Singapore Is ‘Quietly Confident’ on Long-Term Outlook, Says Minister for Trade & Industry

The video discusses the current global trade tensions and their impact on economies, focusing on Singapore's long-term strategies for stability and growth. It highlights Singapore's efforts to attract investments, adapt to global changes, and maintain a pro-business environment. The discussion covers economic projections, potential recessions, and the importance of digital economy opportunities. Singapore's stance on WTO reforms and its developing nation status are also addressed, along with its approach to attracting global talent to support the digital economy.

What is necessary for two parties to settle their differences according to the discussion?

• Higher tariffs

• Increased competition

• Trust and structural adjustments

• Isolation from global markets

Why are companies like ExxonMobil and Nestle investing in Singapore?

• To avoid taxes

• Because of Singapore's long-term political stability and pro-business environment

• Due to low labor costs

• For better weather conditions

What is Singapore's approach to handling potential economic recession?

• Increasing taxes

• Reducing foreign investments

• Supporting businesses to adjust and diversify

• Cutting down on exports

What is Singapore's strategy to maintain competitiveness in a fragmented global trading system?

• Reducing digital economy initiatives

• Focusing solely on local markets

• Signing more free trade agreements

• Limiting trade agreements

How does Singapore plan to address the lack of talent in the digital economy?

• By facilitating access to global talent

• By limiting foreign talent

• By reducing technology investments

• By increasing local taxes

What is the purpose of the SG scheme announced by Singapore?

• To limit foreign investments

• To facilitate global companies' access to talent

• To increase local employment taxes

• To reduce the number of startups

What is Singapore's message to the world regarding business and talent?

• Singapore only supports local businesses

• Singapore is closed to foreign talent

• Singapore is reducing its global business presence

• Singapore is open for business and welcomes global talent