Proceedings of the 4th International Conference on Informatization Economic Development and Management, IEDM 2024, February 23–25, 2024, Kuala Lumpur, Malaysia

Research Article

Singapore's Practices and Implications for Facilitating Digital Transformation in SMEs

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  • @INPROCEEDINGS{10.4108/eai.23-2-2024.2345930,
        author={Xiaoli  Liu and Beiyu  Lin},
        title={Singapore's Practices and Implications for Facilitating Digital Transformation in SMEs},
        proceedings={Proceedings of the 4th International Conference on Informatization Economic Development and Management, IEDM 2024, February 23--25, 2024, Kuala Lumpur, Malaysia},
        publisher={EAI},
        proceedings_a={IEDM},
        year={2024},
        month={5},
        keywords={smes; digital transformation; digital economy; singapore},
        doi={10.4108/eai.23-2-2024.2345930}
    }
    
  • Xiaoli Liu
    Beiyu Lin
    Year: 2024
    Singapore's Practices and Implications for Facilitating Digital Transformation in SMEs
    IEDM
    EAI
    DOI: 10.4108/eai.23-2-2024.2345930
Xiaoli Liu1,*, Beiyu Lin1
  • 1: Guangdong University of Science and Technology
*Contact email: 151287542@qq.com

Abstract

The Singapore government began to launch a series of strategies to promote digital transformation in both the public and private sectors in the early 1980s. In 2017, it officially launched projects for small and medium-sized enterprises (SMEs)to move towards digitalization and other supporting projects, which played a good role in promoting the transformation of SMEs. The article introduces the main practices of Singapore in promoting the digital transformation of SMEs, as well as the challenges and corresponding methods encountered by Singapore in promoting the digital transformation of SMEs. It also introduces how the CTOaaS project helped a vendor achieve digital transformation as a case study. These practices of the Singaporean government have implications for China or local governments in China, which mainly include: policies must be continuous and up-to-date, policies should avoid complexity and be simple to operate, policies should consider differences, and emphasis should be placed on improving the digital skills of enterprise employees.