2023-03-28
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World’s Best Cities Ranking: Singapore at Top in Asia

On March 24, 2023, Schroders, a global asset management company, released its “Global Cities Index” report, which shows that in terms of comprehensive indicators of economy, environment, innovation, and transportation, Singapore ranked first in Asia with a score of 9.43 and ranked eighth globally. Singapore scored the highest in the transportation category, ranking fourth globally with a score of 9.79, and eighth globally in the innovation category with a score of 9.02. As one of Asia’s and the world’s major hubs, a survey conducted in February 2023 showed that Singapore Changi Airport ranked fourth among the top 10 busiest international […]
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2023-03-29
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The Flight Safety Foundation will establish an Asia-Pacific aviation safety center in Singapore

On March 22, 2023, Singapore’s Minister for Transport, Mr S. Iswaran, said at the inaugural Asia Pacific Aviation Safety Summit that the Flight Safety Fund would establish the Asia Pacific Centre for Aviation Safety (AP-CAS) in Singapore. The new centre will serve as a thought leader in aviation safety and will facilitate the exchange of ideas and recommendations on safety awareness and promote regional cooperation. The AP-CAS will work on three key projects this year. First, the Centre will pull together safety data to identify risk areas specific to the Asia-Pacific region, and help develop targeted solutions. Second, it will […]
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2023-03-30
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Singapore : The new agreement will give local companies broader credit limits to offset the carbon tax bill

SINGAPORE – Companies looking to use carbon credits to offset part of their carbon tax bill could soon have a wider range of options to choose from, with the authorities inking new agreements with two international carbon credit organisations. The National Environment Agency (NEA), which oversees Singapore’s carbon tax regulations, said on March 2 that it has signed memorandums of understanding (MOUs) with the American Carbon Registry (ACR) and the Architecture for Redd+ Transactions (ART). NEA has signed agreements with three other international carbon credit registries so far: Verra, Gold Standard and Global Carbon Council. FOZL Group provides one-stop corporate services to […]
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2023-04-03
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Singapore’s construction industry: New registration system to help SMEs go digital

On March 28, 2023, Singapore’s Senior Minister of State for National Development and Ministry of Communications and Information, Mr Tan Kiat How, pointed out at the 12th BuildTech Asia Exhibition that while SMEs receive government funding for digitisation, they are not always in a position to assess how to implement it. As a result, the Building Professionals Federation of Singapore has worked with the Singapore Construction Authority to develop a Shared Services Registry (SSR) for relevant consulting services providers. These providers can help advise businesses on which solutions to adopt and how to customise them to meet their needs. In […]
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2023-04-05
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Singapore’s Ministry of Manpower announces details of COMPASS bonus criteria

On March 31, 2023, Singapore’s Ministry of Manpower has released details on the Complementarity Assessment Framework (COMPASS) bonus criteria, comprising the Skills Bonus and the Strategic Economic Priorities Bonus (Criterion 6). These bonus criteria allow Employment Pass (EP) applicants who possess skills in shortage, and firms that contribute to Singapore’s strategic economic priorities, to earn bonus points towards their total COMPASS score. These bonus points help companies secure the complementary foreign manpower necessary to seize economic opportunities in the immediate term, in recognition that there are limits to our local workforce. Announced at MOM’s Committee of Supply 2022, COMPASS is […]
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2023-04-06
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Singapore Department of Statistics: Retail sales up 12.7% year-on-year in February 2023

On April 5, 2023, the latest figures released by the Singapore Department of Statistics (DOS) showed that retail sales increased 12.7% in February 2023, reversing the 0.8% decline in January 2023.  On a seasonally adjusted basis, retail sales increased 3.9% in February 2023 over the previous month. Excluding motor vehicles, seasonally adjusted retail sales increased 2.0% compared to January 2023.  Total retail sales in February 2023 were S$3.6 billion, with online retail sales for about 12.4%. Food service sales grew by 21.6% year-on-year, with total sales of approximately S$898 million and online sales for approximately 23.2%. The data shows that […]
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2023-04-10
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Overseas Direct Investment Confidence Index: Singapore ranked 9th in the world

On April 3, 2023, according to the Foreign Direct Investment Confidence Index (FDICI) report released by the global management consulting firm Kearney, Singapore’s ranking surged from 18th in 2022 to 9th in 2023, indicating investors’ optimistic outlook on the Singapore’s economic prospects and further consolidating Singapore’s position as a regional hotspot for overseas investment. The ranking of this index is based on investors’ evaluations of government transparency, technological innovation, digital infrastructure, and trade opportunities, among others. Singapore’s investment environment is widely viewed as attractive due to its well-developed digital infrastructure and open market, which will facilitate the recovery of technology […]
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2023-04-12
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Singapore‘s Changi ranks 9th among world’s busiest airports in 2022

On April 5, 2023, the Airports Council International World released a ranking of the world’s top 10 busiest airports, with Singapore’s Changi Airport rising from 95th in 2021 to 9th in 2022 with an international passenger volume of 31.902 million. In 2019, Changi Airport was ranked 7th among the world’s top 10 busiest airports. In March 2023, at the “Global Airport Awards” ceremony held by UK consultancy firm Skytrax, Changi Airport was named “Best Airport Dining”, “Best Airport Leisure Facilities”, and “Best Airport in Asia”. Skytrax conducts a survey of over 60 nationalities of travelers each year to assess their […]
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2023-04-18
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Singapore to launch CheckWho, a new product by the end of 2023 to verify the identity of public officials and enhance government service security

On April 14, 2023, Singapore’s Smart Nation and Digital Government Group (SNDGG) issued a statement emphasizing the importance of maintaining trust in public institutions and ensuring the security of digital platforms, as more and more people’s lives and government services move into the digital space. To assist the public in verifying the identity of public officials who call them, SNDGG will launch a new product called CheckWho by the end of 2023. SNDGG will also collaborate with the Ministry of Trade and Industry of Singapore to enhance the one-stop GoBusiness digital platform, which supports daily transactions and long-term investments for […]
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