Singapore budget aimed at securing the country’s future

Singapore’s Prime Minister Lawrence Wonghad announced on Thursday a Budget of over $154 billion dollars aimed at securing the country’s future in a time of ‘profound global change’. Wong laid out initiatives covering the economy, AI developments and critical growth areas. He said what will decide Singapore’s success in a changed world, is how it harnesses new technologies and emphasized that artificial intelligence can be a strategic advantage. 

Lawrence Wong, Singapore’s Prime Minister said “Singapore will organize itself at a national level to fully realize the potential of AI. These so-called ‘national missions will identify clear, ambitious problem statements in key sectors of the economy. This will help to focus resources and investments in finding AI solutions.”

He told that Singapore will establish new embassies and strengthen diplomatic and economic presence on the ground, to take better advantage of emerging opportunities in these regions.