Speech by Minister of State for Energy, Trade and Industry Gan Siow Huang at the Singapore Fashion Council Be the Change Summit 2026

Ms Sharon Lim, President, Singapore Fashion Council,

Ms Zhang Ting-Ting, CEO, Singapore Fashion Council,

Good morning. I am pleased to be joining this Summit for the first time.

Speaking about change, today is an important milestone for the ministry I come from. Today, we are renamed the Ministry of Energy, Trade and Industry. We have added the word “energy” to the ministry name because energy has become an increasingly important part of the economy for trade and investments.

This year’s theme, “Fashion Futures: Resource Stewardship and Business Resilience”, is timely. Businesses across fashion and retail are navigating massive changes, including rising costs, global uncertainty, tariffs and rapid technological changes, even as consumers and markets expect more sustainable practices.

Sustainability is therefore no longer simply the responsible choice; it is increasingly becoming a business need. Companies that adapt early can become more competitive, more resilient, and unlock new markets and business opportunities. Today, I will highlight three priorities for the industry.

First, technology, including artificial intelligence, is creating new possibilities across the fashion value chain. Better traceability can give businesses and consumers greater visibility into where and how products are made, repaired, resold, rented and recycled. This can create new services, while at the same time improve materials and productivity. Taken together, these shifts can strengthen existing products and services, and create entirely new business lines.

We see this spirit among the IMPACT Award recipients, whom we are honouring today. The award recognises individuals and businesses for their contributions towards sustainability in fashion. Their achievements show that it is possible when innovation benefits businesses, society and the environment. I congratulate all recipients in advance.