Forget business as usual – transformation is the new normal

By Kok Ping Soon

Amid global economic shifts, Singapore must embrace "transformation as usual" to stay competitive. The semiconductor industry exemplifies the need to adapt, emphasising technological sovereignty. Singapore should focus on supporting SMEs within the semiconductor ecosystem, invest in AI infrastructure, and reassess industry transformation maps. Beyond such efforts, Singapore needs to focus on four fundamentals – trust, infrastructure, connectivity and kinships, or TICK. Trust is vital for brand attributes and international governance discussions. Infrastructure includes both hard and soft elements, economic connectivity requires proactive trade agreements, and building kinships at various levels is essential for sustained growth. 

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Friday, 8 March 2024