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Second, innovation. As a hub for research and development and technology, we will pursue events that provide a launchpad to advance new ideas, products and businesses. For example, the International Trademark Association (INTA) 2023 Annual Meeting Live+ we hosted here, in May 2023, organized an Open Innovation Challenge which produced winning ideas, such as an artificial intelligence-based solution for trademark management and advancing business efficiencies in the industry.

Third, sustainability. Singapore is set to become a leading sustainable MICE destination in Asia-Pacific. We have put in place targets, standards and certification to achieve this ambition together with our industry partners.

The Singapore MICE Advantage Programme (SMAP) is one of the tools STB uses to attract key events to Singapore. SMAP offers privileges to event organisers and MICE delegates, such as discounts on travel logistics and tourist experiences in Singapore. SMAP is fully funded by participating industry partners, such as Singapore Airlines Limited, Changi Airport Group (Singapore) Pte Ltd and Sentosa Development Corporation.

STB also makes long-term plans to address the MICE sector's infrastructure and workforce needs.

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