Singapore channels state budget funds for transformation into a smart nation

The government is placing an emphasis in three industries with its splash of SGD 724 million.

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Singapore channels state budget funds for transformation into a smart nation

The Singapore government is taking strides to facilitate a digital transformation of the city-state. It announced on Wednesday that SGD 500 million (USD 369 million) will be invested in artificial intelligence, supercomputing, and robotics, according to a Bloomberg report.

An additional SGD 80 million (USD 59 million) will be spent on developing cell-therapy manufacturing capabilities, and SGD 144 million (USD 106 million) will be funneled toward research and development in advanced food production, including the creation of cell-based culture meats.

These funds are part of an SGD 19 billion (USD 14 billion) plan that was put in place four years ago, meant to transform Singapore by doubling down on research conducted by private enterprises.

Editor: Brady Ng