Singapore Path to Recover

Singapore – Minister Heng Swee Keat charted the path to recovery for the country

Oct 6, 2020

Deputy Prime Minister, Coordinating Minister for Economic Policies and Minister for Finance, Mr Heng Swee Keat, delivered a Ministerial Statement in Parliament on Monday, 5 Oct 2020. Minister Heng Swee Keat charted the path to recovery for Singapore, and explained how the country’s medium-term economic strategy will evolve to achieve inclusive and resilient growth.

DPM Heng also provided an update on the overall response to COVID-19, and outlined a three-pronged approach to a refreshed economic strategy that builds on the Industry Transformation Maps:

Remaking Singapore as a Global-Asia node of technology, innovation and enterprise;
Redoubling our efforts to foster inclusive growth;
Investing in economic resilience and sustainability.

In total, the Government is dedicating about $100 billion to fight COVID-19. The challenging fiscal position is expected to go into Budget 2021. The Government will continue to spend prudently and invest in our people, and is determined to leave behind a better future for our children.

Find here attached materials on the Ministerial Statement below for your reference and onward circulation.

Sources: MOF – Ministry of Finance, Singapore; ICCS The Italian Chamber of Commerce in Singapore

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GLOSSARY

LAWFUL BASIS

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Request access to your personal data (commonly known as a “data subject access request”). This enables you to receive a copy of the personal data we hold about you and to check that we are lawfully processing it.

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Request erasure of your personal data. This enables you to ask us to delete or remove personal data where there is no good reason for us continuing to process it. You also have the right to ask us to delete or remove your personal data where you have successfully exercised your right to object to processing (see below), where we may have processed your information unlawfully or where we are required to erase your personal data to comply with local law. Note, however, that we may not always be able to comply with your request of erasure for specific legal reasons which will be notified to you, if applicable, at the time of your request.

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Data Processing Terms of Business for Suppliers

DATA PROCESSING TERMS

In order that you as a service provider and data processor (referred to as “Processor” or “you” or “your”) may provide or continue to provide certain services (the “Services”) to us, the Business and data controller (referred to as “the Business” or “we”, “us” or “our”), you have agreed that these data processing terms (“Terms”) shall apply (notwithstanding any other terms and conditions applicable to the delivery of the Services to the contrary) in order to address the compliance obligations imposed upon the Business and its Clients pursuant to the Data Protection Law. These Terms shall constitute a separate agreement or they may be incorporated by reference in the relevant Services agreement, as the case may be.

BY ACCEPTING ANY MATERIALS FROM THE BUSINESS OR OTHERWISE COMMENCING THE SERVICES (“EFFECTIVE DATE”), YOU AGREE THAT THE PROCESSOR WILL PROCESS BUSINESS PERSONAL DATA IN ACCORDANCE WITH THESE TERMS, WHICH YOU HEREBY ACCEPT FOR AND ON BEHALF OF THE PROCESSOR.

NOW IT IS HEREBY AGREED as follows:

SCHEDULE: Security measures

Processor shall put in place the following measures, as applicable.

Minimum technical measures

Firewalls which are properly configured and using the latest software;
user access control management;
unique passwords of sufficient complexity and regular expiry on all devices;
secure configuration on all devices;
regular software updates, if appropriate, by using patch management software;
timely decommissioning and secure wiping (that renders data unrecoverable) of old software and hardware;
real-time protection anti-virus, anti-malware and anti-spyware software;
https;
encryption of all portable devices ensuring appropriate protection of the key;
encryption of personal data in transit by using suitable encryption solutions;
multi-factor authentication for remote access;
WPA-TKIP secured WiFi access;
delinquent web filtering and other appropriate internet access restrictions;
intrusion detection and prevention systems;
appropriate and proportionate monitoring of personnel; and
data backup and disaster recovery measures and procedures.

Minimal organisational measures

Vet all personnel including staff, contractors, vendors and suppliers (including Subprocessors) on continuous basis;
non-disclosure agreements used with all personnel;
regular training of all personnel on confidentiality, data processing obligations, identification of Security Breaches and risks;
apply principle of least authority, including a restricted or strictly controlled transit of data and material outside of office;
physical security on premises including reception or front desk, security passes, clean desk policy, storage of documents in secure cabinets, secure disposal of materials, CCTV, etc.;
apply appropriate policies including Information Security Policy, Data Protection Policy, BYOD, Acceptable Use Policy; limited and monitored personal use of work resources, as appropriate.