On 5 June 2025, SSA hosted a high-level fireside chat with Minister for National Development and member of Singapore Economic Resilience Taskforce (SERT), Mr Chee Hong Tat, drawing over 150 industry leaders and decision-makers from member companies from across Singapore’s maritime ecosystem who showed keen interest in confronting the global trade uncertainty head-on.
Setting the Stage
The session opened with SSA Executive Director, Loh Chun How, delivering findings from a recently conducted Business Sentiment Poll. More than 70% of respondents who are C-suite leaders, reported moderate to high concern over the ongoing trade and geopolitical disruption. Key themes included a forced rethink of trade routes, services, and fleet strategy, with manpower support emerging as a top priority — from upskilling and cross-industry reskilling to addressing ongoing talent gaps.
Call for Collaboration and Clarity
Following this, SSA President Ms Caroline Yang welcomed participants and framed the session along macro-level uncertainties facing the global trade order, and national-level responses Singapore is developing to stay competitive and resilient.
Ms. Yang spoke about the risks posed to multilateral institutions such as the WTO and IMO, and emphasised the importance of a shared commitment to stability and international cooperation. On the domestic front, she spotlighted issues raised by industry — including manpower shortages, rising business costs, and the need to maintain Singapore’s position as a premium maritime hub, not necessarily the cheapest one.
Strategy Amid Uncertainty
In a candid and insightful exchange moderated by Ms. Yang, Minister Chee addressed a wide range of questions tied to both global and local developments. One particular area of concern expressed by industry leaders was on Singapore’s resilience strategy. Minister Chee elaborated that the early work of the Singapore Economic Resilience Taskforce (SERT) supported Singapore’s strategy, with the aim of helping Singapore businesses cope with manpower and cost challenges. He offered practical insights on how both foreign and local companies, especially the SMEs can adapt — encouraging a mindset of innovation, agility, and long-term planning.
The fireside chat concluded with a robust audience Q&A, where participants posed questions directly to Minister Chee — reflecting the industry’s real-time concerns and need for clarity amid uncertainty.
To view more photos from the event, please click here.
