29 October 2020

The third quarter of 2020 was marked with commitment to investing in the digital economy and innovation across various industries in Singapore. We are pleased to provide an infographic of these public policy developments and their potential commercial impact in the following areas:

  • FinTech: Monetary Authority of Singapore commits S$250 million to support innovation in FinTech, adoption of AI, and strengthening local FinTech talent 
  • Maritime: S$9 million from Maritime GreenFuture Fund set aside to co-fund harbourcraft electrification projects
  • Innovation: Singapore and Norway commit to strengthen innovation collaboration in key sectors 
  • Trade digitalisation: Singapore and Australia sign Digital Economy Agreement to facilitate digitalisation of trade processes
  • Manpower: Minimum qualifying salary for new Employment Passes and S Passes raised from S$3,900 to S$4,500 and from S$2,400 to S$2,500 respectively

To view the Q3 2020 Review, please click here.