Singapore Announces Strategy for E-commerce Industry: Potential for Global and Regional Hub

The Singaporean government is increasing its efforts to digitize processes needed in E-commerce. This includes efforts in digitalizing local enterprises and encouraging them to adopt e-payment and e-invoicing. One of these efforts includes government initiatives like the National Digital Identity platform to help initiate this push for digitalization, providing Singaporean residents the resources to digitally provide their identity and documents.

To increase these efforts the Singaporean government has introduced various plans to aid Singapore in its transformation to be a regional and global e-commerce center. These plans include expanding their internet network by strengthening their digital infrastructure.
In addition to this Singapore’s already established standing in the world’s economy, provides for an environment where their desire to be the next global E-commerce hub could thrive.
Examples of this include their already investor-friendly tax policy and attractiveness to multinational tech companies to invest in the country.