Wealth Management Competitiveness Remains Singapore Priority, Says Gan

Singapore wealth management hub competitiveness will depend on maintaining trusted regulations and improving efficiency as the city-state faces increasing competition from other international financial centres.

Deputy Prime Minister Gan Kim Yong said Singapore must continue strengthening its regulatory framework while ensuring that financial services remain attractive to wealthy investors.

“You can trust Singapore to manage your wealth,” Gan told Bloomberg Television on October 14 during the Bloomberg New Economy Forum in New Delhi.

His comments come as Singapore competes with Hong Kong and Dubai to attract international capital, family offices and wealth management businesses.

Gan also emphasised the importance of strengthening supply-chain resilience amid geopolitical tensions and climate-related risks, warning that the costs of disruption could exceed investments in preparedness.

Singapore is diversifying its natural gas supplies, examining nuclear energy options and supporting a phased approach to the ASEAN Power Grid.

The city-state is scheduled to assume ASEAN’s chairmanship in 2027.