Gan Kim Yong
Singapore
“Consumer complaints relating to the secondary resale market for tickets to major events and concerts have generally remained low. Nonetheless, to protect the public from scams on secondary ticket resale platforms, the Police have imposed Code of Practice requirements under the Online Criminal Harms Act to require designated online service…”
“Singapore does not condone the use of forced labour. We criminalise forced labour in Singapore under various laws. Relevant Government Ministries and agencies, such as the Ministry of Manpower, Ministry of Home Affairs and Singapore Police Force, play their part in investigating complaints of suspected breaches in domestic laws that relat…”
“The Association of Banks in Singapore (ABS) discontinued the PayNow nickname feature as scammers had been exploiting the use of nicknames to impersonate legitimate entities and trusted individuals.”
“As of end-2025, around 6,900 private residential buildings have registered their solar installations with SP Group for the export of excess solar-generated electricity to the grid. The installed solar capacity of these residential buildings is 115.3 megawatt-peak (MWp), or around 5.5% of all current installed solar capacity in Singapore.”
“The one-year pilot extension of liquor trading hours has seen strong interest from businesses. As of 31 May 2026, the Police have approved 88 applications for the extension of liquor trading hours from public entertainment outlets in these areas.”
“The Government does not make projections of domestic or regional demand for renewable diesel or sustainable aviation fuel. Demand depends on commercial considerations, evolving market conditions and regulatory developments across different jurisdictions.”
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“From 2021 to 2025, the Ministry of Trade and Industry (MTI) and the Competition and Consumer Commission of Singapore (CCS) received a total of four complaints on the quantum and/or transparency of festive surcharges by retail and food establishments, with two received in 2021 and two in 2022. Where relevant, the consumers were advised to seek assistance from the Consumers Association of Singapore. No further follow-ups were required from MTI or CCS.”
“We have also hosted events, such as the recently concluded Singapore Space Summit 2026, which brought together international representatives of space agencies and companies, as well as researchers and investors to strengthen partnerships and advance collaboration across the space value chain. Within the Association of Southeast Asia Nations, we have had decades of cooperation in space technology applications to address common challenges, such as food security, environmental monitoring and disaster management. We will build on these strong foundations to explore new avenues for cooperation.”
“For example, Ngee Ann Polytechnic recently announced a space technology specialisation for third-year engineering students. Similarly, our universities also offer courses covering satellite-related systems and applications. Mid-career professionals with experience in adjacent industries, such as aerospace, microelectronics, precision engineering and artificial intelligence form an important part of the talent pipeline for the space sector. In addition, professionals with backgrounds in domains, such as finance, maritime, aviation and sustainability, possess valuable domain expertise for companies developing satellite data and space applications. For talent development, the Singapore Economic Development Board (EDB) and Enterprise Singapore administer the Industrial Postgraduate Programme (IPP), which companies can tap on to train their employees. The Office for Space Technology & Industry (OSTIn) currently administers the Space Technology Development Programme (STDP) which supports the training and employment of researchers, scientists and engineers under qualifying research and development programmes. The STDP will be overseen by the National Space Agency of Singapore when it is set up from 1 April 2026. Lastly, outer space is a global commons where international cooperation is essential. Singapore is keen to contribute constructively towards international and regional space cooperation and has been an active participant in international platforms that discuss space governance, rules and norms, such as the United Nations Committee on the Peaceful Uses of Outer Space.”
“Space technologies have the potential to strengthen Singapore's open and highly connected economy. Our strong foundations in space-adjacent sectors, such as aerospace, microelectronics, precision engineering and artificial intelligence, position us well to participate in the rapidly expanding space economy, valued at US$630 billion in 2023 and projected to reach US$1.8 trillion by 2035. Singapore has established niche capabilities in selected satellite technologies and applications. These include small synthetic aperture radar satellites, satellite quantum secure communications, inter-satellite data relay systems as well as downstream satellite applications supporting the maritime and sustainability sectors. We will continue to invest in next-generation space capabilities, such as advanced Earth observation and communications satellite technologies, geospatial applications, as well as in emerging areas, such as climate-related and space sustainability technologies. These are high-growth segments of the global space economy and have the potential to generate economic value-add for Singapore and good jobs for Singaporeans in engineering, data science and geospatial analytics. Mr Lye also asked about developing a talent pipeline for the space sector. As space is an inter-disciplinary field, the sector offers multiple pathways for Singaporeans to build meaningful careers. The talent needs for the space sector are generally met by graduates trained in disciplines, such as electrical and mechanical engineering, computer engineering, computer science and data science. Our Institutes of Higher Learning also offer relevant programmes that enable students to learn about, design and build satellite systems and space-related applications.”
“The Technical Reference 76 on e-commerce transactions (TR 76) has been progressively enhanced to address emerging consumer protection concerns in e-commerce transactions. Most recently, it was updated in September 2025 to strengthen guidelines on enhancing consumer trust, promoting fair competition and reinforcing anti-scam measures. For instance, the updated TR 76 provides further guidance for e-commerce players to ensure accurate product listings, tackle fake product reviews and promote transparency in communications with merchants. Social commerce transactions, which involve the purchase of products or services through social media platforms, have emerged as a growing mode of e-commerce. The TR 76 does not specifically cover social commerce activities currently. However, many of its recommended practices are applicable to social commerce transactions. These include ensuring transparency in product listings and presenting information in a clear, accurate and fair manner. In addition, the Singapore Code of Advertising Practice, administered by the Advertising Standards Authority of Singapore under the Consumers Association of Singapore, sets out guidelines on ethical advertising practices which social commerce content creators need to abide by. The Government will continue to closely monitor developments in social commerce and work with relevant stakeholders to assess whether further guidance on social commerce transactions is necessary.”
“The changes to the Key Household Income Trends (KHIT) report were made partly in response to Singapore's changing demographics. With our ageing population, there is a growing proportion of retiree households who do not have employment income but may have income from non-employment sources, such as annuities, including from Central Provident Fund, rental, investments and regular allowances from their children. Expanding the household income definition and household coverage ensures a more complete representation of resident households and their income trends. The changes made to the household income definition and coverage in the KHIT report are now aligned with international practices and follow longstanding efforts to improve data on non-employment income, which can be challenging to measure. In particular, Singapore's Department of Statistics took reference from the Canberra Group Handbook on Household Income Statistics, an international guidance manual for the compilation of household income statistics that is widely used by other major national statistical agencies. For better comparability in the KHIT 2025 report, the revised household income definition and coverage have been applied retrospectively to annual household income statistics from 2015 onwards.”
“I have addressed Parliamentary Question No 9 in my Prime Minister's Office Committee of Supply speech on 26 February 2026.”
“Thank you, Chairman. Let me make a correction. I spoke earlier on green procurement and said that the Government has set aside up to 4% of tender evaluation criteria for environmental sustainability considerations. That was incorrect. It should be 5%. Thank you, Chairman.”
“Thank you. Again, the answer is yes. We will need to be flexible. But I think it is very important for us to ensure that we maintain the broad balance. I am not talking about the decimal digits, but it is important to maintain the balance so that we do not change the overall texture of the society. I think that is the main consideration.”
“Again, the short answer is, yes. We are keeping all options open, so we will take a fresh look at many of these applicants. But some of them do have reasons why we had not granted them PRs or citizenship. So, I think we will continue to look at, but I think we take a fresh look this. We are quite serious about having to make sure that we are able to bring in more new citizens and new PRs. With new citizens, we need to have more new PRs, because that is a pipeline the citizens will come through. So, this is something that we will continue to look at and we will also look at different sources, a variety of sources of these potential immigrants. But the key is really assimilability and there is a whole series of factors that we will need to consider, including our ethnic composition balance. We also want to make sure that we maintain certain balance among our population composition. So, those are factors that we have to take into consideration when we evaluate the applications.”
“The short answer is, yes, we will, of course, encourage younger new citizens to come and join us. But also, bearing in mind that many of them by the time they are well established, when they are looking at a place where they can trust to settle down, they may have been here working for some years and they have been here as PRs for some years, so they may no longer be that young. But hopefully, they have their own children here. But sometimes, their children may not be born in Singapore: they will be new citizen babies, so I think we just have to strike a balance. At the end of the day. I think the ability to assimilate is one very important factor in our consideration, both for PRs as well as for citizenship.”
“We will redouble our efforts to support Singaporeans to aspire to marriage and parenthood, and to realise their dream. This has always been and will continue to be our fundamental policy and priority. We must never let up in supporting Singaporeans to have families. We will also continue to review our immigration intake and approach, making sure to address the concerns of Singaporeans. We will continue to study how we can further strengthen our investment in key areas for Singaporeans – education, housing, healthcare and jobs. This way, every Singaporean will have the assurances, opportunities and support needed to realise his or her aspiration in our shared vision. But the existential challenge of our low TFR is not something that the Government can tackle on our own. Earlier someone asked the Prime Minister whether we have a target for TFR. It is extremely difficult to set a target on something that we do not control ourselves. We ask Singaporeans to partner us in this effort. We welcome all debate and fresh ideas on how we can do so. Our path ahead will not be straightforward, but I am confident in our ability to adapt and thrive. Together, we will build a vibrant and resilient Singapore for present and future generations. [Applause.]”
“At the same time, we will press hard to raise productivity in construction. MND set up an action team earlier this month to work with industry players to improve productivity and help companies save time, save costs and save manpower. Across the board, we will do what we can to raise productivity to reduce our reliance on foreign manpower. The recent moves to simplify the levy framework, expand sources and raise the maximum age and period of employment for Work Permit Holders, will nudge businesses to hire and retain higher-skilled workers so that they can do more with less manpower. Looking ahead, our total population for the next five years will hopefully still grow but most likely at a slower rate than over the past five years. And our total population will still be significantly below 6.9 million by 2030, as we have said earlier. Beyond 2030, if present trends continue, it will take us a considerable time to reach 6.9 million. Let me be clear that we are not chasing growth for the sake of growth. Economic growth is the means to an end, which is to improve the lives of Singaporeans. Our overarching goal has been and will always remain to serve the interests of Singaporeans. We will keep close track of the population size and composition to ensure that the trends are sustainable, that infrastructure needs are met in a timely and adequate manner and that ultimately, Singaporeans benefit from our population policies. To conclude, our falling TFR presents a serious and profound existential challenge to our society, our economy and our security. The Government must and will do its utmost to address this challenge. This is our commitment to all Singaporeans.”
“The Ministry of Culture, Community and Youth (MCCY) has partnered the business community via the Alliance for Action on the Integration of Foreign Professionals, to develop initiatives to better integrate foreign professionals into the workplace and the community. MCCY and the Ministry of Manpower will elaborate further on some of these initiatives at their own COS debates. As Mr Edward Chia and Mr Yip Hon Weng noted, we also need foreign workers to meet our social needs, and they ask if we can have more flexibility. For example, migrant domestic workers help look after our young children and our aged parents, giving us peace of mind while we are out at work. We also need migrant construction workers for major infrastructure projects – they help build our flats, hospitals, roads, Mass Rapid Transit (MRT) lines and critical projects like Changi Airport Terminal 5 and the Tuas Port. These workers make up almost half of our foreign workforce population. Demand for these groups will fluctuate, depending on economic and construction cycles. For example, post-COVID19, we had to catch up on a series of important construction projects, including Build-To-Order flats. This strong demand led to a 6% annual growth, or a 36% growth cumulatively, in the number of Construction Work Permit Holders over the last five years. These migrant workers are transient and do not compete with Singaporeans for jobs. But it is important that we plan ahead to support their presence here, including catering for dormitories and housing, transport and recreational spaces. If we can do this well, it will give us more flexibility and capacity to allow for temporary surges in their numbers while minimising the impact felt by Singaporeans.”
“With a $242 million expansion and a new training academy supporting its growth plans, SAESL expects to create 500 additional jobs for local skilled engine technicians over the next five years. SAESL is working with Singapore Polytechnic to align its training curriculum with industry needs to better prepare our students to take up these jobs. This expansion will be complemented by a foreign workforce undertaking specialised roles, such as non-destructive testing and plasma treatment. 5.30 pm There are many other companies like SAESL whose growth has generated new opportunities for Singaporean workers. Overall, in the past 10 years, the number of Singaporeans in professional, managerial, executive and technical (PMET) jobs has increased by 308,000 while the number of Employment and S Pass holders increased by 24,000. This is over 10 years. But we understand the job anxieties Singaporeans have, especially in this time of global uncertainty. The number of Employment and S Pass holders is small, making up less than a quarter of our foreign workforce. The issue, therefore, is less about total numbers, but about the issue of job competition and fair treatment at the workplace, as raised by Mr Xie Yao Quan and Mr Yip Hon Weng. We are stepping up our efforts not only to create good jobs for Singaporeans, but to upskill Singaporeans so they can take up these high-value jobs. At the same time, we will strengthen measures to ensure fair hiring and employment practices and to ensure fair opportunities for Singaporeans. Last year, we passed the Workplace Fairness Act to strengthen protections against workplace discrimination. Lastly, beyond legislative and policy safeguards, we can do more to make the workplace more conducive for all.”
“In the past five years, our foreign workforce grew at an average of 3.3% per annum, primarily driven by post-COVID-19 catch-up in construction. Excluding Construction Work Permit Holders, the foreign workforce grew more slowly, at an average of 2.5% per annum. But as our citizen population grows more slowly, we will keep a close watch on the growth of the non-resident population, which include foreign workers, to ensure that Singapore citizens remain the majority of our population. As we bring in foreign workers, our policies are designed to ensure they complement our Singaporean core. As announced at Budget, we will increase our Employment Pass and S Pass qualifying salaries to keep pace with local wage benchmarks. The Complementarity Assessment Framework (COMPASS) also ensures that firms bring in Employment Pass workers that contribute to our economy while the firms continue to build up their local talent pipeline. We will continue to carefully manage the numbers and concentrations of Employment and S Pass holders and ensure that they complement rather than compete with locals. We will also carefully manage the number of Work Permit Holders using levy and quota systems. We need skilled foreign workers to help fill critical manpower gaps, to help our companies build up new capabilities and to support the growth of our economy. This ultimately creates more jobs and opportunities for our people. Take for example, aerospace company Singapore Aero Engine Services Private Limited (SAESL). This is Rolls-Royce’s largest global maintenance, repair and operations facility for Trent engines, which currently employs 1,300 local staff.”
“It is critical that we maintain a stable citizen core, hopefully one that is growing modestly over time, to keep our society and our economy dynamic and vibrant. Last year, we granted around 25,000 citizenships. We expect to take in between 25,000 and 30,000 new citizens annually, over the next five years, depending on our demographic trends including our TFR. We will also have to adjust our PR intake, as permanent residence is the pathway to work towards citizenship. Our PR population has remained stable over the past few years, at around 540,000. We estimate an intake of about 40,000 PRs annually in the next five years, slightly higher than the 35,000 PRs we granted last year. That said, we will adjust the actual number of immigrants we take in year by year, depending on our TFR trends, other demographic factors and the number and suitability of applicants. We will also keep in mind our infrastructure and the society’s capacity to take in these immigrants. With these adjustments, we hope to maintain a stable citizen population and perhaps, with a modest growth. Like I mentioned earlier, our citizen population growth has slowed down from 0.9% to 0.8%, to 0.7% last year, if you recall what I said just a while ago. Going forward, the citizen population will likely grow even more slowly, maybe about half a percent; that is what we are thinking about. But even at half a percent, this is going to be hard because it would depend on the TFR being held up. That is why we cannot give up. We will review again by 2030, taking into account further changes in our TFR and other demographic trends. Our local workforce growth has also slowed. We will continue to need a diverse foreign workforce to supplement the local workforce and support our economic and social needs.”
“The People’s Association is also working through its network of over 1,500 Integration and Naturalisation Champions to drive integration in local communities and foster good relations between new citizens and their Singaporean neighbours. Our immigrants came from different cultures and traditions. It will take time for them to integrate. First-generation immigrants will need to adapt to our norms and customs, but their children are likely to integrate more easily, especially if they grow up in Singapore. Take, for example, Bipule Jain, who arrived in Singapore in 2007 with his wife and six-month-old son on a work assignment. What began as a temporary relocation became permanent, as his Singaporean colleagues welcomed him and introduced him to our local culture. Bipule actively immersed himself in the local community – trying local food, picking up Singlish, volunteering at his son’s school and in the community, and making new friends along the way. In 2017, he took a significant step by enlisting in the Singapore Armed Forces Volunteer Corps, initially to teach his sons about National Service, but he soon developed a deep passion for defending Singapore. Today, Bipule’s elder son, that six-month-old baby who arrived in 2007, is following in his father’s footsteps and proudly serving his National Service. Bipule, his wife and his two sons are PRs, and have applied for citizenship. Their story shows us what is possible when we open up our doors and hearts to newcomers. Over time, many of them become our friends and eventually fellow citizens, working together in one Singapore team to build a brighter, better home for all of us.”
“We will maintain the broad ethnic balance of our citizen population and continue to carefully manage the impact of immigration on our population composition to preserve the overall texture of our society. We will carefully manage the pace of immigration and ensure we do not bring in immigrants faster than we can accommodate. This means making sure the development of public infrastructure, like housing, transport and services, keeps pace with the growth of our population. We will also continue to be selective about who we bring in. As Mr Edward Chia noted, many of the immigrants we take in today either share family ties with Singaporeans or have studied, worked or lived in Singapore for quite some time. The majority of our immigrants are also of working age, contributing to our economy. We will continue to explore further ways to ensure that immigrants are committed to Singapore. Mr Shawn Loh spoke about how we must place greater emphasis on integration, and we agree. We will step up integration efforts, creating more opportunities for citizens and immigrants to interact, connect and build relationships and trust. There are ongoing efforts to help immigrants integrate and become familiar with local culture. All new citizens between the ages of 16 and 60 go through the Singapore Citizenship Journey, so that they understand our history, our norms, our values and build stronger ties with the local community. We also piloted a new Permanent Resident (PR) Journey programme last year to help new PRs settle in and integrate, and we intend to scale it up shortly.”
“The decline in fertility is a multi-faceted challenge. It reflects broader generational shifts in life priorities and mindsets. Attitudes towards marriage and parenthood are shaped by many factors – workplace norms, employer practices, availability of familial and community support and social attitudes towards having and raising children. We need to address these issues holistically and not simply blame it on any particular single factor. We will do more to strengthen support for Singaporeans in their marriage and parenthood journey. Minister Indranee Rajah will speak later about the whole-of-nation reset needed to support Singaporeans in starting families. Let me speak plainly about the realities before us. Even as we redouble our efforts to support Singaporeans in starting families and having more children, we will still need a carefully managed immigration flow to augment our low birth rates. Most Singaporeans recognise the case for immigration. A 2021 IPS survey found that over 75% of Singaporeans agreed that immigrants are generally good for Singapore’s economy and 62% agreed that immigrants improve Singapore society by bringing in new ideas and culture. But we know that is not the full picture. While Singaporeans can accept the need for immigration in the abstract, they also have personal concerns and anxieties. Will bringing in immigrants mean fewer job opportunities for us? Will the Singapore that my children grow up in feel vastly different from the one that I grew up in? I understand these concerns, and we take these concerns over competition and our social fabric seriously. We will continue taking steps to address them.”
“That is our citizen population growth rate. If no new measures are taken, our citizen population will start to shrink by the early part of 2040s. Fewer births today mean fewer young people over the next two to three decades. You cannot overnight give birth to young people. So, if you have fewer births, it means you have fewer young people for the next two or three decades. A smaller working-age base will have to support a rapidly growing elderly population. Familial support networks will weaken as family sizes shrink and each family member in the younger generation will have to carry a heavier load. At the macro level, a declining population means less vitality in our city and our economy. Our economic growth and correspondingly, our income growth will slow. At the same time, our healthcare and social spending will have to increase to support our growing population of seniors. This tremendous strain will be felt at the national level but also at the individual households. And with fewer citizens, it will become increasingly difficult to meet our national security and national defence needs. This raises the deeper question of what Singapore will be 50 or 100 years from now. Will we remain vibrant, liveable and relevant? Will we exist? Our first and top priority is to continue to support Singaporeans in forming families. Over the years, we have consistently invested in our families. We have steadily enhanced support for families in housing, preschool, education and healthcare. To better support working parents in managing their work and caregiving responsibilities, we also recently introduced the new Shared Parental Leave scheme and doubled the mandatory Government-Paid Paternity Leave from two weeks to four weeks. But we will need to do even more.”
“At the same time, our population is ageing faster than ever, with the Baby Boomer generation now in their 60s and beyond, and I am one of them. Last year, one in five citizens was aged 65 and above, compared to one in eight in 2015, just 10 years ago. This is an existential challenge. What does 0.87 mean? Well, let me try to illustrate. Assuming our TFR stays at 0.87 or thereabout, based on a simplistic calculation, just to keep it simple and to illustrate, for every 100 residents today, we will have just 44 children, and we will just have a mere 19 grandchildren. That is the third generation. That is the effect of 0.87. 5.15 pm Or put it in another way, this room when we fill it up, it is about 100. In the next generation, it will be less than half of us around, around the optics that we had during COVID-19 when we had to have safe distancing. And the next generation is just about the front row, one row. Not two rows. One of the front rows; 19 of us will be left. So, that is what 0.87 means. Over time, it will be practically impossible to reverse the trend because we will have fewer and fewer women who can bear children. The Prime Minister said we have not given up and he emphasised that we will not give up. Let me add one more: we cannot give up. [Applause.] Low birth rates and an ageing population will profoundly reshape our nation, our society and our economy in the years ahead of us. Even with immigration, the growth of our citizen population has slowed over the decade – falling from an average of 0.9% per annum over 2015 to 2020, five years, to 0.8% per annum over 2020 to 2025; 0.9% to 0.8% in the last five years. Last year, it grew just 0.7%. So, just to recap – 0.9% in the first five years, 0.8% in the next five years, 0.7% last year.”
“Sir, earlier I spoke about the urgent realities of climate change. Now, I turn to a challenge equally fundamental to Singapore's future – our population. Our people are our primary resource. In the early years of our Independence, demographics worked in our favour. While many of our forefathers were new immigrants, most had become citizens. We had a young and growing citizen population then, which helped grow our economy, build up our Singapore Armed Forces (SAF) and develop our nation. Fast forward 60 years, this is no longer the case today. Birth rates are falling at an unprecedented pace and our population is ageing rapidly. We are not alone in facing these trends. Many developed and even developing countries are grappling with these same issues and I certainly hope we can learn from Korea, as Ms Cassandra Lee mentioned. However, Singapore's small size makes us exceptionally sensitive to demographic shifts. We must proactively manage these changes, to continue to thrive as a nation. Last year, we welcomed around 27,500 resident babies. Every one, a precious gift and we celebrate with each and every child born to us. They are the future of our country. I meet many of them when I join Punggol activities. For a short while, I thought we had solved our problem! Unfortunately, that was because Punggol was a new town. This is, in fact, the lowest birth number ever in our recorded history. The overall trend is also of grave concern. Marriage rates have come down. Those who are married have fewer or no children. Our birth rate has reached a new low. Our preliminary resident TFR for 2025 is 0.87. This is a significant drop from the TFR of 0.97 that many of you quoted for the year before, and much lower than the TFR of 1.24 just a decade ago.”
“Mr Chairman, with your permission, Minister Indranee Rajah and I will take any clarifications after both our speeches.”
“Thank you, Chairman. We adopt a multi-pronged approach to ensure our energy supply and security. Today, we rely primarily on natural gas and even our natural gas supplies are imported. We do not produce our own natural gas, so there is a certain need to ensure supply resilience, and this is something that we always think about, we always consider and we need to invest. To some extent, we build storage system for the natural gas. We have long-term contracts and we also have multiple contracts with multiple suppliers and that will ensure our supply chain resilience. And similarly, as we explore alternative energy sources, we must also keep in mind this is energy security. Whether it is an import of electricity, whether it is import of other possible energy sources, we will always have to bear in mind this energy security. One strategy is really diversification. The other way is to make sure that you have long-term contracts, you have secured contracts and you have alternatives. So, we would not be able to rely on any single particular source, any single particular form of energy. So, I think diversification is our key strategy in ensuring energy security. Of course, we need to do as much as we can internally and that is why we are maximising our solar deployment and explore other alternatives, including the possibility of a nuclear at some point in time.”
“Thank you, as I said that we are assessing and evaluating the proposal. We will discuss with the Singapore Business Federation further and to see how we can structure it, so that it is effective and be inclusive, so that it will be effective in helping our companies and helping our professionals to be trained and to be ready for this transition.”
“Thank you, Chairman. On the carbon allowance, MTI will respond to that issue during MTI's COS. On the regional cooperation, indeed, we are working with international partners to reach out to our regional contacts, especially in the developing countries, to help to train professionals and to help to train skills development to do capacity building, so that we can come together and move forward together in this journey towards climate action. So, I think we are indeed doing this, together with our international partners.”
“The annual increase in global carbon emissions is now at 0.3% – one-fifth that in the decade before the Paris Agreement was signed – although this is still not enough to keep global warming below 1.5 degrees Celsius. Singapore's task is not to posture, but to prepare and to act. We are a climate realist. We will watch developments in global climate action and key technologies that will inform the pace at which we ought to move. We will do what we must, to secure our survival and prosperity in the low-carbon and climate-impaired world of the future. By decarbonising steadily and adapting decisively, we will ensure that Singapore remains competitive, liveable and resilient for many decades ahead.”
“At the 2023 United Nations Climate Change Conference (COP28), we launched the Financing Asia's Transition Partnership (FAST-P) to bring together public, private and philanthropic partners to finance Asia's green transition. Singapore has pledged up to US$500 million to FAST-P, with the aim of crowding in up to US$5 billion of commercial capital. The Green Investments Partnership under FAST-P has achieved its first close with US$510 million in committed capital – 10 times the Government's initial contribution of US$50 million. This will be deployed to support green and sustainable infrastructure projects. We are also doing our part to support the development of high-integrity carbon markets and rolling out novel types of carbon credits such as energy transition credits to support early coal phase-outs in the region. These efforts reduce regional climate risks, strengthen economic resilience and reinforce Singapore's role as a trusted and credible partner. 4.00 pm Finally, mitigation alone is not enough. Even under optimistic scenarios, the world will face increasingly severe climate impacts. We must undertake adaptation as a core pillar of our long-term climate resilience. We are developing a National Adaptation Plan to strengthen resilience across infrastructure, public health, water, food and coastal protection. We are ramping up targeted measures, particularly to address heat stress. The Ministry of Sustainability and the Environment will elaborate on this. Mr Chairman, the road ahead will be bumpy. Global climate action will remain uneven. Technologies will mature at uncertain speeds. The cost impact will need to be managed carefully. But the direction towards a low-carbon future is clear and we are heartened that the world has made meaningful progress.”
“Since last year, the Government has set aside up to 4% of tender evaluation criteria for environmentally sustainable considerations for large construction, and information and communications technology (ICT) hardware tenders. [Please refer to clarification later in the debate.] This provides opportunities for our businesses to build a track record to meet the demands of other buyers and investors who are seeking green goods and services. For example, large companies with significant purchasing power such as Siemens and Schneider Electric have their own green procurement frameworks globally. We continue to support greener procurement choices in a manner that takes into account industry readiness and international developments. Most importantly, as Mr Ng Shi Xuan and Ms Nadia Ahmad Samdin have said, we will support our workers to capture opportunities in this green transition. For example, we are implementing new training programmes in sustainability reporting and in the energy sector, two priority areas identified by the Green Skills Committee. To pull together the many strands of work, the Singapore Business Federation has recommended establishing a public-private Carbon Transition Council to support companies in transition planning and seize green opportunities. We are assessing the proposal and will provide an update in due course. Climate change cannot be solved by any single country. It requires collective action. Even as we press on domestically, we are working with international partners to push ahead with global climate action. Singapore contributes by catalysing flows of finance and shaping credible frameworks.”
“Building on this momentum, we will operationalise our fifth agreement on 31 March with Thailand, with a call for projects under our partnership. This marks our first operationalised agreement with an ASEAN member. We are creating clear demand signals for carbon credits. Last September, we announced the award for about two million tonnes of high-integrity, nature-based credits from projects in Ghana, Paraguay and Peru. A second Request for Proposal for both technology and nature-based carbon credits is currently in progress. Looking ahead, we are exploring novel solutions such as biomethane, low-carbon hydrogen solutions and nuclear in the longer term. Not all pathways will succeed. But we must continue to study our options and create more options for Singapore. The climate transition will create new growth opportunities in areas such as green manufacturing, carbon services and trading, and sustainable finance. We will help our enterprises navigate this transition and thrive in this future economy. We have a suite of support schemes that businesses, particularly SMEs, can tap on. This includes the Enterprise Sustainability Programme and the Enterprise Development Grant. In addition, we are supporting companies to build capabilities, including in sustainability reporting through schemes such as the Sustainability Reporting Grant. This helps them remain integrated into the global supply chains. As Mr Mark Lee noted, green procurement is another important enabler for the transition. Green procurement stimulates demand and revenue for companies that can operate more sustainably and offer lower-carbon products.”
“This makes it difficult for them to compete with firms operating in locations with low or no carbon tax. We are engaging these affected companies to support their transition. We will also support households to manage energy costs through additional U-Save rebates as we have announced. Ms Poh Li San and Mr Azhar Othman asked about progress towards our climate goals. We are making steady progress on various fronts. For example, we have reached our 2030 solar deployment target of two gigawatt-peak ahead of schedule and will raise our 2030 target to two gigawatt-peak, as announced by the Prime Minister in his Budget speech earlier. The Ministry of Trade and Industry (MTI) will provide more details on clean energy during its Committee of Supply (COS). We have also made good progress in the built environment and land transport. We have greened 66% of our buildings as of last year, up from 61% the year before. We are on track to reach 80% by 2030, reducing emissions while helping businesses to save cost on energy. We are also progressing well towards our goal of having all vehicles run on cleaner energy by 2040. Last year, 85% of newly registered cars were cleaner energy models, up from 82% in 2024. EVs were the top-selling new cars registered last year. Every effort matters. Together, they form the backbone of our domestic mitigation effort. Because our domestic options are limited, cross-border solutions are essential. Carbon credits is one example. Carbon credits allow us to decarbonise by financing emission reductions in overseas sites where there is greater potential for decarbonisation. To date, we have signed 10 Implementation Agreements with countries such as Vietnam, Thailand and Peru. We have successfully operationalised four of these agreements so far.”
“This increase, which is small for households but more significant for energy-intensive companies, leads to two effects. First, this drives end-consumers such as data centre operators to be more energy efficient, which helps to promote more sustainable adoption of AI. Second, this narrows the difference in costs between cleaner energy alternatives and fossil-fuel based options. Carbon pricing is gaining traction globally. Carbon pricing adoption continues to expand, driven in part by measures such as the EU's Carbon Border Adjustment Mechanism, which started this year. The UK will introduce theirs next year. In our region, Thailand introduced a carbon tax last year, Malaysia plans to do so this year and Japan will make its national emissions trading system mandatory this year. For Singapore, decarbonisation will be more costly than for many other economies because of our resource constraints and lack of alternatives. This means our carbon tax must be right-priced to spur companies to invest in low-carbon technologies and reduce their emissions. But pacing also matters. As Mr Mark Lee and Ms Lee Hui Ying have noted, we must manage the near- to medium-term cost impact on our households and businesses, relative to our regional competitors. We are therefore reviewing the carbon tax trajectory for 2028 and beyond, and will announce future rates in advance. If the global push for climate action slows down significantly, we may need to position ourselves toward the lower end of the previously announced range of $50 to $80 per tonne by 2030. We will support our households and businesses through this transition. It may be challenging for some companies in emission-intensive and trade-exposed sectors to decarbonise in the near term.”
“While what we do alone cannot solve this global crisis, we must make our contributions as a responsible member of the international community. This spurs others to do likewise and helps us secure our own long-term competitiveness and resilience in a carbon-constrained world. Third, Singapore is alternative-energy disadvantaged. Mature and easily deployable decarbonisation options are simply not available to us. Our transition will be more challenging and will require more lead time. Therefore, Singapore needs to prepare early for a world that will become increasingly carbon-constrained and climate-impaired. If we delay action, the eventual adjustment will be sharper, more costly and more disruptive for us. At the same time, we must calibrate our climate actions carefully, taking into consideration global developments to manage near-term costs and competitiveness for our households and our industries. Let me outline now our approach. First, sending the right signal through carbon pricing. As we announced earlier, we have increased the carbon tax to $45 per tonne this year. As the world decarbonises, businesses and economies that are more emission-intensive will become less attractive to carbon-conscious investors and consumers. Carbon pricing sends a clear economy-wide signal that emissions carry a cost and that cleaner solutions have a value. Ms Lee Hui Ying and Ms He Ting Ru asked about the carbon tax and how the carbon tax can encourage sustainable AI usage and adoption of renewable energy respectively. Carbon tax plays an important role through the right-pricing signal. Power generation companies pass on their carbon tax burden to end users through higher electricity prices.”
“But we must be clear that while global progress has been uneven, it would be a mistake to conclude that climate action is no longer relevant. Some developed countries such as the UK and European Union (EU) members continue to make sustained emissions cuts towards their 2030 NDC targets. Over 130 countries have set NDC targets for 2035. In total, these targets cover around 80% of global emissions, including the US before it withdrew from the Paris Agreement. China, the world's largest emitter, has committed for the first time to absolute emissions reductions beyond its peak. Malaysia has done so too. South Korea's 2035 NDC target range is aligned to a linear pathway to net zero, with room to improve. Major economies are also continuing to make sustained investments in clean energy and technology. Clean energy now attracts around two thirds of global energy investment. In many countries, technologies such as solar and wind are already cheaper than some fossil fuel alternatives. For many countries and companies, investing in clean technologies is increasingly the rational choice – improving energy security, lowering long-term costs and creating growth and good jobs. Overall, while the current global picture is mixed and political momentum is uneven, economics, technology and nature will eventually drive the global transformation towards a low-carbon future. Against this backdrop, Singapore approaches climate change as a climate realist. We begin with three hard realities. First, climate change is real, worsening, and will shape the operating environment for our economy and society. Second, Singapore contributes only 0.1% of global emissions.”
“Mr Chairman, Sir, let me thank Members for their interest in the subject of climate change, which has long-term implications for Singapore's competitiveness, our energy security and our resilience. With your permission, I will take clarifications after this speech. Let me first begin with the fundamentals. Whatever the political debates of the day, the physical reality of climate change will continue its course. In fact, its effects are becoming more pronounced, more frequent and more costly. Globally, last year was among the hottest on record, with rising ocean temperatures and intensifying extreme weather events driving higher economic losses worldwide. These impacts are especially acute in Southeast Asia, one of the world's most climate-vulnerable regions. As a highly open economy dependent on regional stability and global supply chains, Singapore is directly exposed to these risks. In short, climate change is no longer a future risk. It is already affecting lives and livelihoods, here and now – and the costs of inaction will only continue to rise. At the same time, we must acknowledge the reality on the ground, especially on the political front. Global climate action is under strain. Some countries have slowed down the implementation of climate actions and started to review their climate policies. The recent decision by the US to withdraw from the Paris Agreement has introduced additional uncertainty into global climate cooperation. At the 2025 United Nations Climate Change Conference (COP30), countries could not reach consensus on the phasing out of fossil fuels. Some multinational companies have also scaled back their sustainability commitments. 3.45 pm These developments do present cause for concern.”
“Research Scientists and Engineers accounted for over 70% of such jobs. We will sustain our investments in talent and basic research. RIE2030 will seek to attract top and upcoming researchers while nurturing local talent across research, engineering and innovation domains. Talent schemes such as the National Research Foundation (NRF) Fellowships and Investigatorships, Returning Singapore Scientist Scheme and the NRF Professorship enable awardees to establish strong teams and access advanced facilities needed for ambitious and high-impact research. NRF has introduced a new Postdoctoral Award to support high potential postdoctoral talents to pursue independent research. International postgraduate scholarships for Singaporeans will also be enhanced to broaden global exposure and open up new avenues for value creation. These moves will help to strengthen Singapore’s deep tech and commercialisation talent pipeline. We will continue to attract top-tier and promising research talent and enhance links between our researchers and the global community, which will anchor a strong base of scientific capabilities here that will spur future breakthroughs and create value in the long term.”
“For climate science and adaptation, we will develop integrated solutions for flood prevention, urban heat management and coastal protection. We will strengthen Singapore's resource resilience through advanced water treatment, next-generation urban farming and circular waste management systems. Enhanced climate science capabilities will provide more precise weather forecasting and climate projections, strengthening Singapore's competitive advantage in weather-sensitive sectors like aviation and maritime. We will continue to support the building of strong collaborations between our research institutions and private sector partners to conduct industry-relevant research and development, and to commercialise inventions and technologies from publicly funded research. Through these collaborations, our institutions build up capabilities and know-how while meeting industry needs, enabling our researchers to commercialise their IP with companies, developing innovative products and services. This in turn spurs increased private sector investments in Singapore and the creation of new high-value jobs while further strengthening Singapore's RIE ecosystem. We are also scaling up platforms that bring together our institutes of higher learning (IHLs), public research institutes and industry to accelerate commercialisation of technological advancements in strategic areas including medical diagnostics and additive manufacturing. For example, we will continue to support the establishment of corporate laboratories between companies and IHLs, to address industry challenges and support their journey to becoming product builders. Our research and development (R&D) investments have also created good jobs. In 2023, more than 60,000 jobs were associated with R&D activities.”
“Mr Chairman, Dr Choo Pei Ling highlighted the need to anchor and capture value from innovation and sustain renewal within our talent system. RIE2030 will focus on contributing to our economy and national priorities, and ensuring our research capabilities and talent remain globally competitive. We will launch a number of new large-scale, cross-cutting RIE Flagships and RIE Grand Challenges. These will focus on research and innovation, which can drive outcomes in major economic sectors and key national strategic priorities. For example, the Semiconductor RIE Flagship seeks to strengthen Singapore's position as a strategic node in the global semiconductor supply chain, building new research capabilities and advancing the manufacturing of chips and semiconductor equipment in Singapore. The benefits from RIE investments extend beyond the economy to the society at large. The RIE Grand Challenge on Maximising Healthy and Successful Longevity, for example, aims to generate research insights and interventions that support healthy ageing and enhance our ability to slow the onset and progression of cognitive and physical decline. On the other hand, our National Precision Medicine Programme aims to develop more targeted treatments based on the genetic make-up of our patients and our population. RIE2030 will also address sustainability challenges through targeted investments in areas such as decarbonisation, climate adaptation and sustainable urban development. We will develop a comprehensive portfolio of decarbonisation solutions. We will also accelerate Singapore's nuclear safety research through the Singapore Nuclear Research and Safety Institute (SNRSI) to explore safe, clean energy options for our future energy mix.”
“The Energy Market Authority has issued Conditional Licences to six projects to import low-carbon electricity from Indonesia. These project developers are working to obtain regulatory approvals and meet development milestones and hope to begin commercial operations by the end of the decade. Project developers are currently in the midst of commercial negotiations on power purchase agreements with businesses that are large electricity consumers. For now, there is no plan to mandate the purchase of imported electricity. It is up to the project developers to decide whether to offer households retail plans for imported electricity and households can choose to take up these plans on a willing-buyer-willing-seller basis.”
“As announced at Budget 2026, we have increased the 2030 target for domestic solar deployment to 3 gigawatt-peak (GWp). Besides maximising the deployment of domestic solar, we are exploring other potential energy pathways that can decarbonise our power system. We are introducing next generation gas-fired power plants, that have a lower carbon footprint than the power plants in service today and can be adapted to operate on new low-carbon fuels, such as hydrogen. We are also pushing forward with our plans to import low-carbon electricity from the region and building our capabilities in low-carbon alternatives, such as advanced nuclear. Even as we pursue these various pathways, we cannot escape the fact that Singapore remains alternative-energy disadvantaged. Hence, the pace of our decarbonisation will ultimately depend on technological advancements and the extent to which other countries are prepared to cooperate with us.”
“The Ministry of Trade and Industry (MTI) and the relevant agencies issue advisories and conduct outreach programmes to raise awareness and build capabilities on export controls among the Singapore business community. For example, in April and June 2025, MTI and Singapore Customs issued advisories regarding unilateral export controls on advanced semiconductors and artificial intelligence technologies, as well as the importance of accurate permit declarations for exports. Singapore Customs also works with their international partners to conduct annual outreach seminars on export controls. EnterpriseSG works with the Singapore Business Federation and its Centre for the Future of Trade and Investment to provide tools, resources and advisory support for businesses to navigate and manage their trade operations. In addition, the Singapore Economic Resilience Taskforce (SERT) was established in April 2025 to support businesses and workers in navigating global economic uncertainties. SERT launched the Business Adaptation Grant in October 2025 to help eligible enterprises adapt their business operations and strengthen supply chain resilience. The grant supports activities, such as navigating trade compliance requirements, reviewing legal and contractual risks and pursuing supply chain and market diversification. The Government closely monitors global developments and will review the support measures for companies as needed.”
“The Autonomous Universities, A*STAR and other public research institutes collaborate with private sector partners to conduct industry-relevant research and development, and to commercialise inventions and technologies from publicly funded research. Through these collaborations, our institutions build up capabilities and know-how while meeting industry needs. At the same time, they contribute to the economy and strengthen our Research, Innovation and Enterprise (RIE) ecosystem. Beyond capacity and knowledge building, the Government also tracks various indicators to measure the success of these partnerships, including Intellectual Property licensing, development of innovative products and services, and formation of new startups. These collaborations between national research institutions and the private sector have been mutually beneficial. Our researchers are able to commercialise their intellectual property with companies, developing innovative products and services that help the companies stay globally competitive. This in turn spurs increased private sector research and development investments in Singapore and the creation of new high value jobs and further strengthens Singapore's RIE ecosystem.”
“As these companies expand and deepen their activities here, Singaporeans will have more opportunities and pathways to progress into specialist, managerial and leadership roles. Second, the Government will work with companies to strengthen the local talent pipeline. This includes partnerships with institutes of higher learning to offer internships and training programmes in our growth industries. Third, we will support our small and medium enterprises (SMEs) to grow and transform. SMEs can tap on the Partnerships for Capability Transformation scheme to help them pursue growth alongside multinational corporations, as well as schemes such as the Enterprise Innovation Scheme and Productivity Solutions Grants, both of which have been enhanced in Budget 2026. Fourth, we will support our companies to redesign jobs and upgrade their workforce. Companies can tap on Career Conversion Programmes to reskill their workers to take on jobs in growth areas. There will also be enhanced support for job redesign under the SkillsFuture Workforce Development Grant, as part of the Enterprise Workforce Transformation Package which will be rolled out from 2026. The Government is continually reviewing our economic and workforce strategies to ensure that we will continue creating good jobs for Singaporeans.”
“Despite a more economically fragmented and uncertain global environment, the Economic Development Board (EDB) secured in 2025, investment commitments comparable to recent years. The lower number of jobs committed in 2025 relative to 2024 reflects two factors. First, companies are more conservative in their hiring projections, given the challenging and uncertain environment. Second, many of the projects secured are more technology- and capital-intensive and therefore require relatively fewer workers, but each worker generates a higher value-add to the economy. Most of the 15,700 jobs committed over the next five years are for professional, manager, executive and technician roles, with two-thirds expected to command a gross monthly salary above $5,000. We do not have a breakdown of the number of entry-level versus senior management roles. These investments also generate positive spillovers for the broader economy. A 2025 Ministry of Trade and Industry study published in the Economic Survey of Singapore found that firms that are linked to EDB-supported companies enjoyed higher value-added per worker, local employment and local wages. As outlined at the mid-term update on the Economic Strategy Review, economic growth will be harder to achieve in a more challenging external environment. Moreover, technological change means we can no longer assume that growth will generate the same number of jobs as before. The Government continues to pursue an economic growth strategy to create good jobs for Singaporeans and support Singaporeans with skills training and upgrading to obtain the good jobs created. First, our economic agencies will continue anchoring high-value investments in key and emerging growth sectors, to create good jobs for Singaporeans.”
“The Government does not collect data on the profile of tenants in privately-owned or REIT-owned malls. Tenancy mix and tenant profiles in commercial developments are the result of commercial decisions made by both property owners and tenants and reflect market factors, such as consumer demand preferences and prevailing economic conditions. While the Government may not be privy to detailed commercial data of individual commercial properties, we monitor aggregated market trends as well as engage regularly with industry associations, small and medium-sized enterprises representatives and property stakeholders to understand the ground.”
“In 2025, the unit labour cost (ULC) of domestically-oriented sectors rose, while that of outward-oriented sectors declined. This divergence was due to weaker labour productivity growth in domestically-oriented sectors relative to outward-oriented sectors, even though the increase in total labour cost per worker was similar across both groups1. The Government is aware of the cost pressures faced by domestically-oriented businesses, especially the small and medium-sized enterprises. We have been helping them manage these cost pressures. The Government will further provide a Corporate Income Tax Rebate and Cash Grant, through which businesses can receive up to $30,000 in benefits in the Year of Assessment 2026. However, such assistance can only go so far. Businesses must continue to transform and upgrade to remain competitive in the long run. The Government will work closely with firms that are willing to embark on this journey. For instance, the Enterprise Development Grant supports Singapore companies in building new capabilities, investing in research and innovation, and venturing into overseas markets. The Government is also investing heavily in training and skills development to raise workforce productivity. For example, in domestically-oriented sectors, such as retail and food services, the Progressive Wage Model provides structured career pathways that incentivise lower-wage workers to upgrade their skills and increase productivity. We must continue pressing on with efforts to achieve broad-based productivity growth. This is the only way for businesses in Singapore to remain competitive and for Singaporeans to enjoy sustainable wage growth. The Government stands ready to provide further support to businesses and workers where needed.”
“The changes to the Key Household Income Trends report were made partly in response to Singapore's changing demographics. With our ageing population, there is a growing proportion of retiree households who do not have employment income, but may have income from non-employment sources, such as annuities including from CPF, rental, investments and regular allowances from their children. Expanding the household income definition and household coverage thus ensures a more complete representation of resident households and their income trends. Notably, the report now covers resident households comprising solely of non-employed persons aged 65 and over. This accounted for 49.3% of residents in the lowest income decile. The inclusion of these retiree households enables the Government to better understand the financial resources available to them and provide targeted support where necessary. Disaggregated household market income data for retiree households comprising solely of non-employed persons aged 65 and over is available and published on Department of Statistics' website. However, market income data for lone-parent households and households with at least one member with difficulty performing basic activities are not available annually but are reported in the Census and General Household Survey conducted every five years.”
“The Consumer Protection (Fair Trading) Act (CPFTA) protects consumers against misleading or false claims made by businesses, including those involving artificial intelligence (AI)-generated content. Consumers who encounter such claims by businesses can approach the Consumers Association of Singapore (CASE) for assistance. The Competition and Consumer Commission of Singapore (CCS) will also investigate and take enforcement action, where necessary, against egregious businesses. Thus far, CASE and CCS have not received complaints relating to misleading or false advertisements made using AI-generated content. To support a transparent and trusted digital marketplace, CCS has worked with e-commerce platforms and industry stakeholders to raise industry standards and promote responsible business conduct. This includes enhancements to the Technical Reference 76 industry code on e-commerce transactions to encourage the use of AI in a fair, safe and transparent manner. CCS has also introduced the AI Markets Toolkit to help businesses assess whether their AI models and practices comply with the CPFTA. For online property listings, the Council for Estate Agencies' (CEA's) Code of Ethics and Professional Client Care, under the Estate Agents (Estate Agency Work) Regulations 2010, requires property agents to ensure that all marketing materials accurately represent the property. In line with this, agents should provide sufficient disclaimers to inform consumers of the use of AI to alter or enhance images or videos. CEA has taken enforcement action against agents who have not done so. CEA is also reviewing its regulations to provide further guidance on the use of AI in property advertisements.”
“EnterpriseSG partners the small and medium-sized enterprises (SMEs) Centres to provide a wide range of support for the SMEs beyond just grant enquiries. The centres would typically assign a business advisor to guide the SMEs through their needs by ensuring they receive coordinated support tailored to their specific business requirements through a single point of contact. For more straightforward enquiries on grants, SMEs can access information on selected business grants administered by different Government agencies on EnterpriseSG's corporate website and the GoBusiness website, which include eligibility criteria and step-by-step guides for grant applications. These online channels are available for SMEs as the first port of call, so that they can more conveniently find and apply for the resources they need.”