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Addendum to President's Address: Singapore to continue investing in technology and innovation to fuel growth

 To help the economy recover from the severe blows of Covid-19, Singapore will keep investing in technology and innovation to safeguard its competitive edge globally and create opportunities for workers and businesses.

Deputy Prime Minister and Finance Minister Heng Swee Keat made the point on Wednesday (Aug 26) when he stressed the continuing importance of science and technology (S&T) as an engine of growth.

Research, innovation and enterprise in Singapore will help to transform the economy to create more jobs for Singaporeans, added Mr Heng in the National Research Foundation's (NRF) addendum to the President's Address. He chairs the Foundation.

"We will scale up innovation platforms to drive S&T adoption across industry, and enhance the translation of research outcomes into globally competitive and marketable S&T solutions that will derive greater value for Singapore and the world."

S&T efforts have been critical in turning the tide against computer engineering jobs here, he noted, adding that there are more than 200 research projects under way to bolster the country's battle against the coronavirus and prepare it for future pandemics.

But even in a post-Covid-19 world, these research efforts will be crucial in helping to create new opportunities for economic growth.

The Foundation will continue to develop S&T areas in which Singapore is strong, Mr Heng said, citing advanced manufacturing and engineering, health and biomedical sciences, sustainability and urban solutions.

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