The global economy today is not facing a question of growth itself, but rather entering a phase where the very nature of growth is changing. Technology is advancing rapidly, yet productivity remains stagnant. ESG has become important, but is often perceived as a cost. Countries speak of "sustainable growth," but structural answers to what and how things should change remain unclear.
This column begins with that very question. It aims to examine why the next phase of growth cannot be explained by linear or circular economy models alone, and how one nation is attempting to break through these limitations at the national strategy level—through Singapore's national research and innovation strategy, RIE2030.
Singapore is a city-state with scarce resources. Nevertheless, it has consistently published national research and innovation strategies every five to ten years, linking them to industrial, fiscal, and diplomatic strategies. RIE2030 is the latest version, and simultaneously represents a national attempt to design the "next growth order" beyond a mere research plan. It is essential to understand why RIE2030 emerged, how it is actually being used, and what systemic changes it intends to bring about.
RIE2030 stands for "Research, Innovation and Enterprise"—a national blueprint outlining which sectors Singapore will focus its research and innovation resources on through 2030.
However, understanding RIE2030 merely as a research funding allocation plan misses its essence. This document is closer to a policy architecture for economic structural transformation than a technology roadmap. Centered on four domains—manufacturing, health, urban solutions, and digital—it designs how technology development connects to industry and society, and how outcomes expand into fiscal policy, finance, and international cooperation.
Notably, RIE2030 marks a clear departure from previous strategies in that it began treating research outcomes not as "papers or patents" but as "national assets."
So why does the Singapore government publicly release such documents? This is not mere policy promotion. Such documents serve three functions simultaneously.
First, codification of policy direction. Rather than plans shared only within the government, they serve as signals ensuring that industry, the financial sector, and international partners all look in the same direction.
Second, criteria for resource allocation. They are used as standards justifying priorities for research funding, infrastructure investment, regulatory relaxation, and international cooperation.
Third, building international trust. Through RIE2030, Singapore sends a message to the international community: "This is what kind of economy we are building, and the process is transparent." This becomes an important reference point in investment, technology cooperation, and relations with international organizations. In other words, RIE2030 is not simply a policy document but closer to a national declaration showing how Singapore wants to define itself.
The core concept this column proposes is the "Cross Economy." Cross Economy refers to an economic structure that transforms the very nature of value, rather than simply reusing existing resources or outcomes. For example, waste becomes resources, data becomes assets, and ESG becomes investment criteria rather than costs. What matters is not "whether it circulates" but "what it transforms into."
RIE2030 is structured to experiment with Cross Economy at the national level. Digital Economy serves as the implementation infrastructure, and Digital ESG functions as the mechanism for measuring transformed value and converting it into trust. This combination is not a technology strategy but a redefinition of the growth order.
So how will the next growth order differ? This column will address how future growth is not a question of producing more, but of how to transform and multiply value.
Singapore's RIE2030 is one national answer to that question. Through this column, rather than accepting that answer as is, I intend to dissect it, compare it, and pose questions to Korean readers.
What growth order are we preparing for? And is our current policy and industrial structure designed to fit that order? I hope to work through these questions together with readers going forward.
·Distinguished Professor, School of Materials Science and Engineering, Nanyang Technological University (NTU), Singapore
·Chief Industry Officer (reporting to the President), Director of Centre for Cross Economy, Director of Flagship Programme at NTU
*He researches national growth strategies based on science, technology, and digital foundations, as well as Cross Economy models. He presents transformational economic structures combining RIE2030, Digital Economy, and Digital ESG, and participates in international policy demonstration and standards design centered on Singapore and ASEAN. Through transformative research connecting research, industry, and policy, he continues discussions on the next-generation global growth order.