In Singapore, significant recommendations for the upcoming 2026 Budget are being put forth by the Singapore Business Federation (SBF) and PwC. Starting from December 2, the Finance Ministry has called for public input, leading to SBF and PwC urging the government to bolster intellectual property (IP) financing and accelerate ASEAN economic integration. These recommendations highlight the importance of these sectors to Singapore's exports, particularly to the United States. Importantly, this will be the second collaboration between SBF and PwC, following last year's where more than half of their suggestions were implemented. Mr. Kok from SBF mentioned this year’s focus includes a mix of innovative areas like IP financing, carbon trading, and how Singapore can leverage its forthcoming role as ASEAN chair in 2027 to foster regional economic growth. One key proposal was to expand the Johor-Singapore Special Economic Zone to include Indonesia's islands, making it more appealing to global investors. This reflects a recognition that current market dynamics and competition necessitate a proactive approach to enhance Singapore’s attractiveness as an innovation hub. In terms of workforce issues, while last year’s proposals heavily leaned on workforce transformation, this year's report has somewhat reduced that focus, giving room for the new government programs that aid workforce adjustments to take effect. However, hiring and retaining older workers remains a priority. The recommendations also include increasing the flow of foreign workers into sectors where Singaporeans are less willing to fill roles, specifically civil engineering and logistics. Furthermore, PwC's Singapore executive chairman, Marcus Lam, expressed concerns regarding the challenges companies face in decisions about investments, automation, and decarbonization pathways. He suggested that Singapore must improve its IP financing landscape to compete with advancements seen in countries like China and South Korea. One of the barriers identified is the local banks' preference for traditional collateral types, which hampers the use of IP as loan collateral. Thus, Lam's suggestions included creating a digital IP collateral registry and broader risk-sharing schemes for IP-backed loans, pointing out the potential impact these measures could have on Singapore's innovation ecosystem.