Economic Programmes
The Economic Programmes (EP) Directorate determines how our fiscal tools – tax, budget and other financial resources – are optimally deployed to our economic agencies as well as formulates policies for the development of Singapore’s corporate governance and regulatory framework and accounting standards so as to help develop:
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A globally competitive economy that is attractive to both investments and talent |
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A conducive environment that is best for business |
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An efficient and effective trading and communications infrastructure |
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An environment which is conducive to business and enterprise |
Major Policies and Initiatives
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Improving and Managing Singapore’s Human Capital |
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Promoting the manufacturing and services sectors |
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Improving the transportation network |
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Facilitating trade through customs and excise policies |
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Managing the investments of EDBI |
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Accounting standards for companies, charities, societies and cooperatives |
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Risk-based corporate regulatory framework |
The International Relations (IR) Directorate aims to influence the development of international economic issues including Free Trade Agreement (FTA) issues to advance Singapore’s financial and economic interests. It has the following objectives:
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To manage MOF’s bilateral and multilateral engagements with key foreign partners and at international platforms, such as ASEAN |
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To strengthen MOF’s foreign relations and enhance Singapore’s standing in international fora such as the IMF and The World Bank |
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To drive the development of a holistic and cross-directorate/agency approach to the FTA issues, shape and balance the outcome of the issues in the FTA negotiations to align with MOF's policies and goals, and function as a centralised focal point within MOF for information on all FTA issues |
Major Policies and Initiatives
Policies affecting the
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MFE Directorate on government procurement |
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FP Directorate on IRAS and DTAs |
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R&I Directorate on GLCs, competition and investment issues |
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EP Directorate on general taxation, customs procedures and cooperation issues |
The Social Programmes (SP) Directorate optimizes resource allocation to achieve Whole of Government (WOG) Strategic Outcomes in the social areas, specifically, social security, equal opportunities for all, an endearing home as well as rooted and engaged citizenry. We do so by shaping policies in education, housing, health, community development, environment, retirement adequacy, human capital development and sports. The following highlights our key interests:
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Annual budgeting for social Ministries (MOE, MCYS, MOH, MND, MEWR, MOM) and prioritization of projects across Ministries on the WOG level. |
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Work closely with Ministries and associated agencies to ensure continued fiscal sustainability, effectiveness and prudence of programmes. |
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Identify, research and analyze medium to long-term social challenges, develop strategies to address these challenges and coordinating inter-agency efforts where necessary. |
Government Administration & Security Programmes (GSP)
Government Administration & Security Programmes (GSP) advances leading ideas, create synergies and determines how our fiscal tools - budget and other financial resources – are optimally deployed to the central government agencies (MinLaw, MOF, PMO), security agencies (MINDEF, MHA, MFA) and key organs of state, in order to achieve the following objectives:
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A safe, secure and influential Singapore |
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An efficient and effective government administration |
The Managing For Excellence (MFE) Directorate
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Supports MOF’s strategic outcome of building a high performance government by advancing e-Government at the whole-of-Government level |
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Engages and leverages on IT platforms to create synergies across functions |
Major Policies and Initiatives
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Develop the e-Government Masterplan to chart the strategic direction for e-Government in Singapore |
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Enable and drive cross-agency initiatives that harness ICT to enhance synergies and efficiencies within the public sector |
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Enable and drive cross-agency initiatives that harness ICT to achieve seamless and convenient delivery of public service |
Performance & Resource Management
The Performance & Resource Management (PRM) Directorate:
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Supports MOF’s strategic outcome of creating a high performing government that uses its resources efficient and effectively |
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Ensure a balanced and sustainable allocation of government resources to meet the competing demands of the different sectors of our society |
Major Policies and Initiatives
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Best Sourcing |
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Public Private Partnerships |
Reserves and Investment
The Reserves and Investment (R&I) Directorate supports MOF’s mission to create a better Singapore through Finance. The Directorate:
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Oversees policies relating to the investment of reserves to ensure an appropriate balance between tapping investment returns from reserves to fund Government's expenditure and ensuring the continued growth of the reserves. |
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Formulates Government's policies on the protection of reserves. |
Major Policies and Initiatives
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Investment policy (e.g. risk tolerance and asset allocation) for managing our reserves |
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Governance and accountability mechanisms for reserves |
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Formula for spending out of investment returns from reserves |
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Corporatisation of Statutory Boards and divestment of corporate holdings owned by Ministries and Statutory Boards |
The primary responsibility of the Fiscal Policy (FP) Directorate is to:
The primary responsibility of Tax Policy (TP) Directorate is to:
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Formulate tax policies that promotes the development of Singapore through tax regime that is competitive, equitable and fiscally sound and resilient. |
Major Policies and Initiatives
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Overall tax regime (such as corporate income tax and Goods and Services tax (GST)) that is competitive, and advances the continued development of a highly innovative, productive and diversified economy with substantive and high value-added activities of businesses, big and small, local or foreign. |
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Overall tax regime (such as personal income tax, GST and property tax) that is competitive and equitable so as to encourage work, enterprise and effort of individuals. |
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International tax policies (such as the Avoidance of Double Taxation treaties (DTA) network of Singapore) that are consistent with promoting cross-border trade and investment, and with Singapore’s role as a sound international tax jurisdiction for substantive economic activities. |
The Corporate Communications (CC) Directorate supports the Ministry of Finance (MOF)’s mission to create a better Singapore through sound fiscal policies. It does this by managing the ministry’s corporate image through media relations, marketing communications and service quality. CCD also works with all other MOF directorates, departments and Statutory Boards to effectively communicate policies and new initiatives to domestic and international audiences, and aims to increase the mindshare of the MOF through proactive engagement of our key stakeholders.
The Corporate Development (CD) Directorate consists of:
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Admin, Security and Preparedness – Delivering excellent service to MOFHQ in Administration and Security. |
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Human Resource – Attracting, developing, engaging and retaining talent, performance management, manpower planning, succession planning, competencies development, organisation development, knowledge management and exit management. |
Major Policies and Initiatives
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Human Capital Development |
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Knowledge Management |
The Finance Directorate aims to ensure efficient allocation and use of resources (e.g. financial resources, fixed asset management, procurement activities) in MOFHQ to bring about a high performance government. Finance also works closely with our departments and Statutory Boards to achieve MOF’s mission.
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