Deputy Prime Minister Gan Kim Yong says Singapore must strengthen its competitiveness, embrace AI, and build a more resilient economy to prepare for growing global challenges.
Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong delivered the keynote address at the Future Economy Conference 2026 on 13 May 2026, outlining Singapore’s plans to stay competitive amid growing global uncertainty.
Mr Gan said rising geopolitical tensions, rapid advances in artificial intelligence (AI), climate change, and shifting work patterns are reshaping the global economy.
He said Singapore’s Economic Strategy Review (ESR) focuses on three key priorities — strengthening Singapore’s value proposition, building a more agile economy, and improving resilience while staying globally connected.
Mr Gan highlighted the importance of sectors such as advanced manufacturing, finance, logistics, and technology, while stressing that AI adoption will play a major role in boosting productivity and creating better jobs.
He said Singapore aims to become a trusted hub for practical AI solutions, especially in healthcare, finance, and manufacturing.
Mr Gan also stressed the need for workers to continuously upgrade their skills and adapt to changing job demands. He said the government’s goal is to “protect every worker” even if some jobs are disrupted by technology and automation.
On resilience, Mr Gan said Singapore must strengthen energy security, supply chain resilience, and digital infrastructure while remaining open and connected to the global economy.
He added that Singapore cannot rely on past successes alone and must continue renewing its economy to secure future growth and opportunities.
Source: PMO
