By 2050, Asean may easily be the fourth-largest economy in the world with trade that is projected to reach US$10 trillion. This is welcome news to the Singapore Economic Development Board (EDB). For years, the EDB, a government agency under the Singapore’s Ministry of Trade and Industry, has been instrumental in cementing the country’s role as Southeast Asia’s trading and investment gateway. As more emerging markets trail mature economies Japan and South Korea, advancements in technology, digitalisation and industry innovations are not far behind. Through the government’s Smart Nation initiative, the EDB ensures that innovators and entrepreneurs are empowered to address unmet needs in Asia using cutting-edge applications. “The importance of Asia as a market will continue to be a major growth driver for Singapore,” says Dr Beh Swan Gin, EDB chairman. “We continuously strengthen our ties with neighbouring markets as we harness technology to improve lives, and pursue economic development through innovation engines.” Apart from marketing Singapore as a leading investment destination where top talents thrive, the EDB also helps companies adapt quickly to technological changes. It works with large corporations as they transform and create new businesses, products and services, emphasising the country’s digital and cultural connectivities. In the pipeline are projects that explore the mobility and food technology spaces. Trials are ongoing for autonomous vehicles while initiatives that promote urban farming are gaining ground. “We focus on improving the city’s liveability value,” Beh says. “Singaporeans are proud of their city because it is open, safe and connected.” Preparing for Asean’s huge growth, the EDB is especially bolstering its links with Hong Kong businesses. “In a large economy, there is room for more than one global city,” Beh says. “Collaborating with Hong Kong will help us strengthen our roles as leading hubs in Southeast Asia and China.” www.edb.gov.sg