Chongqing - Fang Zheng, Director of the Office of Graduate Studies at the Singapore University of Social Sciences (SUSS), highlighted the critical role of education in fostering innovation and entrepreneurship within Singapore's economic development strategies during an exclusive interview with Bridging News on June 14.

The "Entrepreneurship and Innovation for Youth" Asia Youth Dialogue event co-occurred in China's Chongqing, Singapore, and Pakistan. It aimed to encourage dialogue among young entrepreneurs from China, Southeast Asia, and South Asia, focusing on innovation and challenges in emerging economies.

Fang Zheng, Director of Office of Graduate Studies of Singapore University of Social Sciences. (Photo/Fang Zheng)

SUSS is renowned for its flexibility, offering part-time courses catering to full-time students and working adults. This adaptability is reflected in the university's Office of Entrepreneurship, which serves as a central hub for entrepreneurial education, resources, and support.

Zheng emphasized, "Our university is dedicated to fostering a strong entrepreneurial culture. This office is crucial in integrating real-world business challenges with academic learning."

Singapore strategically focuses on four key economic sectors: the digital economy, the green economy, the care economy, and Industry 4.0. These areas are essential to the nation's vision for future development and sustainability.

Fang highlighted projects involving students in developing sustainable transport solutions and efficient waste management systems, positioning SUSS as a key player in shaping future leaders in sustainable development.

A notable example is the Alibaba Cloud SUSS Entrepreneurship Program. Fang explained, "This program provides students with mentorship, venture capital access, and practical business experience."

Stronger university ties for entrepreneurial growth

Fang acknowledged that Singapore's high cost of living and business operations can pose significant challenges for young entrepreneurs.

However, he praised Singapore's strong environment for encouraging young entrepreneurs. She highlighted the supportive government policies, including incentives and programs from the Singapore Economic Development Board (EDB) to help businesses grow and improve. Specialized task forces also aid entrepreneurs in tackling issues like recruiting talent and setting up operations.

Regarding international collaboration, Fang suggested enhancing relationships among universities in China, Southeast Asia, and South Asia. She emphasized the importance of these partnerships involving student and research exchanges in creating a conducive environment for young entrepreneurs.

Fang explained that SUSS has established academies in Shenzhen, Beijing, and Vietnam as part of its international strategy. These academies are crucial in providing students with direct exposure to various economic environments and business cultures.

Moreover, Fang revealed plans to expand SUSS's international presence. "We are planning to launch five more academies in the region, including in countries like Indonesia, the Philippines, and Malaysia, which will further our reach and impact in shaping global education standards," she shared.

In a discussion about the changing economic landscape in Singapore and Southeast Asia, Zheng emphasized Singapore's economy for its agility in adapting to global and regional changes. She pointed out that Singapore's small size enables it to adapt quickly, which also demands swift action to sustain growth and competitiveness. The region has experienced notable changes due to global economic pressures, such as the U.S.-China trade tensions and the Belt and Road Initiative (BRI).

China and Singapore have a robust collaboration, as demonstrated by the China-Singapore (Chongqing) Strategic Connectivity Demonstration Project (CCI). This partnership has led to significant developments, such as the creation of the New International Land-Sea Trade Corridor (ILSTC), the establishment of shopping centers and hospitals in Chongqing by Singapore, and the setting up of a research institute in Chongqing by the National University of Singapore.

Fang views the CCI as a dynamic force that strengthens economic ties and enriches cultural and academic exchanges, thereby fostering understanding and opening opportunities for students and young entrepreneurs across the region.