Committee of Supply 2025 debate, Day 1: Foo Mee Har on building up Singapore’s position as a leading philanthropy hub

Philanthropy today has the potential to catalyse social innovation and drive systemic solutions to some of Asia’s most pressing social and environmental challenges. Beyond traditional donations and grants, impact investing and venture philanthropy have shown they can generate meaningful and scaleable impact. MP Foo Mee Har made these points in parliament on Friday (Feb 28). She suggested three ways for Singapore to strengthen its position as a leading philanthropy hub - harmonise regulations and incentives for philanthropy and impact capital, establish a benchmark to encourage businesses to integrate social impact into their strategies, and introduce a philanthropy Alliance for Action that can shape strategic direction and drive collaboration and momentum.