Ambassador Yip Wei Kiat emphasized the importance of government’s open mindedness. The Ambassador said, “Singapore government officials tries to find a solutions for startup companies and new technologies and ideas that we never heard of even if it is not compatible with current laws and systems. We rarely say no.” Furthermore he said that “We are disclosing detailed information about all departments and contact information in person so that startups from all over the world can communicate with the Singaporean government.” As a result, now Singapore has 450 financial technology startups.

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