Industry News

Singapore and the European Free Trade Association (EFTA) have signed the European Free Trade Association Digital Economy Agreement, marking a significant step in enhancing economic and digital connectivity. The agreement, announced on 26 September, seeks to bolster trade and investment opportunities between Singapore and EFTA member countries, which include Iceland, Liechtenstein, Norway, and Switzerland.

The agreement is designed to facilitate seamless digital trade and promote collaboration in areas such as e-commerce, data protection, and cybersecurity. By establishing a framework for cooperation, the agreement aims to create a conducive environment for businesses to thrive in the digital economy.

Singapore’s Minister for Trade and Industry highlighted the importance of this agreement in fostering stronger economic ties and supporting the growth of digital industries. “This agreement underscores our commitment to building a robust digital economy and enhancing our connectivity with key global partners,” the minister stated.

The EFTA Digital Economy Agreement is expected to provide businesses with greater access to digital markets and streamline regulatory processes, thereby reducing barriers to trade. This move aligns with Singapore’s broader strategy to position itself as a leading digital hub in the region.

Looking ahead, the agreement is anticipated to pave the way for further collaboration in digital innovation and technology development, benefiting businesses and consumers alike. As Singapore continues to expand its digital footprint, this partnership with EFTA is poised to play a crucial role in driving economic growth and digital transformation.
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The Competition and Consumer Commission of Singapore (CCCS) has introduced enhanced guidelines for the e-commerce sector, aiming to bolster consumer trust and promote a competitive market. These guidelines, announced on 26 September, are designed to address the evolving landscape of online shopping and ensure fair practices amongst businesses.

The updated guidelines focus on transparency, requiring e-commerce platforms to clearly display prices, terms, and conditions to consumers. This move is expected to reduce misleading practices and empower consumers to make informed decisions. The CCCS emphasised the importance of these measures in maintaining a level playing field for businesses and protecting consumer interests.

In a statement, the CCCS highlighted that the guidelines will also address issues related to data protection and privacy, ensuring that consumer data is handled responsibly by e-commerce platforms. This is particularly significant given the increasing concerns over data breaches and misuse of personal information in the digital age.

The introduction of these guidelines is a proactive step by the CCCS to adapt to the rapid growth of e-commerce in Singapore. By fostering a trustworthy environment, the guidelines aim to encourage more consumers to engage in online shopping, thereby supporting the growth of the digital economy.

As the e-commerce sector continues to expand, these guidelines are expected to play a crucial role in shaping the future of online retail in Singapore, ensuring that both consumers and businesses benefit from a fair and transparent marketplace.

Hengdian Group, a leader in electrical and electronics, pharmaceuticals, and modern services, has inaugurated its Southeast Asia headquarters in Singapore. The new hub, located at IOI Central Boulevard Towers, marks the company’s first major base in the region and is set to spearhead a $300m investment plan over the next five years. This initiative is expected to generate up to 3,000 new jobs across Southeast Asia, supplementing the 1,000 positions already supported by Hengdian’s subsidiaries.

The Singapore headquarters will drive business development and market strategy, focusing on clean energy advancements in Thailand and Vietnam, strengthening supply chains in Indonesia and Malaysia, and expanding financial services through Singapore. Hengdian’s presence in Singapore underscores the city-state’s role as a strategic base for regional expansion, bolstered by its talent pool, connectivity, and innovation ecosystem.

Hengdian Group has a strong foothold in Southeast Asia, with operations in energy-efficient lighting manufacturing in Vietnam and a water-reuse system in Thailand. The company also plans to expand its pharmaceutical partnerships in Malaysia, reinforcing the region’s healthcare supply chains.

The group emphasises local employment, with over 90% of its workforce hired locally and more than 300 employees trained at its global headquarters. Hengdian’s expansion reflects its commitment to sustainable growth through localisation and co-development, aiming to enhance regional resilience and industry standards.

The National University Hospital (NUH) has introduced Singapore’s first dedicated service for women diagnosed with gestational diabetes mellitus (GDM), a condition affecting one in five pregnant women in the country. This innovative programme, launched in October 2023, seeks to provide comprehensive care from diagnosis through postpartum, addressing a significant gap in diabetes prevention.

Unlike traditional models where care often ends after childbirth, this multidisciplinary service integrates obstetrics, endocrinology, and community care. It aims to break the intergenerational cycle of metabolic disease by ensuring continuous support for mothers. “GDM doesn’t end at delivery,” said Dr Eng Pei Chia, who leads the service. “Our women-centred pathway focuses on postpartum follow-up, cardiometabolic screening, and practical support.”

The programme has already seen close to 400 women, with findings indicating that about 40% continued to experience poor blood sugar control post-delivery. Studies show that women with GDM have a 70% increased lifetime risk of developing type 2 diabetes, with half progressing to the condition within 10 years after delivery.

The NUH service offers a seamless pathway of care, co-managed by obstetrics and endocrinology teams, extending support beyond the sixth week post-delivery. Women identified as low-risk are referred to National University Polyclinics for community follow-up, whilst high-risk patients receive specialist care at NUH for up to five years.

This initiative not only empowers women with knowledge and confidence to manage their health but also aims to protect future generations from diabetes. Adjunct Associate Professor Khoo Chin Meng emphasised the importance of sustainable lifestyle changes, stating, “This isn’t just about the mothers, but also about protecting their families and future generations.”

The Visa Cash App Racing Bulls pop-up experience, Inside The Garage, has launched at ION Orchard, running from 25 September to 5 October 2025. This collaboration between Visa, HUGO, and TUDOR offers visitors interactive installations, exclusive rewards, and a chance to see the VCARB Showcar. A highlight of the event is a meet-and-greet with rising VCARB driver Isack Hadjar on 1 October.

The pop-up, located at ION Orchard’s B4 ION Station, features activities such as HUGO’s reaction speed challenge and TUDOR’s racing simulator. Visitors can participate in daily redemptions and limited-time draws, including a chance to win $730 (S$1,000) HUGO store credit from 30 September to 5 October. Additional rewards include VCARB LEGO sets and collectible driver cards.

Adeline Kim, Visa Country Manager for Singapore & Brunei, expressed excitement about the collaboration, stating, “This event is a testament to the power of collaboration and the shared vision of our brands to connect with people in meaningful ways.” The event also introduces the Spend & Get campaign, allowing Visa cardholders to redeem exclusive gifts at ION Orchard.

Singapore’s manufacturing sector experienced a significant downturn in August 2025, with output decreasing by 7.8% compared to the same month last year. This decline was primarily driven by a sharp contraction in the biomedical manufacturing sector. Excluding this sector, the overall manufacturing output saw a smaller decrease of 2.9%. On a month-on-month basis, the seasonally adjusted figures showed a 9.7% decline, with a 3.5% drop when excluding biomedical manufacturing.

The transport engineering sector emerged as a bright spot, recording an 18.9% increase in output year-on-year. This growth was largely attributed to the aerospace segment, which surged by 36% due to higher production of aircraft parts and ongoing maintenance, repair, and overhaul activities for commercial airlines. However, the land segment within transport engineering saw a 24.5% decline.

In contrast, the chemicals sector posted a modest 3.5% increase in output, driven by a 12.4% rise in the petroleum segment and a 10.9% increase in other chemicals, including fragrances. Despite these gains, the petrochemicals segment faced an 18% decline due to plant maintenance shutdowns.

The electronics sector experienced a 4.8% decrease in output, with significant contractions in semiconductors and other electronic components. However, the infocomms and consumer electronics segment expanded by 42.4%, buoyed by increased production of server-related products.

General manufacturing output fell by 13.9%, impacted by declines in the printing, miscellaneous industries, and food, beverages, and tobacco segments. The biomedical manufacturing sector saw a dramatic 37.3% contraction, primarily due to a 59.3% drop in the pharmaceuticals segment.

Changi Airport Group, in collaboration with Lotte Duty Free, is set to host the annual World of Wines & Spirits (WOWS) event on 24 and 25 October. Themed “Wonders Reimagined,” this year’s edition will showcase 63 rare bottles from 29 renowned labels, offering both travellers and non-travellers a unique opportunity to explore and acquire some of the world’s most exclusive wines and spirits.

The event, held at Changi Axis, will transform duty-free shopping into a multi-sensory experience. Attendees can expect nature-inspired zones, tasting galleries hosted by brand ambassadors, and innovative food pairings by Michelin-starred restaurant Nouri. The gala will also feature bespoke cocktails and live performances, enhancing the overall experience.

Highlights of the WOWS 2025 collection include the Johnnie Walker Vault Couture Expression, a collaboration between Master Blender Dr Emma Walker and French Creative Director Olivier Rousteing. The Macallan Fine & Rare Collection will also be featured, including the 1965 vintage, significant for coinciding with Singapore’s independence. Additionally, the Martell L’Or de Jean Martell Zodiac Edition – Assemblage du Cheval will be available, limited to just 750 bottles worldwide.

Changi Airport Group’s Managing Director, Hung Jean, emphasised the event’s focus on rarity and craftsmanship, stating, “This carefully curated portfolio aims to delight collectors and elevate the luxury retail experience.” Jeff Jeong Soongyu, Managing Director of Lotte Duty Free Singapore, highlighted the importance of collectability in defining value in the luxury wines and spirits market.

The WOWS event promises to be a remarkable gathering for connoisseurs and collectors, offering a glimpse into the world of rare and exquisite wines and spirits.

Storefriendly Singapore has launched an innovative online booking platform, enhancing the self-storage experience by allowing customers to book various space solutions seamlessly. This new platform, a first-in-industry proprietary system developed by Storefriendly, builds on the company’s pioneering efforts since mid-2023. It enables users to book self-storage, wine storage, document and business storage, coworking workspaces, and robotic storage (StorefriendlyGO) all in one place.

With seven locations across Singapore, including Paya Lebar, Clementi, and Jurong East, the platform offers flexibility and convenience. Customers can store personal items, business documents, or vintage wines, with prices starting at $72 (S$98) per month. The system simplifies the reservation process with an intuitive interface, allowing users to select storage type, size, rental duration, move-in date, and preferred location. A smart filter system ensures only available units are displayed, streamlining decision-making.

A standout feature of the platform is its interactive floor map, which lets customers visualise and choose their exact storage unit, enhancing transparency and control. Once a unit is selected, a clear summary page guides users through agreement acceptance.

This development marks a significant step in Storefriendly’s commitment to providing cutting-edge solutions for storage and workspace needs, setting a new benchmark in the industry. The platform’s user-friendly design and comprehensive offerings are expected to attract a wide range of customers seeking efficient and flexible storage solutions.

Pan Pacific Hotels Group (PPHG), part of Singapore’s UOL Group Limited, is enhancing its footprint in Southeast Asia by launching PARKROYAL Serviced Suites Hanoi. This move is part of the group’s strategy to tap into the region’s growing demand for long-stay accommodations, driven by robust economic growth and increasing international connectivity.

The new Hanoi property marks PPHG’s third venture in Vietnam, following recent openings in Jakarta and Penang. The group plans to introduce eight more properties across Vietnam, Cambodia, Thailand, Indonesia, and the Philippines over the next two years, bringing its total to 23 properties in Southeast Asia.

Vietnam’s economy is experiencing significant growth, with a GDP increase of 7.09% in 2024 and a tourism rebound that saw 17.6 million international arrivals. The country aims for 22 million visitors in 2025. This economic momentum, coupled with urbanisation in cities like Hanoi, is boosting demand for flexible, long-stay options.

A report by Savills highlights that Hanoi’s serviced apartments had an 86% occupancy rate in Q1 2025, a 4% rise from the previous year, with rental rates increasing by 5% year-on-year. PPHG’s latest launch aims to cater to this demand, offering premium long-stay accommodations for business travellers and families.

“Southeast Asia is a key pillar in our regional strategy,” said PPHG, emphasising Vietnam’s potential due to its dynamic economy and demand for extended-stay options. The new Hanoi suites complement the group’s flagship Pan Pacific Hanoi, marking a significant step in its regional expansion.

The iconic Chinese brand, White Rabbit, has brought a unique lantern art experience to Singapore’s Mid-Autumn Festival at Gardens by the Bay. The display, titled “Dancing of Butterflies,” creatively transforms the beloved White Rabbit creamy candy into vibrant butterfly shapes, with the candy’s signature red, blue, and white wrapper patterns forming dazzling wings. These luminous butterflies, set against shifting lights, have captivated numerous visitors.

This year marks both the 35th anniversary of diplomatic relations between China and Singapore and the 66th anniversary of White Rabbit. Since its inception in 1959, White Rabbit Creamy Candy has embraced the philosophy of “Share the joy, Share the warmth,” positioning itself as an ambassador of happiness connecting China with the world.

The lantern art presentation at the festival exemplifies how cultural themes and art can serve as a bridge, further promoting cultural exchange between China and Singapore and strengthening people-to-people bonds. In addition to the lantern display, White Rabbit participated in the festival market, offering visitors a chance to experience its sweet charm up close.

White Rabbit’s involvement in the Mid-Autumn Festival highlights the brand’s commitment to cultural exchange and its role in fostering international relations. As the festival continues, visitors can enjoy the enchanting display and partake in the celebration of cultural unity.