The recommendations were announced on Wednesday, May 13, 2026, following months of consultations involving more than 7,700 participants, including businesses, workers, trade associations, and economic experts.

Singapore’s Deputy Prime Minister and Minister for Trade and Industry, Gan Kim Yong, said the strategies are designed not only to address current economic pressures but also to position Singapore competitively for the future.

He noted that Singapore must focus on sectors where it has strong advantages and be willing to make “bold bets” in industries that could shape the global economy in the coming years.

Among the key proposals are increased investments in advanced technologies such as artificial intelligence, quantum computing, and space-related industries. The plan also seeks to strengthen Singapore’s role in global supply chains and innovation.

Another major focus is energy resilience. The recommendations include expanding infrastructure for gas, hydrogen, and renewable energy sources to reduce vulnerability to global energy disruptions and geopolitical tensions.

The report also emphasizes transforming Singapore from being mainly a trade and logistics hub into a global center for strategic decision-making in technology, finance, and business leadership.

On employment, the ESR warned that artificial intelligence and automation could replace some jobs in the future. It therefore called for stronger retraining and upskilling programs to help workers transition into new industries and emerging roles.

The review further proposed improving wages and support for sectors less likely to be replaced by technology, including healthcare, education, and social services.

Officials behind the report acknowledged that some investments may not deliver immediate returns, but argued that failing to act early could prove far more costly in the long term.