The Ministry of Trade and Industry (MTI) is a government agency in Singapore responsible for formulating and implementing trade, industry, and economic development. Its primary mission is to promote sustainable economic growth, enhance Singapore’s competitiveness, and create opportunities for businesses and workers.

Key responsibilities of the Ministry of Trade and Industry include:

Trade Policy: MTI develops and implements trade policies to facilitate international trade and investment flows, expand market access for Singaporean goods and services, and promote free and fair trade practices. This includes negotiating trade agreements and participating in international trade forums to advance Singapore’s interests in global trade.

Industry Development: MTI supports the growth and development of key industries in Singapore through various initiatives and programs. It works closely with industry stakeholders to identify opportunities, address challenges, and promote innovation, productivity, and competitiveness across manufacturing, services, and technology.

Economic Planning: MTI plays a central role in long-term planning and strategy formulation. It conducts research, analysis, and forecasting to assess economic trends, identify emerging opportunities, and develop policies to sustain economic growth and resilience.

Investment Promotion: MTI promotes foreign direct investment (FDI) into Singapore by attracting multinational corporations (MNCs), encouraging strategic partnerships, and supporting investment projects that contribute to Singapore’s economic development and competitiveness.

Enterprise Development: MTI supports the growth and competitiveness of Singaporean enterprises, particularly Small and Medium Enterprises (SMEs), through various programs and initiatives. This includes providing access to financing, fostering innovation and technology adoption, and facilitating internationalization efforts.

International Economic Relations: MTI represents Singapore’s interests in international economic forums and organizations, advocating for policies and initiatives that promote global economic stability, cooperation, and sustainable development.