Committee of Supply 2025 debate, Day 4: Edward Chia on innovation, growth and sustainability

Singapore's economic resilience depends on fostering innovation, transitioning to a low-carbon economy, strengthening local enterprises and revitalising tourism. By supporting start-ups, enhancing business networks, advancing sustainability and promoting tourism, the government can cement Singapore's global hub status. MP Edward Chia made these observations in parliament on Wednesday (Mar 5). He noted that despite a strong entrepreneurship ecosystem, start-ups continue to face challenges in securing growth funding. He asked how the Long Term Investment Fund and Private Credit Growth Fund will help in addressing these challenges. Mr Chia also wanted to know how the Ministry of Trade and Industry (MTI) is fostering an ecosystem where personal networks support enterprise scaling. Pointing out that many high-net-worth individuals possess vast business networks, he asked how MTI is engaging these individuals to deploy patient capital and activate their networks to help local enterprises expand internationally. He also proposed that existing multinational enterprise support programmes be expanded to include joint ventures and shared services.