Singapore announced a record $37 billion investment to enhance research, innovation, and enterprise over the next five years. The focus is on transforming discoveries, especially in bioeconomy sectors, into economic growth and solutions for national challenges. The new RIE 2030 plan aims to position Singapore as a leader in bioinnovations and sustainable development.
Senior Minister Lee Hsien Loong explained that research and innovation are critical as Singapore’s economy matures. He said, “They will drive growth and help us address pressing issues like sustainability and health.” The plan outlines key areas to strengthen Singapore’s research ecosystem and promote impactful innovations.
The increased funding, a 32 percent jump from the current $28 billion RIE2025 budget, begins in April 2026. It remains around 1 percent of Singapore’s GDP, aligning with other small advanced economies. Notably, $3 billion will support two high-level programmes: RIE Grand Challenges and RIE Flagships. These initiatives will focus on creating solutions for strategic priorities and economic value.
A highlight is the first Flagship project, which will focus on semiconductors and bioeconomy. This project aims to establish Singapore as a vital R&D hub for bioinnovations, including sustainable products and alternative feedstocks. It will deepen capabilities in areas like advanced packaging, heterogeneous integration, and photonics.
Singapore already plays a key role in the global semiconductor supply chain, with significant growth prospects in bioeconomy sectors expected to reach $1 trillion by 2030. AI-driven innovations could add another $300 billion in revenue. These programmes will promote collaboration across institutions to maximize impact.
Most of the funding will support mission-driven research in healthcare, manufacturing, urban solutions, and the digital economy. Senior Minister Lee emphasized long-term, stable investments to keep Singapore at the forefront of bioinnovations and sustainable growth.
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