SBF, PwC list 18 recommendations to strengthen S'pore economy

They outline 5 priorities to consider for 2026 Budget

- Krist Boo Senior Business Correspondent

Singapore's apex business chamber is urging the Government to boost intellectual property (IP) financing, hasten Asean integration, and work with businesses to support the hiring and retention of older workers.

Drawing on 18 recommendations, the Singapore Business Federation (SBF) and its knowledge partner, PwC Singapore, outlined five key priorities for the Government to consider in shaping the 2026 fiscal Budget.

At a media briefing on Jan 12, SBF chief executive Kok Ping Soon said the proposals were grounded in findings from the chamber's business surveys, industry feedback, as well as insights gleaned from the ongoing Singapore Economic Resilience Taskforce and Economic Strategy Review.

Though Singapore's economy grew 4.8 per cent in 2025, the Government's slower 1 per cent to 3 per cent projection for 2026 reflects caution, Mr Kok said, noting that some factors that fuelled growth in 2025 may dissipate this year.

Growth in 2025 was boosted by the front-loading of exports in anticipation of US tariffs, which have yet to be determined for the pharmaceutical and semiconductor sectors. These two sectors collectively account for about 40 per cent of Singapore's exports into the US.

"The truce between China and the US will come to an end sometime in November, so we really don't know what's going to happen," he noted.

SBF and PwC are among the organisations and individuals making recommendations for the 2026 Budget since the Finance Ministry started collecting views from Dec 2. Finance Minister and Prime Minister Lawrence Wong will deliver the Budget statement on Feb 12.