Latest news with #LawrenceWong
South China Morning Post
2 days ago
- Business
- South China Morning Post
In China, ‘bridge-builder' Singapore champions a multilateral world
A marquee visit by Singapore Prime Minister Lawrence Wong to China this week has underscored a push by Southeast Asian countries for multilateralism amid uncertainty over America's commitment to the region and free trade. Observers say Wong's comments during his five-day trip, particularly at the World Economic Forum in Tianjin, or so-called Summer Davos, are aligned with the regional agenda of Asean members in recent years. But even as Chinese President Xi Jinping called for his country and Singapore to 'stand on the right side of history' and advocate for an equal multipolar world, analysts say it remains to be seen if Beijing will put its money where its mouth is. Wong's China visit marked his first such trip outside Southeast Asia since being sworn in as prime minister in May 2024. It also comes after the decisive win of his ruling party at the general election last month. At their meeting on Tuesday, Xi in his comments to Wong echoed his message to other Asean leaders earlier this year to stand up against 'unilateral bullying' and 'tariff abuse' in reference to US President Donald Trump 's trade policies. 'Hearing that straight from the senior-most leadership in China is somewhat reassuring, but of course the proof is in the pudding,' said Chin-Hao Huang, associate professor of political science at the Lee Kuan Yew School of Public Policy at the National University of Singapore.
Business Times
2 days ago
- Business
- Business Times
Amazon Web Services and Digital Industry Singapore launch programme to spur AI transformation
[SINGAPORE] Amazon Web Services (AWS) and government agency Digital Industry Singapore (DISG) on Thursday (Jun 26) launched a programme to accelerate artificial intelligence (AI) transformation among enterprises over the next year. The initiative, called AI Springboard, will provide some 300 Singapore-based companies with up to S$600,000 in Amazon cloud credits and training support. AWS is the cloud computing unit of Amazon, and DISG is a joint office between the Economic Development Board, Enterprise Singapore and the Infocomm Media Development Authority. Participating companies will receive a maximum baseline of S$350,000 in cloud credits and training support. They will also work with AWS' consultancy partners – such as AI firm AiRTS and digital transformation solutions provider Temus – to develop AI solutions. Once there is a proof of concept or minimum viable product, up to S$100,000 of the dedicated credits will be disbursed. More support worth up to S$250,000 will be released when these ideas are then scaled to production. Companies can also tap additional support, including another S$250,000 in credits to help them offset the costs of moving workloads to the cloud, as well as technical and financial aid. These extra resources will be awarded on a case-by-case basis. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The Singapore government will cover 70 per cent of consultancy costs, capped at S$105,000 for each enterprise. The programme is open to Singapore-registered companies across all sectors, subject to the Enterprise Compute Initiative's (ECI) eligibility criteria, such as 'experience in building a custom AI solution for a proof of concept', AWS said in a press release. Announced by Prime Minister Lawrence Wong in Budget 2025, the ECI helps companies access AI tools and computing power. AI Springboard is the second ECI programme. The first, AI Cloud Takeoff, was launched on Jun 13 by Google Cloud and DISG, and grants participating companies up to S$500,000 in financial incentives. Tacking sectoral challenges AWS also announced the launch of its innovation hub on Thursday. Set within the company's Asia-Pacific headquarters in IOI Central Boulevard Towers, the 8,000-square-foot facility features more than 30 use cases for cloud technology, including in industries such as manufacturing and agriculture. Through the hub, AWS said it aims to engage over a thousand C-suite leaders and business decision-makers each year. It will also provide tertiary education students with exclusive learning experiences. The 'multimillion-dollar' facility follows AWS' commitment to invest US$9 billion into Singapore's cloud infrastructure by 2028. AI Springboard participants will also gain access to the innovation hub. Speaking at the launch, Senior Minister of State for Trade and Industry Low Yen Ling said that AWS' new initiatives will enable Singapore businesses to harness AI to become more competitive, enhance their products and services, as well as create better jobs. Besides 'featuring success stories from Singapore', the new innovation hub will develop solutions that 'address sectoral challenges faced by our businesses and unlock new opportunities for growth', she added.
CNA
3 days ago
- Business
- CNA
World Economic Forum: Countries need to work together to bring down barriers, says Lawrence Wong
Prime Minister Lawrence Wong says countries need to work together to bring down barriers to strengthen multilateralism, amid growing uncertainties worldwide. He says that is how small countries like Singapore can make a difference and lay the groundwork for a more stable global order to come. Mr Wong was speaking with the World Economic Forum president in Tianjin.
Straits Times
3 days ago
- Business
- Straits Times
Blocking strategic rivals from tech, resources may not work, says PM Wong on US-China ties
Prime Minister Lawrence Wong speaking to the Singapore media at the China World Summit Wing Hotel in Beijing on June 25. ST PHOTO: KELVIN CHNG Blocking strategic rivals from tech, resources may not work, says PM Wong on US-China ties BEIJING – There are limits to cutting strategic rivals off from access to critical technologies and materials, as such leverage does not last, said Singapore Prime Minister Lawrence Wong. Speaking to the Singapore media on June 25 as he wrapped up a five-day official visit to China, he pointed out how, sometimes, the more a country tries to leverage on the elements for which other countries rely on it, the more it incentivises the other parties to find alternative solutions and sources. 'There will always be alternatives – be it high-end semiconductor chips or rare earth materials,' he said. In its bid to prevail in a strategic rivalry with China, the United States has restricted exports of advanced chips and chip technology to China. In return, China has restricted exports of rare earth and critical minerals to the US, which are vital for the manufacturing of cars and military equipment. Both parties have cited security considerations as their rationale. PM Wong expressed confidence that China can find its way to get around the restrictions placed on it. 'China will double its efforts as it is already doing to develop its own indigenous technology, strengthen its R&D base, and emerge more resilient from this process. We see that happening,' he said. After Chinese and American negotiators met in London in June, China has loosened its restriction of rare earth exports to the US in some ways, while still banning them for military use. 'I think it's good that China and America had good conversations recently,' PM Wong said, noting that this helped to lower the temperature around the trade dispute. 'We hope that there will continue to be dialogue, constructive engagements, and both sides can find a way forward,' he said. Dialogue and constructive engagement is what Singapore wants to have with China as well. During this visit, his first as prime minister, Mr Wong had met China's top three leaders to build trust and rapport with them. When asked for an assessment of how the meetings with President Xi Jinping, Premier Li Qiang as well as National People's Congress Chairman Zhao Leji went, Mr Wong said: 'They were very good!' 'We were able to discuss not only our bilateral issues and bilateral areas of cooperation, which is to be expected, but also wider regional and global developments and exchange views on these matters quite candidly and openly,' he said. He hopes to continue these conversations with Mr Li and Mr Xi. 'I've also invited them to visit Singapore at some point of their convenience,' Mr Wong added. Earlier on June 25, Mr Wong spoke at a World Economic Forum (WEF) event, during which he called for like-minded countries to cooperate on specific issues, while leaving the door open for others to join in future even as the multilateral system is showing signs of erosion. Yew Lun Tian is a senior foreign correspondent who covers China for The Straits Times. Join ST's WhatsApp Channel and get the latest news and must-reads.
Business Times
3 days ago
- Business
- Business Times
China will be able to navigate around restrictions imposed by others, emerge more resilient: PM Wong
[BEIJING] Whatever restrictions it may face from other countries, China is likely to find a way around them by developing its own capabilities, Prime Minister Lawrence Wong said on Wednesday (Jun 25). China's response to increasing geopolitical contestation was among the topics that PM Wong tackled in a wrap-up interview with Singapore media, towards the end of his introductory visit to China. He noted increasing attempts by countries 'to weaponise economic interdependencies and identify potential choke points as leverage, all in the name of security and resilience'. But the more a country does this, the more others are incentivised to find alternative solutions and sources, he added. 'Be it high-end semiconductor chips or rare earth materials, there will always be alternatives. So what may appear to be leverage today may very well disappear, or the leverage will be minimised down the road.' This is already playing out today, he said. 'Whatever the restrictions or controls (that) may be imposed on China, I'm quite sure China will find a way, navigate its way around them.' BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up He added: 'China will redouble its efforts, as it's already doing, to develop its own indigenous technology, strengthen its R&D (research and development) base – which is happening – and emerge more resilient from this process.' On China's economic prospects more broadly, he noted that its property market has become more stable and the economy continues to do well, with efforts to boost consumption. A large share of the workforce is also still in the rural and agricultural sector, he noted. This means there are 'tremendous opportunities' for urbanisation and modernisation, to uplift hundreds of millions of Chinese. Bringing temperatures down While US-China relations are 'in a state of flux' and no one knows what will happen next, it is good that talks have 'helped to bring down the temperature', said PM Wong. He hoped for continued constructive engagements that allow both sides to find a way forward. Singapore and Asean member states have also been engaging the US, he noted. His hope is that the eventual reciprocal tariffs imposed by the US on Asean countries will be lowered 'closer to 10 per cent, if not 10 per cent'. Even so, such a rate would still be three times higher than in the past, he cautioned. 'So we have to be realistic. We are going to be in a world where barriers are higher, and we will have to find ways to navigate around this new environment.' As for other geopolitical tensions, including in the Middle East, PM Wong said that Singapore wants to have good relations – which goes beyond 'being friendly, saying polite words, handshakes and hugs'. While good rapport is important, having good relations means building on substance, he said. 'Singapore must have relevance, and we must be able to offer something on the table to our partners.' One way to stay relevant is by being an effective interlocutor, he said. Singapore has a reputation as 'a trusted, reliable, principled partner' and 'honest broker', trusted to facilitate conversations even among those who disagree. This is even more important in a world of growing tensions and greater separation, he added. Strengthening bilateral ties Since arriving in China on Jun 22, PM Wong has met Chinese Premier Li Qiang and President Xi Jinping in Beijing, and attended the World Economic Forum's Summer Davos 2025 in Tianjin. In his wrap-up interview, the prime minister reiterated that his visit builds on strong foundations laid by his predecessors. Long-running joint projects, such as the Suzhou Industrial Park and Tianjin Eco-city, remain platforms for cooperation – and are entering new areas such as digital technologies, renewable energy and even modern services, he said. Beyond two-way collaboration, a new area with 'some potential' is for Singapore and China to cooperate in a third country, said PM Wong, noting that this is the goal of the Third Country Training Programme announced on Monday. The programme is for government officials from Asean member states and Timor Leste, which is slated to join the bloc. It aims to improve regional capacity to tackle long-term challenges in sustainability and resilience. PM Wong said that he had good conversations with the Chinese leaders, 'quite candidly and openly' discussing not just bilateral issues but also regional and global developments. He hoped to continue these valuable conversations and has invited Li and Xi to visit Singapore at their convenience. On Wednesday night, the prime minister also met Singaporeans living in China, ahead of the end of his official trip on Thursday.
