Singapore digest news (22.05-27.05)

President of Singapore arrived in Tashkent on state visit

During the visit, which lasted until May 25, President Halima Yacob held talks with President Shavkat Mirziyoyev and other officials, attended the opening of a business forum of the two countries and visited Samarkand.


Number of ultra-rich in Singapore expected to reach 5,300 in 2027

The number of ultra-wealthy people in Singapore is expected to grow 17.7 per cent to around 5,300 between 2022 and 2027. According to the latest report, the number of ultra-high-net-worth individuals (UHNWI) in Singapore rose 6.9 per cent to 4,498 in 2022, up from 4,206 the previous year.


Development of G4 City and ТIТR: what Kazakhstan and Singapore agreed on at the forum in Astana

Kazakh-Singapore business forum with the participation of Halima Yacob, President of the Republic of Singapore, and Alikhan Smailov, Prime Minister of the Republic of Kazakhstan, resulted in signing 12 documents to the total amount of $275 mln.

Thus, the Akimat of Almaty region, LLP Khan Tengri Development Ltd. and Surbana Jurong Pte. Ltd." signed a memorandum on the development of the special economic zone G4 City. The signed document implies the development of the Kapchagai reservoir coast, wastewater treatment and waste recycling with the production of electricity.

Also, the "International Association "Trans-Caspian International Transport Route" and "Global DTC" agreed to develop transport, infrastructure and logistics potential of the states - members of the international route


Singapore central bank boosts efforts for AI and data analytics skills

The Monetary Authority of Singapore (MAS) has kicked off its Financial Sector Artificial Intelligence and Data Analytics (AIDA) Talent Development Programme.

The AIDA programme, under the National AI Programme in Finance, aims to ramp up Singapore's talents for the improvement of AI capabilities in the finance industry.


Singapore firms are gradually expanding their presence in Africa

Singapore companies that have successfully expanded into other parts of Southeast Asia will potentially do well in Africa, as both regions are developing rapidly and have similar needs, said Enterprise Singapore (EnterpriseSG).

This comes as Singaporean businesses look to expand beyond the immediate region and into Africa. There are now about 100 companies operating in 40 African countries. Some have done so for more than 20 years. Singapore kitchen appliances brand Newmatic, for instance, is helping Kenyans furnish their kitchens.