In the Budget 2024 speech delivered on February 16, 2024, Finance Minister Lawrence Wong announced that Singapore will invest in enhancing its national broadband network. The goal is to provide mass market access to broadband speeds of up to 10 gigabits per second by the second half of the decade.

This new standard represents a speed increase of 10 times compared to the current broadband speeds available in most households. This initiative aims to position Singapore as a leader in digital connectivity, supporting the growing demand for high-speed internet in both residential and business environments.