Singapore to set up R&D fund, upgrade broadband networks

20 Feb 2006

Singapore’s prime minister and finance minister, Lee Hsien Loong, announced last Friday that his government plans to set up a fund to boost spending in research and development, earmarking investment of SGD5 billion (USD3.1 billion) over five years. The premier also announced plans to upgrade Singapore’s broadband networks to keep pace with advances in technology and investments in other countries, but stopped short of providing exact technical details. The state aims to develop new broadband networks in partnership with the private sector.