The Current Status of Singapore's Digital Economy

Singapore's digital economy has developed earlier and is one of the countries with the highest degree of digitization. It provides world-class infrastructure, talent, and a vibrant ecosystem of partners, and has shown outstanding performance in digital transformation, digital governance, digital industries, digital trade, and financial technology.

Singapore's digital economy is well-developed and well-equipped, making it the preferred base for information and communication technology (ICT) companies. The government collaborates with leading companies to develop cutting-edge technologies and solutions to support Singapore's vision of a smart nation and regional and global market development. Singapore is home to many global technology companies, including Google, Facebook, Alibaba, as well as regional leaders such as Garena, Grab, Lazada, and Razer. Technology companies such as IBM and Huawei collaborate with Singapore's financial services, manufacturing, and service industries to develop and provide new solutions for the region and beyond.

The Singapore government attaches importance to the development of the digital economy and has formulated several strategies and plans to accelerate the digital transformation of the economy, such as the "Smart Country" plan launched in 2014, the "Infocomm Media 2025" plan released in 2015, and the "National AI Strategy" launched in 2020. The Singapore government has been actively building a digital economy action framework in recent years, and a series of policies implemented have provided strong support for the development of the digital economy.

In terms of digital governance, Singapore has established a Risk Assessment and Scanning System (RAHS) to help Singapore capture early signs of an outbreak during the pandemic; The "Virtual Singapore" project has been launched to create a large-scale city data model that gathers all IoT sensors.

In terms of building the digital industry, Singapore has implemented the Industrial Transformation Blueprint Plan. In 2016, Singapore proposed 23 specific industry transformation measures and development goals, and established the Future Economic Agency; In 2018, the "Service and Digital Economy Blueprint" program was launched, with a focus on enhancing Singapore's digital innovation capabilities in the service industry; In the same year, Singapore launched the Start Digital project for small and medium-sized enterprises, which included five types of enterprise basic digital solutions; In 2019, the Digital Industry Development Department was established to promote Singapore's solutions in areas such as cybersecurity, artificial intelligence, and cloud technology.

In terms of digital trade: In 2016, the Singapore government designed and built the Internet Trade Platform (NTP) to drive the digital transformation of the entire industry; In February 2018, Singapore joined the Cross Border Privacy Regulation System (CBPR) led by the Asia Pacific Economic Cooperation (APEC); In March 2018, participated in promoting the ASEAN Australia Digital Trade Framework Initiative.

In terms of financial technology, Singapore actively issues digital banking licenses and promotes the landing of virtual banks, including issuing digital universal banking and digital wholesale banking licenses. In addition, Singapore is vigorously developing blockchain technology, actively issuing digital currency operating licenses, and building a new digital financial center for blockchain technology and digital currency in Asia.

Singapore, with its unique vision and foresight, has propelled the development of its digital economy forward at a steady and fast pace, like a high-speed train. Singapore's forward-looking development of the digital economy and active expansion of multilateral and bilateral digital economic and trade circles are worth learning from for other countries.

（1） The International Competitiveness of Singapore's Digital Economy

1. Singapore's Global Digital Competitiveness Ranking

The International Institute for Management Development (IMD) in Lausanne, Switzerland has released the 2022 Global Digital Competitiveness Ranking, quantifying an economy's ability to adopt and explore digital technologies that can change government behavior, business models, and society as a whole. The 2022 Global Digital Competitiveness Ranking scores and ranks the overall performance of each economy, three important digital competitiveness factors (knowledge, technology, and readiness for the future), and multiple sub elements, and lists the strengths and weaknesses of each economy in digital development based on the scores and rankings (see Tables 1 and 2).

表1 2022年全球数字竞争力前10名得分及排名情况

|Excel下载

Table 1: Scores and Rankings of the Top 10 Global Digital Competitiveness in 2022

表2 2018～2022年新加坡数字竞争力整体排名及三个重要竞争因素排名

|Excel下载

Table 2 Overall ranking of Singapore's digital competitiveness and ranking of three important competitive factors from 2018 to 2022

Singapore ranks fourth in the overall global digital competitiveness ranking in 2022. Although its ranking has slightly declined in the past two years, its overall digital economy competitiveness still leads, and it has been in the top 5 for five consecutive years.

In terms of the three important factors of digital competitiveness, the knowledge factor refers to the intangible infrastructure that enables the discovery, understanding, and learning of new technologies, thereby driving digital transformation. A country's existing human capital quality, education and research investment level, and their achievements (such as registered patent grants in high-tech fields and employment in the technology sector) are all included. Singapore's ranking in terms of knowledge factors has declined in the past two years, dropping from the top three to fifth place in 2022. Despite a slight decline in ranking in terms of knowledge, it maintains a strong advantage and remains in the top 5. In terms of other sub factors, it is relatively strong in the talent sub item, ranking third, and weak in the training and education sub item, ranking ninth.

The overall background of evaluating technological factors to promote the development of digital technology. This includes evaluating the impact of regulation on encouraging private sector innovation, the investment efficiency of capital, and standards for the quality of technological infrastructure. In terms of technology factor ranking, Singapore has maintained its top position. Singapore's efforts in this area are far ahead of other economies. Singapore ranks fourth mainly due to its achievements in technology. In terms of technical sub factors, Singapore has improved by 4 places in the regulatory framework factor, rising from the previous 5th place to 1st place, maintaining 2nd place in the technical logic framework, and achieving 3rd place in the capital sub factor.

The level of readiness for the future measures the adoption of technology by the government, businesses, and society as a whole. This factor includes indicators such as the popularity of e-commerce, industrial robots, and data analysis tools in the private sector, as well as the strength of these cybersecurity measures. In terms of readiness for the future, Singapore ranked 10th in 2022. Although it has improved compared to previous years, it still lags far behind the overall ranking and is a relative weakness in the development of the digital economy. The sub factor of "adaptive attitude" ranks 17th. Singapore remains one of the most developed economies in the world in terms of business agility and IT integration. In terms of regulatory framework factors, the perception of the impact of immigration policies (whether to restrict local companies from recruiting foreign personnel) has improved in 2022.

2. Singapore Network Readiness Index ranking

The Portulans Institute released the "The Network Readiness Index 2022" report on November 15, 2022. Recognizing the universality of digital technology in today's networked world, the Network Readiness Index (NRI) measures the application and impact of Information and Communication Technology (ICT) in the global economy based on four fundamental dimensions: technology, talent, governance, and influence. It evaluates 130 economies worldwide and depicts the readiness of network-based systems (see Table 3), making it one of the leading global indices. The Network Readiness Index (NRI) covers issues ranging from future technologies such as artificial intelligence and the Internet of Things (IoT) to the role of digital transformation in achieving the Sustainable Development Goals (SDGs).

表3 2022年网络就绪指数（NRI）排名前10经济体得分与4项指标排名

|Excel下载

Table 3: Scores of the Top 10 Economies and Rankings of Four Indicators in the 2022 Network Readiness Index (NRI)

The top 10 are all high-income economies that perform well in most pillar dimensions of the Network Readiness Index (NRI). Each of the top 10 countries is ranked in the top 25 in four main pillars (technology, talent, governance, influence). Compared to previous years, there have been significant changes in the composition of the top 10 rankings in the 2022 Network Readiness Index. The United States has risen from fourth place last year to first place in 2022. South Korea has also made a significant leap, rising from 12th place to 9th place. Among the top 10 economies, Singapore has shown the most positive changes, rising 5 places from the previous year and firmly ranking second. In terms of regional distribution, Singapore and South Korea are the only top 10 countries located in the Asia Pacific region, the United States is the only country located in the Americas, and the other top 10 countries are all European countries.

According to the 2022 Network Readiness Index report, the United States, Singapore, and Sweden are the top 3 economies with the highest level of network readiness, performing well in all aspects of network readiness, committed to ensuring that technology is accessible, affordable, and beneficial to overall economic and social development. By taking the lead in implementing regulatory frameworks, adopting new technologies such as artificial intelligence, robotics, the Internet of Things, and top tier mobile network connectivity, as well as investing in educational opportunities, these economies have advantages over other economies. More importantly, they focus on expanding Internet access in schools and improving ICT skills in the education system.

Singapore ranks second in the high-income country group and first in the Asia Pacific region, and its scores on various indicators are much higher than the average scores of these two groups, with Singapore's biggest advantage being its influence. Among all the indicators assessed, those that Singapore has performed particularly well include the price of mobile phones, the population covering at least 3G mobile networks, and the Internet access of schools. In contrast, the weakest indicators include the protection of privacy in legal content, sustainable development goals, and women's economic opportunities.

Overall, Singapore's digital economy is steadily developing and its digital competitiveness is leading globally. It is the digital capital of Asia and a leader in global digital economy development, with great regional and international influence.

（2） The Development of Singapore's ICT Industry

Digital knowledge and information are key production factors in the digital economy, and ICT technology is crucial for the digital transformation of the economy. The ICT industry is the backbone of the digital economy. The growing demand for Internet services continues to drive the development of Singapore's ICT industry. At present, Singapore has successfully deployed fixed network optical fiber networks and 4G mobile networks. With the saturation of the 4G and fixed broadband markets and the continuous decline in the number of pay TV and fixed line service users, 5G will be the next major development project actively promoted by Singapore's ICT industry. The growing application of Internet services has been and will continue to be the main driving force for the development of Singapore's ICT industry.

In 2021 and the first and second quarters of 2022, the ICT industry is one of the most dynamic industries in Singapore's economy in terms of added value, with growth rates exceeding Singapore's gross domestic product (see Table 4). From the supply side, telecom providers have successfully deployed optical fiber networks and 4G mobile networks, making full use of the growing demand for Internet services and obtaining considerable revenue.

表4 新加坡GDP和ICT行业增加值增长率及ICT行业对GDP增长的贡献

|Excel下载

Table 4 Singapore's GDP and ICT industry value-added growth rate, as well as the contribution of the ICT industry to GDP growth

With the post pandemic economic recovery, the service exports of Singapore's ICT industry are also increasing. In 2019, Singapore's ICT industry accounted for 6.2% of exports, and in 2021, it accounted for 8.1% of exports. Singapore's service exports are expected to continue to grow in 2022, and further relaxation of border restrictions may lead to an increase in tourism service exports and other transportation service exports, which are still below pre pandemic levels. In addition, exports of services such as finance, telecommunications, computer and information services, and other commercial services may continue to expand with the demand for economic recovery in major economies around the world. In the long run, Singapore's ICT service exports face many new opportunities, especially as the economic growth and rise of the middle class in economies such as China and ASEAN will lead to an increase in service demand. At the same time, Singapore must continue to strengthen its capabilities as a commercial and logistics hub to maintain its advantageous position and meet the region's demand for services such as financial services, freight services, and other commercial services. With its vibrant service and manufacturing industries, Singapore's economy is expected to achieve sustained growth in the coming years.

According to the "White Paper on Global Digital Economy Development (2022)" released by the China Academy of Information and Communications Technology, the global digital economy reached $326053 billion in 2021, with Singapore's digital economy reaching $172.9 billion, ranking 17th in the world.

The Development Trends of Singapore's Digital Economy

Singapore attaches great importance to the development of the digital economy. In recent years, it has expanded the development pattern of the digital economy by continuously strengthening digital economic cooperation and enhancing network security, and provided a safe and reliable environment for the development of the digital economy.

（1） Strengthen cooperation in the digital economy and expand the "circle of friends" of the digital economy

The digital economy is rapidly developing globally, and countries actively participate in building new bilateral or multilateral agreements suitable for the development of the digital economy, which is conducive to maintaining economic globalization and trade liberalization, promoting the establishment of a fair, transparent, open, and inclusive new economic order, and injecting new impetus into their own economic development and foreign economic and trade cooperation. In recent years, Singapore has actively promoted the development of the digital economy, attached great importance to the signing of digital economy agreements, fully seized the new opportunities brought by the digital revolution and digital technology development, and continuously made new progress in strengthening connectivity with partners.

The Digital Economy Agreement (DEA) is a treaty that establishes rules for digital trade and digital economic cooperation between two or more economies. Through digital economy agreements signed with major partners, Singapore aims to develop an international framework to enhance interoperability of standards and systems, and support local Singaporean enterprises, especially small and medium-sized enterprises, in participating in digital trade and e-commerce. The digital economy agreement is built upon Singapore's extensive network of free trade agreements and other digital cooperation initiatives. It also supplements Singapore's leadership role as a co convener of the Joint Statement Initiative on Electronic Commerce (JSI) in the World Trade Organization (WTO), along with Australia and Japan.

Currently, Singapore has completed negotiations on four digital economy agreements. In June 2020, Singapore signed its first digital economy partnership agreement with New Zealand and Chile, which came into effect in January and November 2021, respectively; On December 8, 2020, the Singapore Australia Digital Economy Agreement (SADEA) came into effect; In December 2021, Singapore and South Korea completed negotiations for a Digital Partnership Agreement (KSDPA); On June 14, 2022, the UK Singapore Digital Economy Agreement (UKSDEA) came into effect. In addition, Singapore is also discussing strengthening cooperation in the digital economy with the European Union, India, Canada, and other countries.

According to a statement released by Singapore's Ministry of Trade and Industry, the Digital Economy Agreement will set a global benchmark for high standard digital trade rules and benefit businesses and people in both countries, particularly helping small and medium-sized enterprises better seize opportunities in the digital markets of both countries. According to the agreement, Singapore and the UK will promote the development of transparent and convenient rules to support secure and reliable cross-border electronic payments, such as encouraging open application programming interfaces (APIs), adopting internationally recognized standards, and facilitating interoperability between electronic payment systems. The agreement will seek to promote cross-border digitization of bilateral supply chains, with a focus on enhancing interoperability of electronic documents such as bills of lading and invoices, enabling faster and more convenient transactions, and reducing business costs. The agreement also includes the development of submarine cables, opening up government information, enabling seamless and trustworthy digital circulation systems, improving the trustworthiness of digital systems, and increasing participation in the development of the digital economy.

In addition to the digital economy agreements that have already been signed, Singapore actively engages in digital economy cooperation with other countries through other means.

On June 13, 2022, representatives from Singapore and China signed the Memorandum of Understanding on Strengthening Digital Economy Cooperation and the Memorandum of Understanding on Promoting Green Development Cooperation during the 12th Ministerial Conference of the World Trade Organization in Geneva. In the field of digital economy, the two countries will work together to explore common growth opportunities, strengthen cooperation in investment and digital trade, promote digital services, build a trustworthy and secure digital environment, and provide new impetus for the two countries to explore new areas of cooperation in the digital economy.

On September 7, 2022, witnessed by Philippine President Marcos and Singaporean Prime Minister Lee Hsien Loong, Singapore's Minister of Communications and Information, Yang Liming, and Philippine Minister of Information and Communications Technology, Huang Yanguang, signed a memorandum of understanding on digital cooperation. They are committed to exchanging knowledge, expertise, and best practices in areas such as digital connectivity, data, and network security, and sharing intelligence and mutual assistance in response to fraudulent phone calls and SMS services. They hope to strengthen cooperation between the two countries in the digital field and, where possible, promote cooperation in emerging technologies.

Singapore hopes to reach further agreements with other like-minded economies in the future. Singapore strengthens its position in the digital economy, actively builds bilateral or multilateral digital economic frameworks with other countries, and signs digital economic agreements, mainly for the following reasons.

Firstly, the government has formulated a medium - to long-term development strategy to build a "digital center" and aims to become a digital economy powerhouse. Internally, we are committed to expanding the popularization and application of digital technology in various fields, accelerating the digital transformation and upgrading of enterprises, and enhancing the innovation capabilities of enterprises and society in utilizing digital technology; Externally, we attach great importance to strengthening the interconnectivity of digital products and services in the global flow, building platforms for enterprises to "go global" and creating new rules for cooperation.

Secondly, the government recognizes that the digital economy has become a major new driving force for global economic development and a new engine for promoting economic recovery in various countries and the world. The COVID-19 has highlighted the resilience and importance of the digital economy. With the increasing importance of the digital economy, the formulation of rules and cooperation frameworks in the digital field has become an important part of many bilateral or multilateral economic and trade negotiations, and it is necessary to seize new opportunities for rule making and have a say in trade cooperation.

Thirdly, strengthening bilateral or multilateral cooperation in the field of digital economy is conducive to maintaining economic globalization and trade liberalization. For a long time, Singapore has been a participant, promoter, and major beneficiary of economic globalization and trade liberalization. Against the backdrop of the rising trend of anti globalization and increasing trade protectionism, it is necessary to promote extensive free trade and strengthen connectivity to create more development opportunities in the field of digital economy.

Fourthly, with the rapid development of the digital economy, its contribution to the annual gross domestic product is increasing. According to a survey conducted by research firm IDC commissioned by Microsoft in 2020, approximately 60% of Singapore's GDP came from digital products or services in 2021, compared to only 10% in 2017. According to the 2021 Southeast Asia Digital Economy Report jointly released by Google, Temasek, and Bain, it is expected that the scale of Southeast Asia's digital economy will grow from $149 billion in 2021 to $294 billion in 2025, with a compound annual growth rate of 31%.

Fifthly, the competition in the digital economy is becoming increasingly fierce. Actively establishing bilateral or multilateral agreements on the digital economy is conducive to promoting the coordination of digital trade rules, eliminating trade barriers and barriers, unleashing the potential of digital trade in economic growth, reducing trade costs, establishing dispute resolution mechanisms, and achieving mutual benefit and win-win results. The digital economy agreement helps encourage partner countries to collaborate in emerging fields such as digital identity, artificial intelligence, and data innovation.

（2） Strengthen network security and create a more secure network environment

Due to the changes in the field of digital technology (such as the increased use of cloud services) and the impact of the global pandemic, the interconnectedness between economies is increasingly strengthened. At the same time, these trends shift more part of business and personal interaction to the Internet, from digital payment to remote work, from social media to e-commerce and streaming media services, which greatly increases the risks associated with digital crimes such as fraud, commercial and personal data theft.

The 2022 Global Risks Report released by the World Economic Forum shows that increasing digital dependence will exacerbate cyber threats, and cybersecurity threats are rapidly growing. In 2020, malware and ransomware attacks increased by 358% and 435% respectively, surpassing the ability of society to effectively prevent or respond to them. The lowering of entry barriers for participants in cyber threats, more aggressive attack methods, lack of cybersecurity professionals, and patchwork governance mechanisms are all exacerbating risks. According to the "Singapore Cybersecurity Overview 2020", the number of ransomware attacks in Singapore's manufacturing, retail, and healthcare sectors increased by 154% in 2020 compared to 2019, with a total of 47000 phishing malicious links detected, affecting government agencies and the private sector; The number of cybercrime cases has sharply increased, with a total of 16117 cases, accounting for 43% of the total crime. Among them, there were 12251 cases of online fraud in 2020, a year-on-year increase of 61.6%, and 245 cases of online extortion, a year-on-year increase of 260.3%; Both C&C attacks and the number of botnets have increased to varying degrees. In 2020, a total of 1026 servers deployed within the country were discovered that could be used to launch C&C attacks, an increase of 93.6% compared to the same period last year. A daily average of 6600 botnets were discovered, an increase of 187% year-on-year. In addition, the solar wind event that erupted in the United States has affected Singapore, sounding an alarm for Singapore to strengthen its network supply chain security.

As a global financial and transportation hub, Singapore benefits from digital development, highlighting the need to strengthen its cybersecurity capabilities. Cybersecurity will become a cutting-edge focus for Singapore to continuously strengthen its research and attention in the future. Singapore is making efforts from multiple aspects to continuously enhance network management and maintain national cybersecurity.

1. Develop a cybersecurity strategy and relevant laws

Singapore released the Cybersecurity Strategy 2021 (hereinafter referred to as the "Strategy") in October 2021. The Strategy establishes the main actions that the Singapore government intends to take in the field of cybersecurity over the next five years, establishing three strategic pillars in the cybersecurity domain - building resilient infrastructure, creating a secure cyberspace, strengthening international cybersecurity cooperation, and two fundamental supports - constructing a vibrant cybersecurity ecosystem and developing a strong cybersecurity talent training channel.

Compared with the strategy in 2016, the Cybersecurity Strategy 2021 presents a series of adjustments and new trends, mainly including adopting a more proactive approach to strengthen infrastructure protection, providing easy-to-use solutions to enhance network security levels, and promoting the exploration of international cyberspace norms and standards. In addition, the new strategy will also promote the local manufacturing of more cybersecurity solutions in Singapore and increase investment in security talent.

The introduction of the new strategy is not only a necessity for Singapore's domestic economic and social development, but also based on considerations of the global competitive landscape in cyberspace. In the preface of "Strategy", Singapore Prime Minister Lee Hsien Loong pointed out that "compared to four years ago, the world is completely different". The Strategy lists four major changes that Singapore faces in cyberspace: disruptive technologies changing the mode of cybersecurity, increasing risks in cyber physical space, ubiquitous digital connectivity, and escalating geopolitical tensions in cyberspace.

The increasingly fierce competition and game in international cyberspace strategy is the international background of Singapore's cybersecurity strategy. The position of cyberspace in the strategic competition and game among major powers has been significantly elevated, becoming a new stage for major powers to engage in geopolitical games. Specifically, on a global scale, there is a clear trend towards politicization and militarization of cybersecurity issues, with an increase in the number of state supported APT attacks, involvement of cyber attack activities in election agendas, and some countries vigorously strengthening the militarization of their national cyber capabilities.

Compared to the first cybersecurity strategy released in 2016, the cybersecurity environment in which the 2021 strategy was introduced has undergone significant changes, mainly reflected in the following four aspects: firstly, the potential destructive power of new technologies is becoming increasingly apparent; Secondly, the risk of physical damage to network infrastructure has increased; Thirdly, the exponential growth of network equipment has led to an increase in system vulnerability risks; The fourth issue is the increasing geopolitical tension in cyberspace.

Specifically, the potential risks brought about by the development of new technologies, such as 5G, cloud, Internet of Things (IoT), artificial intelligence (AI), and edge computing, have not been effectively controlled. There are weak links in the protection of network infrastructure, such as optical fibers, cables, and computer rooms. The explosive growth of the number of personal terminals connected to the network highlights the cask effect in network security protection. The trend of politicization of network security issues is becoming increasingly obvious. The issue of network sovereignty is debated endlessly. Geopolitical tensions in cyberspace may divide the technological world and increase digital security risks.

Compared to the 2016 strategy, the 2021 strategy has taken a more proactive stance to address threats, expanded the scope of cybersecurity protection, and sought to establish deeper partnerships with industries and other organizations, placing greater emphasis on the development of human resources and the cybersecurity ecosystem to adapt to changes in the environment under new circumstances.

In addition, according to the Lianhe Zaobao, Yang Liming, the Minister of Communications and Information and the Second Minister of the Ministry of the Interior of Singapore, said on June 20 that network security has gradually attracted attention, and Singapore plans to launch Internet behavior security guidelines and social media content regulatory guidelines to combat bad content and outlaws. Specific measures include installing filters to restrict teenagers from accessing harmful content through social media and ensuring that users can easily report harmful content. In addition, practitioners who provide social media services must comply with the Internet behavior security guidelines to create a more secure cyberspace for users. If Internet content threatens Singapore's public security and health, racial and religious harmony, or involves terrorism and sexual harm, the Singapore Information and Communication Media Development Authority will have the right to instruct social media platforms to prohibit users in Singapore from viewing such content.

The Singapore government has launched an industry consultation on the guidelines in June 2022, and will also solicit opinions from relevant groups such as parents, teenagers, and educators through public consultation in July. Once revised into a law, it will have legal binding force.

2. Establish multiple specialized departments to strengthen network security management

On April 1, 2015, Singapore officially established the Cybersecurity Agency (CSA) with the aim of addressing the increasingly serious global cybersecurity issues. The Singapore government established this new department to focus on researching national cybersecurity strategies.

In 2017, Singapore established the Defense Network Agency, which is responsible for coordinating the secure operation of the defense community network, formulating cyber defense policies and strategies, commanding the construction of cyber defense capabilities, and supporting the Singapore Cybersecurity Agency when necessary to maintain Singapore's cyber security.

At the end of October 2022, Singapore established the Defense Digital Defense and Intelligence Force (DIS), joining the ranks of Asian countries protecting digital borders. This unit has become the fourth branch of the Singapore Armed Forces, alongside traditional naval, land, and air forces, responsible for providing timely intelligence and protecting Singapore from cyber threats, taking action to protect electronic networks, and serving as an early warning system. Michael Laska, coordinator of the Military Transformation Project at the Rajaratnam International Institute in Singapore, believes that "building defense capabilities to meet the increasingly complex demands of modern warfare requires not only upgrading military technology and hardware, but also organizational flexibility. In a world where electronic warfare is no longer "abstract and elusive" but "concrete and real", the establishment of DIS marks Singapore's recognition of the importance of cyber defense. Paul Smith, a professor at the United States Naval War College, said, "Modern warfare will inevitably be characterized by conflicts in this field

3. Strengthen regional and international cybersecurity cooperation

The virtuality of cyberspace makes the development of multilateral international cooperation necessary. Through the implementation of the 2016 strategy, Singapore has strengthened its cooperation with ASEAN partner countries to improve the collective cybersecurity environment in the region and established strong bilateral cybersecurity partnerships with other international partners. After 5 years of development, the awareness of the importance of cybersecurity to national development among countries has continuously increased. Brazil, Australia, the European Union, South Korea, and others have all introduced corresponding national strategies for cybersecurity. Cybersecurity issues have gained appeal in global dialogue, and it is now feasible to conduct higher-level and larger scale cybersecurity policy dialogues on a global scale. Therefore, Singapore has mentioned in the new version of its strategy that it will further enhance its participation in international cybersecurity policy discussions.

Singapore will continue to contribute to existing ASEAN cooperation channels by organizing ASEAN cybersecurity and cybercrime workshops, seminars, and conferences to promote international and regional cooperation in these areas; Support the ASEAN Regional Forum (ARF) and the ASEAN Cybersecurity Action Committee (ANSAC) to play an active role in promoting confidence building and capacity building measures in cyberspace; Supplement ASEAN's existing initiatives through the ASEAN Network Capability Program. In October 2021, the ASEAN Singapore Cyber Security Centre of Excellence (ASCCE) was established to collaborate on research, knowledge sharing, and training.

In addition to regional cooperation, Singapore continues to explore and deepen international cooperation. From 2021 to 2026, Singapore will serve as the Chair of the United Nations Open ended Working Group on the Development of Information and Telecommunications in the Context of International Security. Singapore stated that it will promote discussions on international cyber norms during this period and support global efforts to enhance the ability of countries to protect themselves from cyber threats.

In addition, while strengthening multilateral cooperation, Singapore continues to deepen its cooperation with the United States in cyberspace. In August 2021, Singapore signed three memorandums of understanding with the United States to expand cooperation in the fields of defense, finance, and cybersecurity. Among them, the agreement between the Cybersecurity Agency of Singapore (CSA) and the Cybersecurity and Infrastructure Security Agency (CISA) of the United States aims to deepen cybersecurity cooperation beyond data sharing and exchange, and seek new areas of cooperation in key technologies and research and development. The Memorandum of Understanding between the Singapore Ministry of Defense and the US Ministry of Defense is committed to cooperation in various cyberspace areas, including data sharing and capacity building.

4. Emphasize technological innovation and utilize technological means to achieve efficient and high-quality network management

In February 2022, Singapore's Quantum Engineering Program (QEP) began testing quantum secure communication technologies nationwide, which will provide strong cybersecurity support for critical infrastructure and companies handling sensitive data. The project is funded by the National Research Foundation (NRF) of Singapore and was initiated with the participation of 15 private or government collaborators. This three-year project will collaborate with public and private partners to test commercial technologies, conduct in-depth assessments of security systems, and develop guidelines to support enterprises in adopting quantum security technologies.

Cybersecurity is the cornerstone of today's digital society. Due to the fact that quantum computers may be millions of times more powerful than traditional computers in processing certain tasks, the public key encryption that protects billions of bits of data is highly vulnerable to attacks from quantum computers in the future. Although quantum computers today are not yet capable of cracking encryption, with technological advancements, addressing network security threats has become more urgent. Quantum secure communication technology aims to combat quantum computing threats through specialized hardware and new cryptographic algorithms. They can provide security for critical infrastructure such as government communication systems, energy grids, and companies that handle sensitive data in fields such as healthcare and finance.

Singapore's new National Quantum Security Network (NQSN) will also deploy commercial technologies, conduct experiments with government agencies and private companies, conduct in-depth assessments of security systems, and develop guidelines to support businesses in adopting these technologies. The new national quantum security network aims to utilize advanced quantum technology and solutions to enhance the cybersecurity of critical infrastructure, while providing a robust platform for public-private partnerships, "said the Director of the Smart Nation and Digital Economy Department." This marks the superiority of technology transformation and is also one of the key initiatives of the RIE2025 plan, which will drive Singapore's continuous transformation into a reliable digital innovation center