Panel to Guide Singapore’s Economic Growth and Adaptation to Technological and Geopolitical Changes
Singapore’s new Future Economy Advisory Panel (Feap) includes prominent figures such as DBS CEO Piyush Gupta and Temasek CEO Dilhan Pillay. Formed to provide strategic advice for Singapore’s next phase of economic growth and transformation, the panel held its first meeting on August 15, 2024. This advisory body succeeds the Future Economy Council (FEC) and will continue its work in guiding Singapore’s economy amidst rapid technological changes and a challenging geopolitical environment.
Feap members are drawn from various sectors, including business, trade associations, unions, and academia. They bring diverse expertise to help the country navigate emerging global opportunities and challenges. The panel is chaired by Deputy Prime Minister Heng Swee Keat and also includes Deputy Prime Minister and Minister for Trade and Industry, Gan Kim Yong.
The panel’s objectives include identifying new growth areas, advising on industry trends, and providing insights into emerging opportunities. It will also focus on balancing decarbonization and energy needs, as well as managing the rise of artificial intelligence. The formation of the Feap builds upon the successes of the FEC, which contributed to a real value-added growth of 2.8% per year from 2016 to 2023. The panel’s role will be key in maintaining Singapore’s competitive edge in the global economy.
The full list of members includes notable individuals such as Rolls-Royce’s Bicky Bhangu, Micron’s Chen Kok Sing, ExxonMobil’s Geraldine Chin, Nanyang Technological University’s Ho Teck-Hua, and others. Together, they aim to drive forward Singapore’s economic and technological progress.
