A report by the Financial Action Task Force says Singapore has a strong regulatory and supervisory framework in place against money laundering and terrorism financing, but more can be done.
Excluding biomedical manufacturing, manufacturing output grew 2.3 per cent year-on-year, according to data released by the Economic Development Board.
Only a small proportion - 14.1 trillion rupiah, or about 12 per cent - of the assets held in Singapore has been repatriated, said Indonesia's Ministry of Finance.
Speaking at the Milken Institute Asia Summit, Monetary Authority of Singapore (MAS) Managing Director, Ravi Menon, suggested that these uncertainties are caused by lower confidence in future growth prospects and structural shifts in global supply chains.
Deputy Prime Minister and Coordinating Minister for Economic and Social Policies Tharman Shanmugaratnam says that over the last 10 years, more than 80 per cent of those who invested through the scheme would have been better off leaving their money in the CPF Ordinary Account.
Mr Lee, who is on a brief stop in Chongqing before returning to Hangzhou on Sunday for the G20 Leaders’ Summit, also met a Singapore business delegation, including company leaders from Temasek, Changi Airport Group, and CapitaLand.
They say their investments into the western Chinese city can also help to open doors for other Singapore businesses to venture into the region.
Minister in the Prime Minister's Office Chan Chun Sing co-chaired the second Joint Implementation Committee Meeting for the initiative on Thursday (Sep 1).
Vietnamese President Tran Dai Quang's visit marks the 43rd anniversary of diplomatic relations between Singapore and Vietnam.
Mr Tharman said the Government will work closely with the respective trade associations and chambers (TACs) to better understand the industry's challenges and technology needs and find solutions that meet SMEs' business needs.