October 27, 2021

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Opportunities for Singapore in Zhejiang in sustainable cities & communities of the future

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Sustainable cities and communities of the future were discussed at the 14th Singapore-Zhejiang Economic and Trade Council (SZETC) meeting in Hangzhou, Zhejiang province today, co-chaired by Senior Minister of State for Communication and Information, & Culture, Community and Youth Ms Sim Ann, and Zhejiang Vice Governor Zhu Congjiu.

Singapore companies will see more opportunities in key sectors including urban development, logistics and e-commerce in Zhejiang, as the province moves towards a future of urban sustainability, innovation, and modern living.

Singapore’s strengths in city infrastructure and connectivity as well as experience in community development can contribute to the common goal of Singapore and Zhejiang to develop innovative and sustainable solutions for the next generation of urban clusters.

According to Enterprise Singapore, The Singapore-Zhejiang Economic and Trade Council has seen good progress in collaborations under its five Working Groups: Oil Trade and Maritime Services; Technology and Innovation; Youth and Cultural Exchange; Financial Connectivity, Legal and Professional Services; and Sustainable Urban Development. At the meeting, Singapore companies signed 15 Memoranda of Understanding (MOUs) in line with these areas.

Key highlights include:

Urban development: Collaboration between a Singapore consortium (represented by GSH Properties (PRC) Pte Ltd and KOP Properties Pte Ltd) and the Jiaxing Municipal Government to develop an integrated township project, incorporating Singapore’s experience in urban planning to feature an integrated community living hub with innovative commercial and retail for MICE and tourism-related activities.

E-Commerce: MOU between Shopee and the Hangzhou Cross-Border E-Commerce Comprehensive Pilot Area Committee to develop a cross-border e-commerce ecosystem through establishing an information and knowledge sharing channel, co-constructing a one-stop solution includes logistics, incubation, custom clearance, etc. for Zhejiang sellers to access Shopee’s e-commerce platform, provision of ecommerce training programmes and co-building a cross-border e-commerce industry belt in Hangzhou. Shopee also officially opened its Hangzhou Operation Centre in the Pilot Area this morning.

Youth and cultural exchange: Agreements between National University of Singapore (NUS) and Zhejiang University to collaborate on joint educational framework in Biomedical Engineering and more; MOU between National Youth Council and Zhejiang Youth Federation to organise exchange programmes such as immersion trips.

Ms Sim Ann said, “We see great synergy for Singapore and Zhejiang to partner each other as both strive towards a sustainable urban future and quality living for our people. Singapore companies can ride on developments such as the Zhejiang Greater Bay Area Development, Zhejiang Pilot Free Trade Zone, and Hangzhou Cross-border E-commerce Pilot Zone to pilot their solutions in Zhejiang. Zhejiang enterprises can also tap on Singapore’s strengths as an international trade and financial hub to access the Southeast Asian market.”

Thailand to Regulate Digital Platform Service Businesses

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Thailand’s cabinet, on 25 October 2021, approved a draft decree to regulate digital platform service businesses to maintain financial and commercial stability and to prevent damage to the public, a government spokesman said.

Such businesses, both in and outside of Thailand, will need to notify the government before operating, the spokesman said in a statement. The law will apply to various digital platform services including online marketplaces, social commerce, food delivery, space sharing, ride/car sharing and online search engines, he said. The spokesman also noted that they are all increasingly important to the economy and society, so there is a need to oversee them.

Since 1 September 2021, Thailand has followed in the footsteps of many countries in imposing a value-added tax (VAT) charge of 7% on non-resident digital service providers. It is a significant step for the country in capturing revenue created by the digitalisation of the economy.

The ‘e-service tax’ obliges non-resident digital service providers that earn over THB1.8 million per year to pay the VAT. The department expects around 100 foreign e-service providers to register to pay VAT in Thailand during the initial stage of tax enforcement.

So far, about 70 foreign e-service operators have registered, of which 20 are giant online platform operators. Since the tax is not a direct tax on income but an indirect tax via VAT, some e-service providers are likely to pass the tax burden onto customers. As such, those who pay the tax are not those e-platform operators but local end-users.

However, some doubt remains about how effective the tax scheme will be. The department is faced with several questions. How can the Revenue Department verify the amount of VAT that those foreign digital platform providers have to pay? What can the government do if they fail to pay the tax, especially when several operators have no physical presence?

E-service tax can ensure fairer treatment for local digital service providers who bear a higher cost burden as they are obliged to pay VAT. However, as the digital economy is growing, VAT collections alone might not ensure fair competition.

While other foreign businesses and investors including local digital service providers pay Thai corporate tax on income, non-resident digital service providers do not have to as they are not physically present in Thailand. So, these service providers still have an upper hand.

Digitalisation and the digital economy are continuing to grow. Figures by DataReportal show that there were 48.59 million internet users in Thailand in January 2021. The number of internet users in Thailand increased by 3.4 million (+7.4%) between 2020 and 2021. Internet penetration in Thailand stood at 69.5% in January 2021.

There were 55.00 million social media users in Thailand in January 2021. The number of social media users in Thailand increased by 3.0 million (+5.8%) between 2020 and 2021. The number of social media users in Thailand was equivalent to 78.7% of the total population in January 2021. Moreover, device ownership also grew and diversified.

These statistics highlight the fact that a growing digital economy requires a comprehensive and effective tax and regulation strategy, which is now in the works in Thailand.

Indonesia Government Officially Deploys Blueprint for Banking Digital Transformation

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In providing guidelines and operationalising digital banking, the Financial Services Authority (OJK) has officially released the Blueprint for Digital Banking Transformation. The launching is intended to be a policy milestone in addressing the issues and risks associated with banking’s digital transformation.

The Blueprint for Digital Banking Transformation also aims to set rules for the banking industry, according to Heru Kristiyana, the Chief Executive of OJK Banking Supervision. “We will communicate the newly printed banking blueprint to all stakeholders,” he said today during the virtual introduction of the digital transformation blueprint. According to Heru, over time, traditional banking will be eroded if it does not carry out digital transformation.

OpenGov Asia reported that this blueprint will serve as a policy response to the various challenges and risks associated with banking digital transformation. The blueprint for digital banking transformation, according to OJK Deputy Commissioner for Banking Supervision, is said to be a more detailed description of the acceleration of digital transformation in the Indonesian banking development roadmap.

The fintech industry was still afflicted by a slew of digital issues, including fraud, information hacking via the sniffing method, and money mule schemes in which perpetrators ask victims to transfer money to someone else’s account. The ministry has proposed precautionary measures to ensure that the fintech industry grows in tandem with the bolstering of Indonesia’s digital economy ecosystem.

Moreover, as per Heru, technological disruption has allowed new actors in the financial ecosystem to emerge, such as fintech and others, who may provide services like those provided by banks without having a physical presence. “At the moment, banks are just getting started with digitisation. Even banks that do not wish to move on will be told that it is too late if a new bank opens now. Customers will eventually depart, I believe. But, in my opinion, it is never too late; what matters is that we are prepared to confront the challenges that lie ahead,” he remarked.

This Blueprint is focused on five elements of banking digitalisation development which include:

  • Data covering data protection, data transfer, and data governance.
  • Technology that includes information technology governance, information technology architecture, and information technology adoption principles.
  • Information technology risk management includes commercial bank cyber security and outsourcing.
  • Collaboration that includes sharing platforms, bank collaboration in the digital ecosystem; and
  • Institutional arrangements include funding support, leadership, organisational design, human resource talent, and culture.

These five elements are strategic approaches to encourage banks to develop innovative financial products and services that meet and exceed customer expectations. The Blueprint was developed by considering several factors, including future banking research, banking digitisation conditions, international standards, banking sector best practices, stakeholder involvement, and alignment with key authorities’ laws and regulations.

In addition, aspects of Balance and Neutral Technology are prioritised in this Blueprint. The Balance element aims to strike a balance between encouraging banking innovation while also paying attention to prudential issues to keep banking performance in a safe and sound state. The Technology Neutral element is used to be more flexible in the application of specific technologies to keep up with future advances.

Three main attributes are also presented in this Blueprint. The first step is to accept the Principle-Based idea. This Blueprint establishes guidelines in the form of guiding principles to allow the industry to grow. Second, it adopts a more facilitative approach. The third category is Living Documents. The Blueprint is dynamic, and it will be modified to reflect changes in the banking industry.

OJK’s commitment to promoting digital banking transformation as outlined in several policies before the release of the Blueprint for Digital Banking Transformation, including the Master Plan for the Indonesian Financial Services Sector 2021-2025 (MPSJKI) Pillar 3 and the Roadmap for Development of Indonesian Banking 2020-2025 (RP2I) Pillar 2. Encouraging banks to speed digital transformation while maintaining proper IT governance and risk management.

Singapore’s First-of-its-kind Health District

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Queenstown, Singapore’s first satellite town, is set to become a health district as part of a pilot programme aimed to assist residents in living healthier and more productive lives. The Housing and Development Board (HDB), the National University Health System (NUHS), and the National University of Singapore (NUS), in collaboration with several stakeholders from the public, private and people sectors, are embarking on a first-of-its-kind collaboration to establish the Health District @ Queenstown pilot.

Tan Kiat How, Minister of State for National Development and Communications and Information, oversees the Queenstown Health District, along with Rahayu Mahzam, Parliamentary Secretary, Ministry of Health and Ministry of Communications and Information, and Eric Chua, Parliamentary Secretary, Ministry of Culture, Community and Youth, and Ministry of Social and Family Development.

Queenstown was chosen as the Health District’s pilot site because its demographics closely resemble Singapore’s expected national demographics by 2030. Currently, the municipality boasts one of the city-oldest state’s populations, with about one in every four Singaporeans aged 65 and above.

We will leverage the broad range of expertise of our partners to create integrated solutions to enhance the health and well-being of residents across their life stages.

– The Housing & Development Board, the National University Health System and the National University of Singapore

There are opportunities to pilot interventions for bettering citizens’ well-being, promoting health-seeking behaviours, and encouraging social connections in conjunction with other forthcoming development and rejuvenation plans for Queenstown. The trial will focus on facilitating intentional longevity by giving participants chances to volunteer, work, and engage in lifelong learning. It also aims to encourage residents to follow preventive health recommendations by moving services from hospitals to or near their homes.

In addition, NUHS will also launch an updated My Health Map initiative to boost residents’ access to preventative health services by providing health screenings to residents on-site when appropriate and holding community health lectures. They can also get suggestions for health exams and vaccines based on their demographics and health status using the app’s My Health Map function. Patients can also use the app to schedule in-person visits, register for a queue number, and view the number of patients ahead of them in the queue.

“The launch of the teleconsultation feature is extremely opportune considering the Covid-19 scenario,” said Ms Clara Sin, chief operating officer of NUH and NUHS’ group service transformation and medical records offices. The agency aims to ensure that all patients receive consistent care and that they do not have to travel to the hospital, especially the elderly.

In an interview conducted by OpenGov Asia, Associate Professor Thomas Lew, Group Chief Data & Strategy Officer, National Healthcare Group, explained that Singapore is a densely connected city-state where the complexities of an internet-enabled telehealth consultation compete with the standard physical visit to the doctor. According to Associate Professor Lew, telehealth must be contextualised for value, grounded on trust-based relationships, in areas such as real-time biological monitoring, and round-the-clock trusted advice and alerts.

“For the healthy population, the potential of health coaching for individuals and organisations has yet to be fully realised.  To envision telehealth beyond transactional efficiency much remains to be done,” he explains.

Artificial intelligence and automation services and systems also significantly benefit healthcare. Yet, Associate Professor Lew believes, while AI is not in the consciousness of mainstream healthcare workers, it is ubiquitous without their realisation.

The Housing and Development Board (HDB), the National University of Singapore (NUS), and the National University Health System (NUHS) are also working together to develop affordable and usable technology to improve the lives of residents, beginning with solutions co-developed with residents, caregivers, and family/community support networks. Ultimately, the agencies said that they will collaborate with the industry to test and deploy applicable technology that allows individuals to remain self-sufficient, aids in illness prevention, and enhances healthcare delivery.

Singapore Centralised Low-Carbon Initiatives to Support Green Plan 2030

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Singapore’s Minister of Trade and Industry, Gan Kim Yong, stated that the country is considering several options to decarbonise its power grid, including boosting solar power and importing low-carbon energy from the region. Mr Gan spoke at the inaugural Singapore Green Plan Conversation hosted by the Ministry of Trade and Industry.

Mr Gan also stated that the country intends to use regional electricity systems. The Lao People’s Democratic Republic-Thailand-Malaysia-Singapore Power Integration Project has also begun, with cross-border power trading of up to 100MW between the four nations participating.

Over the last five years, Singapore’s solar energy capacity has increased by more than sixfold. By 2030, the goal is to increase solar energy deployment by fivefold to at least two gigawatts, which would power roughly 350,000 homes annually.

“We are embarking on a trial with Malaysia to import up to 100MW of electricity. This trial will allow us to build up our knowledge on larger-scale low-carbon imports from the region,” he added. “For us, climate change is an existential challenge.”

Singapore is a small city-state – without natural resources, land, nor climatic conditions for large-scale deployment of renewable energy sources. We, therefore, take sustainable development very seriously.

– Gan Kim Yong, Singapore’s Minister of Trade and Industry

The Singapore Green Plan 2030 was unveiled earlier this year as a plan for the country’s carbon reduction efforts. City in Nature, Sustainable Living, Energy Reset, Green Economy, and Resilient Future are the five pillars of the strategy. Ministers of state for trade and industry Low Yen Ling and Alvin Tan also attended the Singapore Green Plan Conversation, which intended to engage businesses and representatives from trade sectors.

The minister went on to say that the green economy will open up new doors for Singapore. “Singapore has the potential to become a carbon services centre. Companies will demand competence to control their carbon footprint as the world moves toward a low-carbon future. We aim to work with regional stakeholders to help them achieve their decarbonisation goals “he remarked. In addition, companies and employees are also urged to improve their competencies and seize new chances.

OpenGov Asia reported that per a joint press release from two countries, Singapore will join Australia in drafting a Green Economy Agreement (GEA). The cooperation intends to hasten both countries’ transition to a greener, more sustainable future, while also creating jobs and reducing carbon emissions. The agreement will highlight initiatives to encourage and ease trade and investment, with an emphasis on reducing regulatory burdens on businesses. It also aims to eliminate non-tariff obstacles to trade in environmental goods and services and to speed up the adoption of low-emission green technology.

The countries claimed this “world-first agreement” will deepen their bilateral connection through strengthened economic and environmental relations in a joint vision statement released following the conference. The agreement’s larger goal is to serve as a guide for multilateral and regional policy development by establishing policies, standards, and initiatives that will not only create good jobs in green growth sectors but also strengthen environmental governance and global capacity to deal with environmental issues.

Singapore and Australia already have an open, liberalised trade and investment relationship and are both prominent proponents of a global trading system based on open norms. Singapore is also collaborating with Australia on a solar power project that would provide green energy to Singapore via a 4,200-kilometre underwater cable from Darwin, Australia.

Moreover, the Singapore government is following up on the results of two feasibility studies, one on low-carbon hydrogen and the other on carbon capture, utilisation, and storage (CCUS) technology. As a developing country with limited access to alternative energy, these technologies are likely to play an essential part in the country’s transition to a low-carbon future.

Finally, the CCUS technology will assist the government in meeting its climate action obligations and goals, as outlined in the upgraded 2030 Nationally Determined Contribution and Long-Term Low-Emissions Development Strategy, as well as the Singapore Green Plan 2030.

Vietnam Releases Nationwide Digital Transformation Index

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The central city of Da Nang has topped the Digital Transformation Index (DTI) 2020 rankings for localities nationwide in all three key pillars, namely, the digital government, digital economy, and digital society. The rankings are a part of the DTI 2020 report, which was released at a conference in Hanoi recently. The report aimed to provide an overview of the digital transformation situation in Vietnam in 2020, helping government ministries, agencies, and localities design solutions to promote their digital transformation in the time to come. Along with Da Nang, the top ten cities and provinces include Thua Thien-Hue, Bac Ninh, Quang Ninh, Ho Chi Minh City, Tien Giang, Can Tho, Ninh Binh, Kien Giang, and Bac Giang.

According to a news report, the DTI 2020 report is based on four major sources:

  • Data from reports of ministries, ministry-level agencies, government-run agencies, and centrally-run cities and provinces in 2020
  • Data collected from people, entrepreneurs, state officials, and public servants
  • Experts’ assessments on digital transformation and information technology
  • Evaluations collected through the Internet under the supervision of the Ministry of Information and Communications (MIC)

In the rankings for ministries and ministry-level agencies, the Ministry of Finance was placed in the top position with 0.4944 points. It was followed by the State Bank of Vietnam (0.4932 points), the Ministry of Planning and Investment (0.4701 points), the Vietnam Social Security (0.4643 points), and the Ministry of Health (0.4582 points). So far, 12 out of 63 localities nationwide have issued their own resolutions to support digital transformation.

Meanwhile, 50 out of 92 ministries, ministry-level agencies, government-run agencies, and centrally-run cities and provinces have designed programmes or plans for digital transformation in the 2021-2025 period. Last year was the first year that MIC had compiled the Digital Transformation Index of ministries, agencies, and government departments. It was also the first time that a survey had been conducted to collect data serving the work through the official website.

Last year, the government issued the National Digital Transformation Programme to 2025, with a vision to 2030. It aims to develop a digital government, economy, society, as well as form Vietnamese digital technology enterprises capable of going global. Under the strategy, the government aims to use technology to help deliver better quality services, support efficient decision-making, formulate better policies, optimise resources, and aid socio-economic development. Other tasks include operating specialised network infrastructure securely, connecting four administrative levels from the central to the commune level, and building a government cloud computing platform.

Vietnam also intends to develop the National Data Exchange Platform and application platforms on mobile devices for all e-government services. It will complete the National Public Service Portal and build the National Data Portal and a platform for digital collaboration. The strategy outlines the roles and responsibilities of ministries, industries, and local governments in leveraging digital technologies like cloud computing, big data, mobility, the Internet of things (IoT), artificial intelligence (AI), and blockchain.

The country intends to be among the top 50 countries in the ICT Development Index as early as 2025. It aims for the digital economy to account for one-third of the country’s GDP by the end of the decade, instead of only 5%. To achieve this, Vietnam must upgrade infrastructure, encourage the application of digital technology, and attract investment to create conditions for small businesses to participate in the digital economy. Vietnam also needs to equip workers with digital skills to help them become more dynamic in adapting to new technologies.

Singapore-Australia Developing Green Economy Agreement for a Sustainable Future

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Per a joint press release from the two countries, Singapore will join Australia in drafting a Green Economy Agreement (GEA). The cooperation intends to hasten both countries’ transition to a greener, more sustainable future, while also creating jobs and reducing carbon emissions. The agreement will highlight initiatives to encourage and ease trade and investment, with an emphasis on reducing regulatory burdens on businesses. It also aims to eliminate non-tariff obstacles to trade in environmental goods and services and to speed up the adoption of low-emission green technology.

The countries claimed this “world-first agreement” will deepen their bilateral connection through strengthened economic and environmental relations in a joint vision statement released following the conference. The agreement’s larger goal is to serve as a guide for multilateral and regional policy development by establishing policies, standards, and initiatives that will not only create good jobs in green growth sectors but also strengthen environmental governance and global capacity to deal with environmental issues.

Singapore and Australia already have an open, liberalised trade and investment relationship and are both prominent proponents of a global trading system based on open norms. Singapore is also collaborating with Australia on a solar power project that would provide green energy to Singapore via a 4,200-kilometre underwater cable from Darwin, Australia.

The Sun Cable project, worth A$30 billion (S$29.5 billion), aims to bring green power to Singapore via a 4,200-kilometre cable from Darwin in Australia’s Northern Territory. The goal is to begin sending power to Darwin in 2026, with the first shipments to Singapore in 2027, and full commercial operations by the end of 2028. According to the company, supplying up to 15% of Singapore’s electricity demand could lower emissions by six million tonnes per year.

OpenGov Asia reported that Singapore is currently implementing efforts to make industrial production processes and energy usage more environmentally friendly and to improve energy efficiency. The Republic also aspires to become a sustainable tourism destination, as well as a carbon services hub and a centre for green finance, to help Asia’s sustainability efforts. This also entails ensuring that new carbon-intensive investments brought into Singapore are among the best-in-class in terms of carbon and energy efficiency.

The Green Economy, one of five key pillars of the new Green Plan, aims to seek green growth opportunities to create new jobs, transform Singapore’s industries, and harness sustainability as a competitive advantage, the statement said.

With this objective, Singapore’s National Environment Agency (NEA) recently launched an SGD 3 billion multicurrency medium-term note programme as well as a green bond framework to fund the development of sustainable waste management infrastructure. In addition, by 2035, all government vehicles will be powered by cleaner energy, five years ahead of the national objective of 2040. All new government vehicles must have zero emissions by 2023.

Last July, Minister for Sustainability and the Environment Grace Fu declared these and other targets. She explained the numerous ways the government will spearhead low-carbon activities under GreenGov.SG project. Government-owned workplaces and public infrastructure have set a goal of reaching maximum emissions by 2025, after which they will begin to reduce emissions five years ahead of the rest of the country.

Under the Paris Agreement, Singapore aims to peak at 65 million tonnes by 2030, reduce to 33 million tonnes by 2050, and achieve net-zero emissions sometime in the second half of the century.

Vietnam Launches Bug Bounty Programme to Enhance Cybersecurity

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The Ministry of Information and Communications (MIC) has rolled out a Bug Bounty programme to detect security holes and vulnerabilities on national digital platforms. The National Cyber Security Centre (NCSC) described the Bug Bounty programme as a solution to help the government connect with leading domestic and international security experts and save time and costs while ensuring the network security of national platforms.

According to a press release by MIC, Bug Bounty is an annual programme and will be held from October 2021 to October 2022. The total prize money in the first year is VND1 billion (around US$50,000) and is expected to increase annually. Under the programme, MIC will announce a list of the top 50 experts who have made significant contributions to the detection of security holes on the Vietnam Information Security Day, which is held in November every year. The top three cybersecurity experts will receive awards and certificates of merit from the Minister of Information and Communications.

The initiative is an extension of the campaign “Detecting security holes on technology platforms for epidemic prevention and control”, which was launched earlier this month. Aiming to turn Vietnam into a digital country, and a nation of stable development and prosperity by 2030, the National Digital Transformation Programme approved by the government in June 2020 emphasises that cybersecurity is the key and an integral component to successful and sustainable digital transformation. Based on this, the government launched the Bug Bounty programme to detect security holes and better protect national digital transformation platforms.

Globally, vulnerability search platforms are common in the field of information security. “White-hat hackers” or vulnerability experts search for security holes on the platforms of large tech. The Certified Information Systems Auditor (CISA), an agency under the United States government, has selected Bug Crowd and EnDyna to implement a federal policy to find vulnerabilities on government technology platforms.

Earlier this month, the Vietnam Computer Emergency Response Team (VNCERT) and the Authority of Information Security, under MIC, presided over the deployment of the 2021 ASEAN Computer Emergency Response Team Drill (ACID 2021) for members of the emergency response network and IT units of ministries and agencies nationwide. Attending the ACID 2021 were teams representing ASEAN member nations and five dialogue countries, namely Australia, China, India, Japan, and the Republic of Korea.

As OpenGov Asia had reported, the drill was an opportunity for technicians of Vietnamese agencies, organisations, and enterprises to practice their skills in dealing with, investigating, analysing, minimising damage, and reporting emergencies. It aimed to help them gain knowledge and experience in responding to cyber security incidents. The ACID 2021 drill used the latest cybersecurity trends as scenarios for teams to strengthen their preparedness in solving cybersecurity issues. After the drill, experts and domestic team members spent time exchanging and sharing situations and solutions to help participants better understand how to handle the incidents in a specific case.

As per data from the first six months of this year, cyberattacks in Vietnam decreased but the level of sophistication and damage was much greater. Vietnam recorded 2,915 cyber-attacks in the first six months of 2021, an increase of 898 compared with the same period last year. Earlier in May, the MIC Minister issued a directive on strengthening the prevention and combat of violations and crimes on the Internet. The Minister also requested the sector to continue to effectively implement the Prime Minister’s directive on enhancing safety measures on cybersecurity which aims to improve Vietnam’s rankings.

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