Singapore’s ability to remain trusted, adaptable, and skilled will continue to make it attractive for investors and businesses in an increasingly uncertain global environment, Deputy Prime Minister Gan Kim Yong said during a leaders dialogue organised by DBS.
Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, took part in the “Trust and AI: Navigating a World in Transition” Leaders Dialogue organised by DBS Bank on 20 May 2026. The fireside chat was moderated by Ms Tan Su Shan, Group CEO of DBS.
During the discussion, Mr Gan said Singapore’s long-standing reputation as a trusted and reliable partner remains one of its strongest advantages. He noted that Singapore has consistently supported businesses and investors during both stable and challenging periods, helping to build confidence over decades.
Mr Gan also highlighted Singapore’s ability to respond quickly to global changes due to its size and efficiency. He said the country’s strong infrastructure, connectivity, efficient government agencies, and highly skilled workforce continue to make Singapore an attractive destination for investment.
On workforce development, Mr Gan stressed the importance of continuous learning and skills upgrading. He said training should not only take place during economic downturns, but must become a regular part of both workers’ and employers’ long-term strategies. He encouraged businesses to view workforce training as a key competitive advantage in an economy increasingly shaped by technology and AI.
Addressing concerns about AI’s impact on jobs, especially entry-level roles, Mr Gan acknowledged that many young people are feeling anxious about the changing job market. However, he said such awareness is important and added that universities, employers, and government agencies are working together to prepare students through internships, traineeships, and career guidance programmes.
Mr Gan also spoke about cybersecurity and business continuity as organisations become more reliant on AI and digital systems. He said businesses must ensure they have backup systems and resilience plans in place to manage disruptions such as cyberattacks or power failures.
On AI development, Mr Gan said Singapore is open to international partnerships and welcomes collaboration with countries and companies seeking to build AI capabilities. He highlighted ASEAN’s ongoing Digital Economy Framework Agreement as an important step toward regional cooperation in AI and digital technology.
To support businesses, especially SMEs, Mr Gan said the government has established AI Centres of Excellence to help companies experiment with AI solutions and gain access to expertise and computing resources. He also announced plans for an AI Park in one-north, which will bring together AI researchers, companies, and technology partners to strengthen Singapore’s AI ecosystem.
Source: PMO
