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Singapore and Hong Kong Pioneering Economic Hubs

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Shared ideals and goals are the foundation of Singapore and Hong Kong’s close and enduring friendship. Despite limited resources, both cities have encouraged their creative and entrepreneurial sides, developing themselves as thriving economic hubs with excellent global connectivity and an abundance of highly qualified people.

One asset that Singapore and Hong Kong share, according to Deputy Prime Minister and Coordinating Minister for Economic Policies Heng Swee Keat, is their strategic locations—both within their own neighbourhoods and within a bustling Asian region.

By 2030, the ASEAN region aims to be the fourth-largest economy in the world. Hence, Asia has promising growth possibilities. It is anticipated to account for almost 70% of worldwide growth this year.

There is untapped potential. Youth make up 34%, or more than one-third, of the 654 million people in ASEAN today. The potential for growth in several fields, including technology, sustainability, and the digital economy, is great.

The Deputy Prime Minister is pleased with how Singapore and Hong Kong’s financial cooperation has grown over the years. Financial regulatory bodies in Singapore and Hong Kong collaborate closely in areas including information sharing, financial regulation and oversight, and developing FinTech sectors.

Singapore and Hong Kong ought to continue to serve the region well and stay on top of emerging trends as worldwide financial centres anchored in Asia. The partnerships have increased the stability and openness of the regional financial sector, which will in turn draw funding to important development sectors in Asia including the green and digital economy.

Deputy Prime Minister Heng stated that the digital economy has the power to transform society and improve people’s lives in a variety of ways. But it’s crucial to be aware of and prepare for any potential difficulties presented by the digital economy.

“As we continue to promote and uphold confidence in a rules-based global multilateral trading system, we should also build a strong foundation among ourselves to catalyse cooperation, particularly in new growth sectors like digital trade and intellectual property protection and enforcement,” he added.

The importance of digital trade is likely to continue to grow in the years to come as digital technologies are making it easier, cheaper, and more efficient for businesses to trade across borders. As a result, digital trade is expected to play an increasingly important role in the global economy. It is firmly believed that technical advancements and innovation in cutting-edge fields like sustainability and digitalisation will be the source of the next spurt in global economic growth.

To launch and scale solutions to some of the most urgent global concerns, including climate change, food and water security, and the demands of an ageing population, Singapore sees itself as a Global-Asia hub of technology, innovation, and entrepreneurship. Collaboration and making the most of these new growth prospects are encouraged by Deputy Prime Minister Heng as partnerships are essential to accelerating such effective solutions.

He also mentioned the signing of 7 new Memoranda of Understanding (MoU) by organisations in Singapore and Hong Kong. These agreements span topics including business promotion, Fintech, innovation and entrepreneurship, decarbonisation, and research and development.

“As they seek to strengthen their partnership for success in the years to come, Singapore looks forward to further strengthening and extending their collaborations with Hong Kong in these and other fascinating new sectors,” Deputy Prime Minister Heng said.

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Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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As a Titanium Black Partner of Dell Technologies, CTC Global Singapore boasts unparalleled access to resources.

Established in 1972, we bring 52 years of experience to the table, solidifying our position as a leading IT solutions provider in Singapore. With over 300 qualified IT professionals, we are dedicated to delivering integrated solutions that empower your organization in key areas such as Automation & AI, Cyber Security, App Modernization & Data Analytics, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Renowned for our consulting expertise and delivering expert IT solutions, CTC Global Singapore has become the preferred IT outsourcing partner for businesses across Singapore.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

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SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

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IBM is a leading global hybrid cloud and AI, and consulting services provider, helping clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,800 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently, and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity, and service. For more information, visit www.ibm.com