Economic Strategy Review: Securing Growth and Good Jobs in a Changing World

On 4 August 2025, Deputy Prime Minister Gan Kim Yong launched the Economic Strategy Review under the Singapore Economic Resilience Taskforce (SERT), with five committees (Global Competitiveness, Technology and Innovation, Entrepreneurship, Human Capital, Managing the Impact of Restructuring), each co-chaired by two political office-holders. Between August 2025 and April 2026, more than 80 consultations reached over 7,700 people.

Timeline - 30 January 2026: mid-term update. On its basis the Government set up the National AI Council and decided to merge SkillsFuture Singapore and Workforce Singapore. - 13 May 2026: the 32 recommendations were presented at the Singapore Business Federation's Future Economy Conference. - June 2026: final report published, more than 80 pages. Budget 2026 had already responded to part of it.

Three imperatives: sharpen the value proposition, enhance agility and adaptability, build resilience alongside efficiency.

Eight thrusts: the first four secure growth (lead globally in areas of strength, become a global leader in AI solutions, move from a hub that flows pass through to a hub where flows are organised, help more Singapore companies start, scale and go global); the last four create good jobs and resilience (create more and more diverse good jobs, build a stronger career-transition and worker-support system, enable lifelong learning, treat economic resilience as a core capability).

What touches AI directly: Thrust 2 states that Singapore will not compete for the largest models or the largest data centres, but will be the place where AI solutions are "developed, tested, deployed and scaled in real-world settings"; the National AI Council and industry set the problems jointly, and a group of local leading firms become "AI champions". Thrust 5 takes the clearest position: no slowing of AI to protect jobs, but government support for enterprise AI comes with explicit expectations on worker outcomes, and "the benefits of AI cannot accrue only to those with capital". Figures cited: AI adoption 14.5% among SMEs and 62% among large enterprises (2024).

See the site longform "What Singapore's Economic Strategy Review says: 8 directions, 32 recommendations".