The Singapore Government believes that the growth of e-society, e-government and e-commerce requires transparent and market-favourable regulation and legislation. The legal, regulatory and business environment required to promote industry development and growth in the digital economy are also significantly different from those needed for traditional enterprise.
This presents challenges to the government that must adapt national and international policies to the new digital economy. We must ensure that our laws, which are designed for an earlier and different environment, remain relevant and do not unnecessarily impede the development of new and innovative services in the new environment. Regulations that are necessary should strike a balance between protecting consumers and promoting industry development, while not hampering the growth of new markets.
New policies and regulations should also be flexible enough to cater for technology changes and new global policy. The government will also continue to encourage industry self-regulation where feasible.
Some of the legal and regulatory policy measures currently in place include:
