During a state visit to Sweden, Singapore’s President Tharman Shanmugaratnam announced that Singapore and Sweden will deepen their cooperation in advanced technologies, social cohesion, and economic competitiveness. This visit, marking 60 years of diplomatic relations between the two countries, saw the signing of a joint declaration on strategic cooperation in trusted and innovative technologies.
Both nations are set to explore collaboration in cutting-edge fields like semiconductors, artificial intelligence, quantum technologies, the Internet of Things, and the development of 5G and 6G applications. Tharman emphasized the mutual benefits of learning from each country’s approach to inclusive economic growth. Sweden’s model, which blends social equality with entrepreneurship, serves as an inspiration with its robust start-up ecosystem and supportive network of investors, mentors, and business founders.
The visit provided an opportunity to examine Sweden’s effective support for emerging enterprises, particularly its community of angel investors who reinvest profits into new ventures. This approach offers valuable insights for Singapore as it aims to enhance start-up funding and foster innovation.
Another key area of discussion was the collaboration between employers and trade unions in both countries, focusing on worker training, job transitions, and adapting to evolving industries. Tharman noted the shared commitment to ensuring that economic transformation creates new opportunities while supporting workers during these changes.
During his five-day visit, Tharman explored potential business and technological partnerships by visiting Swedish companies like Spotify, Ericsson, and Volvo. The discussions highlighted the countries’ long-standing bilateral collaboration, which has evolved from defense technology to include research, education, and energy sectors.
Looking ahead, the strengthened ties aim to bolster innovation, support inclusive growth, and enhance competitiveness in a challenging global landscape. The ongoing partnership reflects a shared vision for fostering sustainable economic progress through technological advancement and social equity.
