Singapore, Sept. 24 -- Singapore is stepping up efforts to secure its economic future as global challenges intensify, Singaporean Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong said at the Parliament on September 22.

According to him, the recent surge in protectionism, trade tensions and tariff measures is not a passing storm, but a sign of a changed world that is more fragmented and competitive.

To adapt, the government has formed the Singapore Economic Resilience Taskforce (SERT) to help firms and workers respond to global uncertainties, while preparing a refreshed Economic Strategy Review (ESR) to be released early next year.

Gan outlined a three-pronged approach that will anchor Singapore's new blueprint. Fi...