A closed-door session in Singapore brought together government leaders, industry representatives, and SMEs to discuss how to better support businesses and workers as the economy undergoes restructuring.
The Singapore Manufacturing Federation (SMF) hosted a closed-door session with Mr Pei Ming Goh, Minister of State for the Ministry of Home Affairs and Ministry of Social and Family Development, and Mr Desmond Choo, Minister of State for the Ministry of Defence. Both are co-chairs of the Economic Strategy Review (ESR) Committee on Managing the Impact of Restructuring.
The session brought together manufacturers, logistics leaders, and representatives from the National Trades Union Congress, Ministry of Trade and Industry Singapore, Ministry of Manpower Singapore, Enterprise Singapore, and Workforce Singapore. The committee’s public brief is to better support workers and businesses through change, and participants highlighted the importance of including the views of manufacturing SMEs in these discussions.
Key takeaways from the session included the need to move beyond traditional ways of working and to co-create new value chains across industries. Participants said that grants should be co-designed to support strategic and high-impact collaborations, rather than just applied for. SMF Centres were highlighted as key platforms where sector-specific transformation takes place, and there were calls to strengthen their role.
Participants also noted that global disruptions are a reason to localise key capabilities and build more resilient supply chains. Workforce transformation was another key focus, with emphasis on flexible career pathways, broader support, and building stronger confidence among workers navigating change.
Companies were encouraged to collaborate more closely, described as “hunting as a pack,” through mentorship and train-the-trainer programmes to support shared capabilities and joint expansion. Trade Associations and Chambers (TACs) were recognised for bringing industry insights, reaching SMEs, and translating policy into practice, and should continue to be involved as changes take shape.
The conversation was described as candid, with strong alignment on rethinking how policies, partnerships, and support systems are designed to address current challenges and strengthen Singapore’s long-term competitiveness. ESR committee representatives included Mr Lennon Tan, Mr Lim Teck Chuan, Ms Caryn Lim, and Mr Dave Ng, along with business leaders such as Mr Mark Lee, Mr Kenneth Goi, Ms Elise Hong, Ms Yong Hsin Yue, Mr Marcus Sia, Mr Wei Chan, Mr Lennon Tan, Mr Kian Chong Lee, Mr Jason Tan, and Dr Choon-Hou Ho.
Source: SMF
