SINGAPORE, May 13 — Singapore must take action to attract leading AI firms and ‌also build on its status ​as a major energy hub, a committee set up to chart new areas of growth and ‌create jobs said in recommendations submitted to the government ​on Wednesday.

The proposals come as the city-state bets on artificial intelligence to transform its economy and its workforce, and as geopolitic tensions ​like the Iran war threaten to undermine growth and raise inflation.

Following are some of the recommendations made by the committee:

The committee said Singapore should respond to the difficult global environment by sharpening its ‌value proposition and build agility and adaptability.

Singapore should ⁠persuade leading industries to "anchor" in ⁠the country, building on its role ⁠as a key node ⁠in supply chains ⁠for industries like semiconductors.

Promising sectors include quantum technologies and space technologies, which leverage existing capabilities in semiconductors, ⁠advanced manufacturing, aerospace and satellite systems, the committee said.

Singapore should also aim to be a "trusted hub" where AI is developed, tested and deployed, and could do this by attracting leading AI companies and talent.

Singapore ⁠should build on its role as an energy hub and build capabilities in emerging domains such as liquefied ⁠natural gas trading, as well as in hydrogen, ammonia, and ⁠sustainable aviation ⁠fuels.

Deputy Prime Minister Gan Kim Yong delivered a ​speech addressing the recommendations at a ​business federation conference on Wednesday.

He ‌said, "In a changed world, Singapore ​cannot assume that yesterday's strengths ​will automatically become tomorrow's place." — Reuters