Administrative Procedures : Deregulation

Singapore believes in the discipline of market forces and has, in the past few years, embarked on a programme to corporatize/privatize the provision of major public services. These include electricity, gas, telecommunications, local transport (including train, bus and taxi services), broadcasting and postal services.

Regulation, where applied, is to provide prudential supervision (for example, in the financial services sector), ensure public safety, protect consumer interests, protect national security interests and ensure that the Singapore market is not over-supplied.

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• maintain high transparency of its regulatory regimes and explore ways to further improve transparency.

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• continue with its programme to corporatize and privatize major public services where appropriate. The next in line is port management where the Port of Singapore Authority will be corporatized and its shares eventually floated; and
• continually review current regulatory regimes with a view to eliminating any over-regulation and unnecessary bureaucracy.

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