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The adoption of digital technology by the Republic can improve the efficiency of transactions and increase financial inclusion, he added, qualifying for higher access to services "a key priority under our Asean chairmanship". Over the past two decades, Heng has warned that "good risk management" is also needed.
"As we develop our financial sector to respond to the needs of the real economy, we must properly manage risk. At the macro level, to maintain our resilience, we also need to prepare for major disruptions in global financial markets, "he said in a speech at the DBS Asian Insights Conference at the Marina Bay Sands Expo and Convention Center. last Friday.
The Minister cited the lack of good risk management in Asian emerging economies, as well as in the United States and Europe, as factors behind the recent crises – "consequences when the financial flows are decoupled from the underlying economic needs ". National, regional and global safety nets for the sector must continue to be strengthened, he said, highlighting processes such as the Asean + 3 financial cooperation initiatives and the multilateral support of the International Monetary Fund
. The development of the real economy is closely linked, "Heng said, calling for" effective intermediation of capital to channel savings into productive investment. "19659002] He added that the financial sector Singapore is now "able to support the development of the region, as the economic center of gravity shifts to Asia."
"Well done, infrastructure can help boost productivity. economic, the long-term potential of the region and the creation of a better living environment for our people. "
" Traditionally, much of the responsibility for investment in infrastructure rests with the government. given the magnitude of these needs, no government can fully finance this bank – or any bank. "
" We need to mobilize private capital from all sources s to accelerate infrastructure development in the region.
To this end, Singapore has set up the Asia-Infrastructure Office and will hold the Asia-Singapore Round Table on Infrastructure in October, he noted.
The private sector will also benefit from funding
DBS Director General, Piyush Gupta, gave the opening address at the DBS Asian Insights Conference on July 13, 2018.
Social Inequality, China's rise among the main trends reported by the DBS and panelists [19659002] The Monetary Authority of Singapore "revised the regulations to facilitate the activities of venture capital firms, and give more flexibility to financial companies to support small and medium-sized enterprises "Nister said.
" We are also working with industry players to establish private market financing platforms to enable growing businesses to have a better market. " n better access to a broader network of investors. "
can not simply improve" efficiency in channeling financial flows ", but also facilitate and deepen financial inclusion, in particularly with a growing middle class in Asia.
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