In order to create the Trade Advisory Hub, which makes significant investments in artificial intelligence (AI) in Singapore, PwC Singapore announced that it will spend S$4 million ($3.1 million) over three years.
The company said in a statement that it has established its Trade Advisory Hub to assist companies in the global trade environment and to take advantage of Singapore’s growth prospects.
The Trade Advisory Hub, which is backed by the Singapore Economic Development Board (EDB), will assist both domestic and international businesses in adjusting to changing global trade dynamics, evaluating the effects on their supply chains and operations, and making more informed choices for regional expansion and change.
The investment will be used to develop specialized personnel, create cutting-edge resources and tools, and assist companies in sectors related to international expansion and trade.
“Businesses are grappling with heightened trade complexity—from supply chain reconfiguration to evolving regulatory requirements—making it harder to make timely, confident decisions,
“PwC Singapore’s Trade Advisory Hub is dedicated to directly address these challenges by providing integrated, practical advice that helps businesses manage risk, unlock opportunities and execute with greater certainty. With the support of the Singapore Economic Development Board, we are enabling companies to anchor in Singapore and compete more effectively in an increasingly uncertain global environment,” said Marcus Lam, Executive Chairman, PwC Singapore.
The creation of PwC Singapore’s Trade Advisory Hub, according to Weng Si Ho, Executive Vice President and Member of EXCO, EDB, will expand Singapore’s knowledge of trade and geopolitical risk management and provide new chances for the local workforce to acquire specialized skills in this field of increasing demand.
“The investment supports Singapore’s vision to be a trusted global node for businesses, enabling companies in Singapore and the broader APAC region to build greater resilience amid an increasingly complex and uncertain global operating environment,” she added.
The Trade Advisory Hub will leverage PwC Singapore’s expertise in supply chain, tax, and customs and trade, according to Frank Debets, Leader of the Trade Advisory Hub at PwC Singapore.
“In line with PwC global strategic thrust on the use of technology in all that we do, technology-enabled solutions, drawing heavily on AI, will be developed in collaboration with our AI Hub to help businesses manage risk, adapt to regulatory shifts and identify new avenues for international growth,
“The Trade Advisory Hub will help surface and elevate the international trade challenges businesses are facing on the ground, supporting better visibility of these challenges to senior management and enabling closer alignment between market needs and the broader business ecosystem in Singapore,” he added.
