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Singapore’s MAS has been pioneering efforts to make these credits more viable through initiatives like the "Transition Credits Coalition" (TRACTION), a programme launched at COP28 to scale up transactions from pilot phases to more substantial, market-ready frameworks.
Huang Wei-jie, Deputy Director-General of the Department of Statistics at Taiwan, attributed this robust performance to restocking requirements linked to new technology product launches and substantial investments by U.S. tech giants in AI development. While the momentum in industrial production appears sustainable, Huang cautioned that growth may slow slightly in September as some non-tech firms face challenges and opt for maintenance inspections, as indicated by the ministry’s monthly survey.
He noted that various energy projects across Malaysia are set to increase production capabilities. “Taken together with energy-focused initiatives in all states, we are confident of a surplus of energy that feeds developments such as the JS-SEZ, while also allowing for growth in our energy exports,” he stated.
The Vietnamese government has recognized the importance of this industry as a key driver of economic growth and technological advancement. With a vision to establish a robust semiconductor ecosystem, the strategy aims to attract foreign investment, enhance research and development capabilities, and foster collaboration between domestic companies and international partners.
MARC highlights that using this differential as a metric offers a nuanced view of fiscal sustainability, differing from traditional deficit and debt ratios. Current projections indicate Malaysia is on track to meet this differential target, although boosting economic growth remains essential for long-term stability.
Founded in 1974, Temasek was originally established to hold and manage assets transferred from the Singapore government, including stakes in key domestic companies.
Singapore’s ambition to remain a global hub for innovation and technology-driven industries has led to a growing demand for skilled professionals in fields such as artificial intelligence (AI), cybersecurity, data science, and software engineering.
One of the central elements of the reform package is the introduction of more flexible listing rules aimed at encouraging technology and high-growth companies to go public in Singapore. This move is intended to diversify the market and attract a broader range of investors. Additionally, the government is looking into adjustments in tax policies and corporate governance practices to make the market more competitive on a global scale.
Chia highlighted that recent economic indicators have shown growth trending towards the upper end of this range, and he expects the final figure for the year to fall squarely within it. His comments followed a report from private-sector economists, who recently revised their GDP growth forecast for 2024 up to 2.6%, an increase from the previous 2.4% projection made in an MAS survey in June.
The discussions, which took place in Kabul, focused on enhancing security cooperation, fostering joint economic ventures, and addressing social interests in Afghanistan.
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