- Jean Chia
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Ranked third most competitive financial centre in the world, Singapore has over the short span of its 50-year history established itself as a leading global financial hub. Yet the city-state does not owe its success solely to luck and fortuity. Rather, it is through the astute policy planning, active industry engagement, and long-range planning of its government that Singapore has managed to grow and develop its financial services sector.
This case study will provide an overview of Singapore’s emergence and rise to prominence as a leading global financial centre, in the process discussing its key strengths and value propositions as a financial centre. It will examine both the historical factors and policy initiatives that have driven Singapore’s successful transformation into a global financial hub.
It has been more than 15 years since the first public-private partnership for cybersecurity, “Partnership for Critical Infrastructure Security”, was established in the United States by the Clinton administration in 2000. Such partnerships leverage on the strengths of both the public and private sectors, and have become essential given the extent of privatisation, deregulation and globalisation in many countries’ critical infrastructure sectors. While the number of such initiatives are growing around the world, the cybersecurity problem does not seem to be slowing down. What are the challenges and opportunities with such partnerships? How can governments impose punitive regulatory structures and at the same time seek cooperative arrangements with the private sector? This analysis examines Singapore’s strategy and use of PPPs for tackling the issue of cybersecurity in its critical infrastructure sectors.