Our Co-Chairman, Tan Chong Huat, and Council Member, Tan Poh Hwee, share their perspectives in a commentary published in The Straits Times on how Singapore can strengthen its economic resilience by developing deep-technology capabilities, mobilising patient capital and building globally indispensable businesses.

The article challenges the view that Singapore’s economic resilience depends on producing more homegrown multinational corporations. Instead, the authors argue for strengthening Singapore’s position in global supply chains by developing specialised deep-tech capabilities, supporting local suppliers and making the country harder to bypass.

Drawing on the development of AEM Holdings and Micro-Mechanics, the article shows how local firms can build durable value by solving narrow but costly industry problems, retaining engineering and research capabilities in Singapore, and using multinational customers as a proving ground. The goal is not permanent dependence on a single anchor customer but the creation of portable technology, market access and a broader customer base.

The authors also call for a more focused approach to investment incentives, assessing not only capital, jobs and research spending, but the local capabilities created — including suppliers qualified, engineers trained and intellectual property developed. For businesses and investors, the central takeaway is that patient capital, capability-building and deeper links between global demand and local expertise are essential to long-term competitiveness.

Read the full article in The Straits Times here.