Staying Open is how Singapore can Compete, Grow and Stay Relevant

SBF CEO Kok Ping Soon opined Singapore's need to balance economic growth with social cohesion by embracing foreign talent. Facing workforce constraints due to declining birth rates, Singapore must better utilise existing foreign workers rather than relaxing quotas. The recent Workplace Fairness Bill and initiatives promoting workplace integration are crucial for cohesion. Projects such as the JS-SEZ aim to alleviate infrastructure strain, while expanding workforce access.

Joint Project Office Established to Help Singapore Businesses Tap Opportunities in JS-SEZ

At the Johor-Singapore Special Economic Zone (JS-SEZ) Joint Business & Investment Forum on 21 April, MTI, EnterpriseSG, and EDB launched a joint project office to support business expansion in the zone. SBF CEO Kok Ping Soon highlighted tariff arbitrage opportunities and noted that Malaysia and Singapore’s 43 FTAs offer near-global trade access. He called for the need for swift policy execution and urged businesses to act now to build supply chain resilience amid global uncertainties.

Reach out to [email protected] to find out more on the JS-SEZ.

STB and SBF Collaborate to Support SG’s Business Ecosystem

The Singapore Tourism Board (STB) unveiled its Tourism 2040 roadmap to grow business events and attract more leisure travellers, with a strong focus on the MICE sector. As part of this vision, STB signed a two-year MOU with SBF to strengthen Trade Associations and Chambers (TACs), with the aim to build TAC capabilities so that they can bid to host international or local business events.

Building SME Resilience in a Transitioning World

The Glasgow Financial Alliance for Net Zero (GFANZ) APAC Network, the Singapore Sustainable Finance Association (SSFA) and SBF are co-hosting a seminar to empower SMEs in Singapore with the knowledge and tools needed to develop long-term decarbonisation plans. This session will feature the business case for transition planning, with expert speakers introducing key concepts and insights from Singaporean financial institutions on how they assess clients' transition plans.

Deepfake Deception: Scammers Target Corporate Funds Using AI

The Police urge businesses to stay vigilant as scammers use digital manipulation to impersonate high-ranking executives from the victims' companies and trick victims into transferring large sums from corporate accounts under the guise of investments or payments. Scammers may also pose as MAS officials or legal counsel, sending fake documents to appear credible. Companies should train staff, verify fund requests through official channels, and check video calls for AI manipulation, per CSA’s  advisory.