Abstract

In this paper, we trace the evolution of Singapore’s journey in digital transformation of the economy. The aim to transform into a smart nation has evolved with the drive towards ubiquitous digitalization of the economy to launch the economy into a new phase of growth. Digitalization can be as simple as adopting some Information and Communication Technologies (ICT), but can be as complex, and sometimes confusing, to include many new aspects like AI, machines learning, big data, IOT, 5G, blockchain and analytics. Singapore started the journey with computerization drive in the civil services to increase labour productivity and service quality. Subsequently, via many national IT plans launched over the years, she has developed a solid foundation for the establishment of a smart nation and digital economy with many aspects of the complexities included. The paper describes and analyzes the strategies and schemes adopted by the Singapore government to develop the digital business ecosystem, especially the assistance rendered to SMEs. We attempt to trace and record the effectiveness of the digitalization drive as Singapore aspires to be a Global-Asia node for technology, innovation and enterprise. The digital economy of ASEAN is estimated to have a potential value of S$2.7 trillion (US$2 trillion). The experience of Singapore as a fore-runner in digitalization will be useful reference for learning and adaptation by other member countries in ASEAN.

Keywords: Smart nation, Digital transformation, e-commerce, Artificial Intelligence (AI), Automation, Digital economy, SME, Industry 4.0, Global value chain, IoT, 5G, Singapore