Friday, May 30, 2025
Singapore continues to solidify its reputation as a global nexus for business, innovation, and high-impact dialogue through a pivotal partnership between the Singapore Tourism Board (STB) and the Milken Institute. Announced on May 29, 2025, the signing of a Memorandum of Understanding (MoU) secures Singapore as the host city for the prestigious Milken Institute Asia Summit from 2026 through 2028.
This collaboration underscores Singapore’s strategic importance as a Global-Asia node where thought leaders, senior government officials, investors, and business executives converge to tackle pressing regional challenges and shape future opportunities. By anchoring the Summit in Singapore for three consecutive years, both organisations strengthen their shared commitment to fostering meaningful dialogue and innovation in the Asia-Pacific region.
In this feature, we delve into the significance of the MoU, how it highlights Singapore’s role in the global meetings, incentives, conferences, and exhibitions sector, and what attendees and the region can expect from this ongoing partnership.
The Milken Institute Asia Summit: A Premier Platform for Global Leaders
Since its inception in 2014, the Milken Institute Asia Summit has earned a reputation as an exclusive, world-class forum. It annually gathers:
- Business leaders
- Senior government officials
- Top finance executives
- Institutional investors
- Philanthropists
The event serves as a critical platform for discussing key economic, financial, and social issues affecting Asia and beyond. The Summit blends conference sessions, private roundtables, and networking events to foster actionable solutions and partnerships.
Singapore’s status as the Milken Institute’s Asia headquarters ensures the Summit remains deeply rooted in the region, enhancing its relevance and impact.
Strategic Timing: Summit Aligns with Singapore’s Formula One Race Week
The upcoming 2025 Milken Institute Asia Summit is scheduled for October 1–3, coinciding with Singapore’s famed Formula One race week. This timing strategically fuses world-class sporting entertainment with high-level business discourse, underscoring Singapore’s vibrant business events ecosystem.
By synchronizing with a major international sporting event, Singapore not only attracts global decision-makers for stimulating dialogue but also offers a dynamic environment where business meets lifestyle—an attractive combination for delegates and sponsors alike.
Strengthening Singapore’s Position as the World’s Best MICE City
Melissa Ow, Chief Executive of the Singapore Tourism Board, emphasises Singapore’s role as an essential gateway for global organisations targeting the Asia-Pacific market. Key highlights include:
- Singapore as a Global-Asia hub for business and innovation
- The MoU reinforcing Singapore’s status as the World’s Best MICE City
- Commitment to hosting influential thought leaders and changemakers
- Positioning Singapore as the epicenter for global business and innovation dialogue
This MoU cements the long-standing partnership between STB and Milken Institute, reflecting a mutually beneficial relationship that dates back to the Summit’s launch in Singapore.
The Milken Institute’s adaptability was evident during the COVID-19 pandemic when the 7th Asia Summit pivoted successfully to a hybrid format in 2020. The event brought together 200 in-person attendees and over 1,100 virtual global leaders and executives, earning recognition with the ‘Outstanding Event Organiser’ award at the 2021 Singapore Tourism Awards.
This achievement demonstrates the resilience and innovation that both organisations bring to the table—qualities that will shape future Summits hosted in Singapore.
Recent Collaborations and Continued Growth
Recent years have seen STB and the Milken Institute collaborate on several high-profile occasions:
- The 2023 Milken Institute Global Conference in Los Angeles, where STB hosted a Sponsors and Speakers Welcome Reception, showcasing Singapore’s hospitality.
- The 2024 11th Milken Institute Asia Summit in Singapore, featuring participation from Singapore’s Deputy Prime Minister and Minister for Trade and Industry, Gan Kim Yong, and Minister for Health, Ong Ye Kung.
These events highlight Singapore’s ability to host influential global audiences and demonstrate the government’s commitment to nurturing a dynamic business events scene.
Voices from Leadership
Richard Ditizio, CEO of the Milken Institute, reflects on the strong partnership with Singapore:
- The generosity and support from STB when setting up the Milken Institute’s Asia headquarters in 2014
- The ongoing role of STB as a trusted partner across engagements in Asia and the United States
- Renewed commitment to anchoring the signature Asia Summit in Singapore through 2028
This leadership continuity ensures the Milken Institute Asia Summit remains a flagship event that continues to draw global leaders to Singapore year after year.
Singapore Tourism Board: Shaping the Future of Travel and Business
As the lead development agency for tourism in Singapore, STB’s mission revolves around:
- Driving economic growth through tourism and business events
- Delivering the Passion Made Possible brand, promoting Singapore as a vibrant destination
- Cultivating a tourism landscape that fosters innovation, inclusivity, and sustainability
STB’s collaboration with global partners like the Milken Institute plays a crucial role in maintaining Singapore’s competitive edge in the international MICE sector.
Milken Institute: Driving Meaningful Progress Globally
The Milken Institute is a nonprofit think tank focused on accelerating solutions in:
- Financial health
- Physical and mental well-being
- Environmental sustainability
By bringing together innovators and decision-makers, the Institute tackles critical global challenges, focusing on what’s urgent now and anticipating future trends. Hosting the Asia Summit in Singapore aligns perfectly with its vision of leveraging regional hubs to solve global issues.
Looking Ahead: The Impact of the MoU on Singapore and the Region
This MoU promises to:
- Enhance Singapore’s global business events profile
- Facilitate deeper cross-border collaboration in Asia-Pacific
- Attract more high-caliber international delegates
- Generate economic benefits through increased business tourism and associated industries
For Singapore, the extended hosting commitment solidifies its role as a magnet for high-level international dialogue and a launchpad for impactful regional initiatives.
Final Thoughts
The partnership between the Singapore Tourism Board and the Milken Institute exemplifies the power of strategic collaboration in positioning Singapore as a beacon of global business excellence. Anchoring the Milken Institute Asia Summit in Singapore from 2026 to 2028 strengthens the city’s ability to convene global leaders, spark innovation, and chart pathways for sustainable growth.
As Singapore continues to welcome thought leaders and changemakers, this collaboration heralds exciting possibilities for the future of business, innovation, and regional development.
