Intervention by Minister for Law and Second Minister for Home Affairs Edwin Tong SC at WIPO Ministerial Policy Dialogue

Intervention by Minister for Law and Second Minister for Home Affairs, Edwin Tong SC, at WIPO Ministerial Policy Dialogue

“Bridge Builder: Innovation and Creativity Driving Future Societies”

Introduction

1.                 First, I would like to just start by thanking WIPO for providing this wonderful venue, and also for the session. It is very important to have an informal policy dialogue on this, but perhaps more importantly, it is an opportunity for us all to network and to build relations. Because it is not just the content that is important, it is also important that we know each other from across the world – different ecosystems, different jurisdictions, but all really having the same core objective.

2.                 I also want to thank the International Olympic Committee (IOC) for this lovely venue. Just one comment on this year’s World IP Day. The theme, “IP and Sports”, resonates with me deeply, because as the current Law Minister, but more importantly, as the former Sports Minister, to see IP and sports coming together is very innovative. Earlier on, DG, you mentioned that IP and sports bring together things like brands, logos and broadcasts – all really growing and exciting levers of promotion in terms of sports.  But I think sports is more than just about these ideas; sports really is about people, about the value of people-to-people relations, and I am very grateful to be here.

3.                 I thought I would use today’s theme to frame my remarks. Because I agree that IP builds bridges between innovators and markets, between domestic systems as well as global economy, and between all of us, operating in different jurisdictions with different legal systems and different IP systems.

4.                 But the question I thought I would frame is this: what makes these bridges strong enough to carry real weight, and to make a difference? I thought I would share Singapore’s perspectives with my learned colleagues.

A Bridge Needs Strong Foundations

5.                 First, I think a bridge needs strong foundations.

6.                 For Singapore, that foundation has always been anchored around the rule of law.

7.                 We are a small state with no natural resources, but we compete heavily on trust –  providing certainty that our rules are clear and consistently applied, and applied to everyone, irrespective of who you are and where you might come from; that our assets will be protected; and that disputes will be resolved fairly and efficiently.

8.                 That is why we have invested heavily in building a robust IP regime as an economic infrastructure.

9.                 This foundation has enabled Singapore to become a hub for IP-intensive industries, where businesses and innovators have the confidence to invest, to collaborate as well as to commercialise.

A Bridge Must Be Fit for Purpose

10.              Second is the theme that I picked up from various speakers as well as DG in the last couple of minutes is that bridge must be fit for purpose. It must be able to democratise the availability of information and allow smaller nations to level up.

11.              IP frameworks that were designed for an earlier era will also not serve the economy that we are in today.

12.              Let me highlight two areas.

13.              The first is in AI, because AI is vastly and very quickly reshaping how content is created, how innovations are developed and how brands are built. I think DG mentioned this is the fastest growing area. Singapore is actively reviewing our own IP regime to see how we should respond – not to slow innovation, because I think we must embrace and embed AI and technology into our progress, but to give it a more reliable path forward. There are new challenges, and the new generations of content creators are coming forward.

14.              The second is IP commercialisation. Intangible assets today account for over 90% of the market value of S&P 500 companies. Yet many SMEs today still struggle to unlock its true value and potential. Through Singapore’s IP Strategy 2030, we are deliberately setting our strategy to help the businesses, particularly the SMEs, to translate their intangible assets into real commercial value, through IP valuation framework. Because if you can have a framework that is systematically applied and universally accepted and understood, then I think we can begin to commercialise, monetise and maybe leverage it.

A Bridge Is Only Useful If Both Sides Trust It

15.              Third, a bridge is only useful if both sides trust it enough to build that connection.

16.              IP is inherently cross-border in nature – it has to be in today’s context, and therefore no single jurisdiction can alone shape the rules.

17.              That is why Singapore invests heavily in multilateral engagements – through WIPO, regionally, and bilaterally, because a true rules-based global IP system only works, if it is genuinely inclusive.

18.              That is why we value forums like today, the dialogues with all my counterparts and colleagues, and we look forward to even more of such engagements.

Conclusion

19.              Finally, I would like to assure WIPO and DG that Singapore remains committed to working with like-minded partners, to strengthen rules, to build up institutions to support multilateralism that underpin an IP system that is inclusive and benefits all in our time.

20.              Thank you.