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NEW UPDATES Asean Affairs  6 July 2015  

Singapore needs ecosystem for innovation to remain competitive: MAS

SINGAPORE: The Monetary Authority of Singapore's (MAS) managing director, Ravi Menon, has said that for the economy to remain competitive in the next 50 years, an ecosystem for innovation must be created, bringing together small and large firms.

He said this on Friday (Jul 3) at the SG50+ Conference organised by the Institute of Policy Studies and the Lee Kuan Yew School of Public Policy.

Said Mr Menon: "Most of the innovation, and this is documented repeatedly in studies, takes place in small firms. But they do not have the scale and the market and outlet to operationalise and commercialise those innovations. And then they have tie-ups, and they work through the large firms, and they themselves become large, they IPO, they have a life of their own. That is the ecosystem we need to create here."

Earlier in his speech, Mr Menon said that with strong economic development and integration across the region, Singapore businesses will have greater potential to internationalise their operations.

Technology can also help sustain growth by working in tandem with human capital. Mr Menon added that as Singapore grows, it must continue to ensure equality and social mobility.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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