Deputy Prime Minister (DPM) and Minister for Trade and Industry Gan Kim Yong has taken on the role of chairman for the Singapore Economic Development Board’s (EDB) International Advisory Council (IAC) effective June 1, 2024. He succeeds Prime Minister Lawrence Wong, who held the position since July 2023.

In his new role, DPM Gan emphasized the significance of the IAC as a platform that enables Singapore to gain insights from industry leaders. These insights are crucial for maintaining the country’s competitiveness in an increasingly dynamic global economic landscape. PM Wong highlighted the valuable discussions held last year, which focused on enhancing Singapore’s overall competitiveness amid growing global industrial policies.

DPM Gan acknowledged the structural shifts occurring in the global economy and stressed the importance of remaining attuned to external trends to attract high-quality investments. “In this way, we can continually enhance our economic heft for the benefit of all Singaporeans,” he stated.

The EDB established the IAC in 1994, with its first meeting convened in 1995. Currently, the council comprises 16 members leading prominent business organizations across various industry sectors and regions. Gan will chair the upcoming 22nd meeting of the IAC in October, continuing the council’s tradition of strategic engagement with global business leaders.