Singapore Growth Panel Urges Push to Attract AI Firms, Expand Energy Hub Role

Singapore should attract leading artificial intelligence companies and expand its role as a global energy hub to support growth and job creation, a government-appointed committee said in recommendations submitted on May 13, 2026. The panel said Singapore needs to sharpen its value proposition amid a more difficult global environment, including geopolitical tensions that could weigh on growth and lift inflation. It urged the city-state to anchor major industries in Singapore, building on its role in supply chains such as semiconductors. The committee identified quantum technology and space technology as promising sectors, citing Singapore’s existing capabilities in semiconductors, advanced manufacturing, aerospace and satellite systems. It also recommended positioning Singapore as a trusted hub for AI development, testing and deployment by attracting top AI companies and talent. Deputy Prime Minister Gan Kim Yong said at a business federation conference that Singapore “cannot assume that yesterday’s strengths will automatically become tomorrow’s place.”