In order to support Singapore as it tries to steer the economy out of the COVID-19 crisis, seven industry-led partnerships formed to build and implement ideas have established solutions that include launching autonomous road shuttles and developing seamless shopping experiences to help the retail sector.
The seven parties, known as the Singapore Together Alliances for Action, were formed in June under the Emerging Stronger Taskforce, a committee itself announced in April to explore ways to help the Singapore economy recover from the COVID-19 pandemic.
The task force is co-chaired by Desmond Lee, Minister of National Development, and Tan Chong Meng, CEO of the PSA International Group, and includes heads of many major organizations such as DBS, CapitaLand, and the Airport Group of Changi.
"There’s no returning to the old norms that existed prior to COVID," Mr. Lee said during a Thursday (Nov 19) press conference as he gave an update on the movements of the task force.
He outlined what the task force has described as the six aspects in which the virus has reshaped the world: a shifting global order; a rebalancing of supply chain and production quality and resilience; accelerating digital transformation and innovation; changes in consumer preferences; an increased emphasis on environmental and social sustainability, both environmental and social; and accelerating.
Mr. Lee also noted the two main themes underpinning the future economy of Singapore, which the task force has been driven by during its discussions: a Singapore that is linked to the rest of the world and one that is built on sustainability and inclusiveness of the environment.
Therefore the partnerships were charged with exploring key areas of economic growth: sustainability, enabling stable and innovative visitor experiences, promoting smart trade, digitalizing the built environment, digitalizing supply chains, robotics, and educational technology.
The strategies the collaborations have come up with include building more connections between businesses so that shoppers are active both online and offline and launching two autonomous transport shuttles by the end of this year the Ministry of Trade and Industry (MTI) said separately in a press release on Thursday.
This comes in the midst of e-rising commerce's popularity and a greater demand for personalization and participation, as well as the need to tackle the nation's manpower crunch, the ministry said.
A carbon market where carbon credits are traded and a scheme for businesses to calculate, reduce and offset their carbon footprint are other concepts in the works. "By building a carbon hub for Singapore, it can generate economic value, create jobs and further enhance Singapore’s role in commodities trading," Mr. Lee said.
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