7 September 2023

Speaking on the sidelines of the Ministry of Trade and Industry Economic Dialogue 2023 which was held on 28 August 2023, Minister for Trade and Industry Gan Kim Yong announced that Singapore is exploring new tools to manage significant investments into critical entities to ensure that such investments do not affect Singapore’s economic resilience and national security interest. This is to strengthen Singapore’s position as a trusted hub for businesses to invest with confidence. The Government will be engaging industries to better understand their perspectives and work with them to minimise the impact on businesses and investments.

This development comes against a global backdrop where countries are implementing foreign investment controls to safeguard national assets and critical industries. For practical tips and more information on key legal trends impacting foreign investments around the world, please read our article titled “Practical tips and key legal trends impacting foreign investments in 2023”.