Singapore Defence and Security Report 2015
BMI View: We expect Singapore's defence budget to continue increase in absolute terms over the next fiveyears. This will be driven by regional threats faced by Singapore, in particular maritime piracy and thethreat posed by radicalised Muslims in Indonesia. As Singapore's armed forces remain limited in number ofpersonnel, due to the country's demographics, the SAF will continue to develop its third generation SAFfocus on well-trained and well-equipped personnel. This will open up development opportunities forinternational companies seeking to enter Singapore's procurement process and take advantage of its verygood business environment. Opportunities for local companies might still continue to face seriouscompetition from STE for yet another few years.
Singapore has not updated its Defence White Paper since 2004, however the regional threats it is currentlyfacing are a good indicator of the factors that will be contributing to driving up the country's defencespending in the next five years. Indeed, while its relations with Malaysia and Indonesia have significantlyimproved in the past few years, the number of radicalised Muslims from these countries, especiallyIndonesia, that are joining Islamic State in its fight is an increasing concern for Singapore's security. Thecountry itself has been developing a number of policies aimed at maintaining economic, social, civil andpolitical stability, but the proximity of these fighters can potentially threaten such stability.
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