Key strategies for Singapore’s future success: attracting investments, innovation, and regional leadership
As Singapore looks ahead, it faces a challenging new reality marked by volatility and global tensions. To secure a prosperous future, Finance Minister Lawrence Wong emphasized three critical strategies in the 2024 Budget: attracting high-quality investments, driving differentiation through cutting-edge innovation, and amplifying Singapore’s role as a trusted regional leader.
The nation’s response to these challenges, as outlined in the Forward Singapore road map, will be shaped by a long-term perspective on threats such as climate change and technological disruptions. These evolving challenges demand agile strategies and innovative solutions to address Singapore’s resource needs while maintaining a competitive and progressive tax system.
The government has introduced measures like the Refundable Investment Credit (RIC) and the Enterprise Support Package, which aim to bolster Singapore’s attractiveness as a destination for investment and innovation. These initiatives are aligned with Singapore’s commitment to ensuring sustained economic growth, even as global uncertainties persist.
