ABSTRACT
In recent years, the aim to transform into a smart nation together with the drive towards ubiquitous digitalization of the economy has provided the hope and conduit to launch the economy into a new phase of growth. In this chapter, we trace the evolution of Singapore’s journey in digital transformation of the economy. Starting from encouraging greater use of ICT in industries and the computerization drive in the civil services to increase labour productivity and service quality, the many national IT plans launched over the years had laid a solid foundation for the establishment of a SMART nation and digital economy. The chapter describes and analyses the strategies adopted by the Singapore government to develop a digital business ecosystem to transform the economy into a new phase of growth. In particular, we consider the various schemes, incentives and action plans crafted to help small and medium-sized enterprises, which make up 99% of total enterprises in the economy, to transform their business models into one that makes the best use of digital technologies. Digitalization is part of Singapore’s game plan to be a global-Asia node for technology, innovation and enterprise.
