Adjournment motion on an industrial policy in finance
An industrial policy in finance may seem a contradiction in terms, but it is not, said MP Kenneth Tiong. In an adjournment motion in parliament on Thursday (Feb 12), he called for the shift to gold, saying “the market is here and so is the chance”. He described what an industrial policy in gold would look like in several elements, such as sovereign guarantee and sourcing verification. Responding, Deputy Chairman of the Monetary Authority of Singapore Board of Directors Chee Hong Tat said he would see whether Mr Tiong's ideas can be implemented to strengthen Singapore’s position as a gold trading hub. He stressed that Singapore's financial sector has made much progress but there is a still a lot more it can do. The way to move forward is to work very closely with industry, whether for the gold market or other segments of the financial sector, he added.
An industrial policy in finance may seem a contradiction in terms, but it is not, said MP Kenneth Tiong. In an adjournment motion in parliament on Thursday (Feb 12), he called for the shift to gold, saying “the market is here and so is the chance”. He described what an industrial policy in gold would look like in several elements, such as sovereign guarantee and sourcing verification. Responding, Deputy Chairman of the Monetary Authority of Singapore Board of Directors Chee Hong Tat said he would see whether Mr Tiong's ideas can be implemented to strengthen Singapore’s position as a gold trading hub. He stressed that Singapore's financial sector has made much progress but there is a still a lot more it can do. The way to move forward is to work very closely with industry, whether for the gold market or other segments of the financial sector, he added.
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