A new committee will be established to strengthen the economic resilience of Singapore's Malay/Muslim community, and prepare it for the future economy.
This was announced by Acting Minister-in-charge of Muslim Affairs Faishal Ibrahim during the annual Minister's Hari Raya Get-Together on Friday (April 10) evening.
At the event, Assoc Prof Faishal said members of the Malay/Muslim community are also concerned about how the workforce and businesses can adapt and thrive in the new economy.
Pointing to the Economy Strategy Review's (ESR) mid-term update in January, which set out seven recommendations from a government-led review of Singapore's economy, Assoc Prof Faishal said employees have expressed concerns about how they can use and benefit from artificial intelligence (AI), including navigating a more competitive job landscape.
He added that companies are also keen to explore international opportunities in the region and the Middle East.
"We also have dynamic and innovative entrepreneurs, as well as workers who are keen to upgrade themselves to raise their productivity, develop new capabilities, and move up the value chain," Assoc Prof Faishal said.
Noting that the community has been participating in the national conversation on Singapore's economic future, he said the community now has to find tangible ways to secure good jobs and growth prospects.
"This could include helping our workers acquire new skills to respond and adapt to changes throughout their careers, supporting Malay/Muslim businesses to capture the transformative powers of AI, and bringing our small and medium-sized enterprises overseas to connect with potential partners," the acting minister added.
Committee to identify and map out key sectors
The committee, to be co-led by MP for Jalan Besar GRC Dr Wan Rizal and MP for Bishan-Toa Payoh GRC Saktiandi Supaat will comprise corporate leaders and industry experts across the Malay/Muslim community.
Speaking to the media at the event, Saktiandi said the committee's formation comes at an important junction.
"Global developments and technologies are driving rapid changes in the economy, and new opportunities will go to those who are ready.
"It is therefore important that our community remains ready, adaptable and confident in seizing these opportunities," he said.
Saktiandi, an economist by training, added that the committee will identify and map out the key sectors which are pertinent to the Malay/Muslim community, including areas of growth, and examine how they can be better equipped to seize the associated opportunities.
In a separate statement posted on his Facebook, Dr Wan Rizal said the committee aims to deliver "practical outcomes" through its work.
The two co-chairs went on to identify three broad areas the committee will focus on: identifying key sectors and new growth areas with strong potential; supporting different segments of the community; and, developing actionable pathways, particularly in areas such as skills, jobs, and enterprise development.
"In line with the ESR's priorities, we want to work to deliver tangible benefits... so that the Malay/Muslim community can continue to progress with confidence and contribute meaningfully to Singapore's economy," Saktiandi said.
Enhancements to tertiary tuition fee subsidy
At the event, Assoc Prof Faishal also announced enhancements to the tertiary tuition fee subsidy (TTFS) scheme.
He highlighted that preparing for the future economy starts with investing in the community's young, noting that tertiary education is one of the strongest enablers of progress over the long term.
"It opens up new career pathways and improves employment prospects," Assoc Prof Faishal said.
As part of the enhancements, the income eligibility criteria across all tiers will be raised so that more households can be covered.
The per capita income threshold for the 100 per cent, 75 per cent, and 50 per cent subsidy tiers will be increased to $1,700, $2,000 and $2,200 respectively.
There will also be an additional 25 per cent subsidy tier for middle-income Malay households with per capita income of up to $2,400, so that they can benefit and receive some level of support to defray the cost of tertiary tuition fees.
These enhancements will be implemented with effect from the 2026/2027 academic year.
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