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Singapore's
Ministry of Trade and Industry
The
origins and history of Singapore's Ministry of Trade
and Industry are intimately linked to the economic
history of Singapore. MTI was created out of the former
Development Division of the Ministry of Finance in
March 1979, tasked with anticipating problems ahead,
identifying opportunities for growth, rationalising
existing policies and giving broad directions for
growth.
MTI
now has about 130 staff in HQ with nine statutory
boards and two government departments under its purview.
Current
status:
To better deal with the challenges of the 21st century,
MTI HQ was recently re-organised into the Economics,
Trade, Industry Development and Resource Development
Divisions with Corporate Services Division providing
support and administrative services and the Department
of Computer Information Services providing information
technology services.
Economics
Division provides a good understanding
of the Singapore economy for rational policymaking.
Studying and identifying key sectors and clusters
in Singapore, it also assesses the impact of policy
initiatives by other government agencies besides
producing research and analyses of the Singapore
economy and global trends.
Industry
Development Division spearheads policy
and strategy formulation and reviews to sharpen
the strength and competitiveness of the Singapore
economy. Its primary focus is in developing the
manufacturing, technology, tourism and services
sectors of the economy. It works closely with EDB,
NSTB,
STB
and SDC
to formulate and implement sectoral economic masterplans
and industry development, investment promotion and
enterprise development programmes.
Resource
Development Division's role is to
ensure the efficient provision of infrastructure
such as industrial land and facilities, electricity,
water and piped gas, as well as promote productivity,
quality and worker training in Singapore. It works
closely with statutory boards, JTC, PUB and PSB
to formulate and implement relevant policies and
masterplans that support Singapore's economic development
and enhance our international competitiveness.
TheTrade
Division protects Singapore's trading interests
by enhancing access to global markets for goods,
services and investment. It also manages Singapore's
participation in the international and regional
fora such as the World Trade Organisation (WTO),
Asia-Pacific Economic Co-operation (APEC), Association
of Southeast Asian Nations (ASEAN) and the Asia-Europe
Meeting(ASEM)
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