Gov't scrambles to shield businesses as US tariff shockwaves hit—new taskforce deployed in 3-front strategy
According to the latest Singapore Business Review report, the first meeting took place on April 16 and was chaired by Deputy Prime Minister (DPM) Gan Kim Yong. The task force includes representatives of different business sectors and labour unions.
The task force also has Ministers Desmond Lee (National Development and Social Services Integration), Josephine Teo (Digital Development and Information, Home Affairs), Tan See Leng (Manpower, Trade and Industry), and Chee Hong Tat (Transport, Finance), Singapore Business Federation chairman Lim Ming Yan, National Trades Union Congress (NTUC) secretary-general Ng Chee Meng, and Singapore National Employers Federation (SNEF) president Tan Hee Teck.
The initiative resulted when the Ministry of Trade and Industry reduced Singapore's 2025 gross domestic product (GDP) estimate to between zero and 2%, echoing fears over outside trade risks and latent disturbances in important sectors. What is the task force for?
According to a recent Asian Briefing story, SERT has three core focus areas.
The first, directed by Minister Josephine Teo and Mark Lee, concentrates on instantaneous data collection/assembly and business engagement. This guarantees that the government remains receptive to advances and changes and is aligned with industry requirements.
The second workstream, supervised by Minister Tan See Leng and leaders from NTUC and SNEF, is targeted at aiding businesses and workers to adjust to abrupt challenges.
The third stream, run by Ministers Desmond Lee and Chee Hong Tat, has a longer-term outlook. It aims to reinforce Singapore's position as an international hub by exploring new growth markets, enhancing affordability and attractiveness, and supporting changes in major industries.
These workstreams aim to promote better communication on support structures and strategies, address business challenges, respond to workforce issues, and develop approaches that could seize fresh opportunities for industries in today's economic landscape.
DPM Gan said that as the government prepares and equips itself to face more unsettled times ahead, it needs to work together and stay cohesive so that Singapore can face the challenges ahead and find new opportunities to flourish.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
11 hours ago
- Straits Times
From aviation to healthcare, workers have taken small steps to be early adopters of AI in Singapore
As part of a concerted push to become an artificial intelligence-savvy nation, there are plans to nurture a large pool of AI users across various sectors. SINGAPORE - As part of a concerted push to become an artificial intelligence-savvy nation, there are plans to nurture a large pool of AI users across various sectors in Singapore's 3.5 million strong workforce. These AI early adopters – who could be lawyers, accountants, doctors – will show their peers how the technology can be useful for daily tasks, said Minister for Digital Development and Information Josephine Teo at an AI conference on July 22. The size of this pool of users will have to far exceed the 15,000 AI practitioners that Singapore already aims to nurture and hire, Mrs Teo said, detailing how small states can compete on the global AI stage dominated by big boys such as the US and China. Singapore has already taken small steps in various sectors. Here are some early developments: 1. Banking – AI coach provides career development advice DBS' iCoach chatbot is available for use round the clock for employees in Singapore, Indonesia, China, Taiwan, Hong Kong, and India to start with. PHOTO: LIANHE ZAOBAO In July, South-east Asia's largest lender DBS Bank launched a virtual career coach developed with an external vendor to help its staff figure out future career moves within the bank and the necessary training to accompany the moves. Powered by generative AI, this chatbot can pick out potential career shifts and give advice on what needs to be done to qualify for the dream role. The answers are customised based on the chatbot's understanding of an employee's current role, skill sets and personal motivation. It is also able to provide tips on how to demonstrate sought-after traits for such roles, and highlight the available support for formal training they may need. Top stories Swipe. Select. Stay informed. Asia Live: Thailand, Cambodia clash with jets, rockets, artillery in deadly border row Asia 11 Thai civilians killed as Thai and Cambodian militaries clash at disputed border: Reports Singapore First BTO flats in Greater Southern Waterfront, Mount Pleasant to go on sale in October Singapore Boy, 15, charged after being caught with vapes 5 times; ordered to stay 2 years in S'pore Boys' Home Asia Vampire coach: Coercive blood sampling in school casts spotlight on Taiwan's 'obedient culture' Business MOM probing work injury claim flagged by late Sumo Salad boss Jane Lee: Dinesh Singapore What's key to a good life? Most Singapore residents choose emotional and mental well-being Singapore Over 2 years' jail for man who worked with wife to cheat her then boyfriend of $220k iCoach was trained on the banks' career development-related resources and advice from top leadership coach Marshall Goldsmith. The chatbot is available for use round the clock for employees in Singapore, Indonesia, China, Taiwan, Hong Kong and India to start with. The bank has around 41,000 employees across 19 markets currently. 2. Legal – AI service summarises case judgments for efficiency LawNet Technology Services chief executive and Singapore Academy of Law chief technology officer Kenta Kusano with LawNet, an AI service which can summarise case judgments that mostly exist as lengthy transcripts. PHOTO: ST FILE A new feature called LawNet AI , launched in 2024, has allowed around 6,000 lawyers in Singapore to say goodbye to sifting through endless walls of text contained within thousands of case judgments to prepare for their own cases. The Singapore Academy of Law and Infocomm Media Development Authority jointly developed the AI service, which can summarise case judgments that mostly exist as lengthy transcripts. It is accessible to users of the LawNet legal research portal, which nearly all lawyers subscribe to for looking up past cases and conducting research. Hundreds of AI-generated results were reviewed by justices' law clerks to reduce the risks of the AI service generating incorrect or nonsensical results. The reviewed copies were then fed back into the system, to increase its accuracy rate. Text in the generated summary is labelled with reference to the original sources, to help users fact-check the information with ease. 3. Healthcare – AI service helps nurses structure handover notes accurately CareScribe helps to summarise and structure handover notes for the incoming nursing shift, so nurses can use the time saved to tend to patients. PHOTO: LIANHE ZAOBAO It often takes up to one hour to hand over information about patients between shift changes. But an AI tool is being trialled at Alexandra Hospital to cut down the time taken to generate handover notes. CareScribe helps to summarise and structure handover notes for the incoming nursing shift, so nurses can use the time saved to tend to patients. 'Most handovers are currently conducted through verbal communication with handwritten documentation, which can present challenges in maintaining consistency and completeness,' said Dr Ravi Shankar, principal investigator and research fellow at Alexandra Hospital's medical affairs research office. CareScribe , which currently can be accessed via a webpage, allows nurses to upload photos or voice notes, which are then transcribed and summarised in a structured format. The notes are organised in an ABCDEFG template, which stands for acuity assessment, background history and behaviour, conditions and care plans, drugs, equipment, family and goals. Critical clinical information – such as patient safety alerts, medication-related updates and scheduled procedures – is also highlighted by the system. 4. Aviation – AI eye in the sky to scan airport runways for safety NCS Engineering Engineering Enterprise Project and Service Leadership co-lead Samuel Tan Pheng Seong (left), with his team, introducing iFerret. PHOTO: ST FILE Through a series of high-definition cameras, an AI system used at Changi Airport helps to scan the runways for any debris or foreign objects that can damage aircraft or disrupt flights. Dubbed iFerret , the system can pick up on a variety of interference such as metal parts, wildlife, animal carcasses and other objects as small as 4cm round the clock. 'When it comes to flights, the most critical period is take-off and landing, and even something as small as a monitor lizard can be a disruption and impact the process,' said a spokesperson for technology services provider NCS, which collaborated with Changi to develop the system. iFerret acts as an extra set of eyes for air traffic controllers, instead of relying only on airport staff who scan the runways several times daily. It is also trained to avoid flagging images that are false alerts, such as reflections on a damp runway.
New Paper
a day ago
- New Paper
FairPrice Group Food rescue initiative to have 60 distribution points
More vegetables and fruits will be shared with lower-income families and the elderly as FairPrice Group plans to expands its food rescue initiative to 60 distribution points by end-2025. The Neighbourhood Food Share (NFS) programme gives away vegetables and fruits that cannot be sold in supermarkets due to defects in their appearance but are not spoilt. It started in September 2023 with 15 distribution points and now has 51, providing more than two tonnes of fruits and vegetables a month. Since its launch, it has distributed close to 30 tonnes of fresh produce, and serves more than 25,000 beneficiaries a year. Minister-in-charge of Social Services Integration Desmond Lee said on July 23 that initiatives like this NFS are important because resources in Singapore are scarce. These programmes can only run because of the unspoken social compact in Singapore, where everyone is prepared to work together, he said at an event in Boon Lay to announce the expansion of NFS. For NFS, FairPrice Group leverages on its networks and supermarkets to provide good produce, on-the-ground groups work to publicise the events to those in need, and volunteers collect items and set up the distribution points, Mr Lee said. "We think about ways to work together to benefit society and people, and many of us are prepared to step forward and volunteer," he added. Other groups in Singapore that work towards reducing food wastage include Food from the Heart and The Food Bank Singapore, both of which collect unsold or excess food to be distributed to the public. FairPrice Group, which turns 52 in 2025, works with the People's Association and on-the-ground groups like social service agencies to connect disadvantaged residents or lower-income families with distribution events. They conduct outreach to ensure these families know when free produce is being given out nearby. In 2023, the National Environment Agency found that Singapore disposed of more than 755,000 tonnes of food waste, with a significant portion ending up in landfills. A portion of this waste is attributed to food nearing its expiry date or being deemed visually unappealing, even if it is still edible, the agency said. Madam Alice Lim, 89, was among more than 200 seniors who collected fresh produce at the July 23 event in Boon Lay. FairPrice Group has a distribution point near her home which gives out fruits and vegetables weekly. More than 1,400 families in Boon Lay benefit from the initiative. Madam Lim has lived in Boon Lay for 15 years. After her husband's death in 2020, she found it hard to leave her flat correct and would only walk nearby in the estate. "I am glad there is something like this near me. I don't like wasting food, so at least these things are going to us and not a dustbin," she said.
Straits Times
2 days ago
- Straits Times
Food rescue initiative by FairPrice Group to expand to 60 distribution points
SINGAPORE - More vegetables and fruits will be shared with lower-income families and the elderly as FairPrice Group plans to expands its food rescue initiative to 60 distribution points by end-2025. The Neighbourhood Food Share (NFS) programme gives away vegetables and fruits that cannot be sold in supermarkets due to defects in their appearance but are not spoilt. It started in September 2023 with 15 distribution points and now has 51, providing more than two tonnes of fruits and vegetables a month. Since its launch, it has distributed close to 30 tonnes of fresh produce, and serves more than 25,000 beneficiaries a year. Minister-in-charge of Social Services Integration Desmond Lee said on July 23 that initiatives like this NFS are important because resources in Singapore are scarce. These programmes can only run because of the unspoken social compact in Singapore, where everyone is prepared to work together, he said at an event in Boon Lay to announce the expansion of NFS . For NFS, FairPrice Group leverages on its networks and supermarkets to provide good produce, on-the-ground groups work to publicise the events to those in need, and volunteers collect items and set up the distribution points, Mr Lee said. 'We think about ways to work together to benefit society and people, and many of us are prepared to step forward and volunteer,' he added. Other groups in Singapore that work towards reducing food wastage include Food from the Heart and The Food Bank Singapore, both of which collect unsold or excess food to be distributed to the public. FairPrice Group, which turns 52 in 2025, works with the People's Association and on-the-ground groups like social service agencies to connect disadvantaged residents or lower-income families with distribution events. They conduct outreach to ensure these families know when free produce is being given out nearby . In 2023, the National Environment Agency found that Singapore disposed of more than 755,000 tonnes of food waste, with a significant portion ending up in landfills. A portion of this waste is attributed to food nearing its expiry date or being deemed visually unappealing, even if it is still edible, the agency said. Madam Alice Lim, 89, was among more than 200 seniors who collected fresh produce at the July 23 event in Boon Lay. FairPrice Group has a distribution point near her home which gives out fruits and vegetables weekly. M ore than 1,400 families in Boon Lay benefit from the initiative. Madam Lim has lived in Boon Lay for 15 years. After her husband's death in 2020, she found it hard to leave her flat correct and would only walk nearby in the estate. 'I am glad there is something like this near me. I don't like wasting food, so at least these things are going to us and not a dustbin,' she said.
