovation
MOF's Pro-Enterprise Initiatives
Check out this infographic to find out what the Government is doing to simplify rules and processes while making Government Procurement opportunities more accessible.
Learn more about MOF's Pro-Enterprise Initiatives [PDF, 167 KB]