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The Singapore Economic Development Board (EDB), under Png Cheong Boon, is prioritizing knowledge and innovation-driven investments to support the nationás low-carbon transition. By mid-2025, Singapore aims to host over 40 AI centres of excellence, enhancing research in generative AI and reinforcing its status as a hub for digital and industrial firms. The EDB's recent launch of three accelerators has already fostered over 50 local startups, thanks to the collaborative efforts of Digital Industry Singapore, which includes the EDB, Enterprise Singapore, and the Infocomm Media Development Authority.