Singapore Economic Development Board announces its new Managing Director for 2025

Thursday, November 21, 2024

The Ministry of Trade and Industry (MTI) has announced the appointment of Mr. Jermaine Loy as the next Managing Director (MD) of the Singapore Economic Development Board (EDB).

Mr. Loy, currently the Principal Private Secretary to Senior Minister Mr. Lee Hsien Loong, will take over from Ms. Jacqueline Poh on 1 March 2025, after serving as MD-Designate starting 1 January 2025.

Ms. Poh, who has led EDB since October 2021, will assume the role of Deputy Secretary (Industry) at MTI while continuing to serve as an ex-officio member of the EDB board until her transition. Mr. Loy will also be appointed to the EDB board from 1 March 2025.

Jermaine Loy: Leadership and Vision

Mr. Jermaine Loy joined the Prime Minister’s Office in 2021, serving as Principal Private Secretary to then-Prime Minister and now Senior Minister Mr. Lee Hsien Loong.

He has held leadership roles at the Ministry of National Development, where he oversaw strategic planning for Singapore’s land-use needs, as well as at the Ministry of Health and MTI. He is also a board member of the Maritime and Port Authority of Singapore.

Jacqueline Poh: Transformative Leadership at EDB

Under Ms. Jacqueline Poh’s tenure, EDB achieved record investment commitments in 2022, exceeding targets despite a complex global environment shaped by technological disruption, geopolitical challenges, and tax reforms.

Her leadership drove the development of key sectors including the digital economy, artificial intelligence, precision medicine, sustainability, and innovation.

Ms. Poh also bolstered Singapore’s presence in international business forums and strengthened ties with global industry leaders, particularly in technology and startups.

Dr. Beh Swan Gin, Permanent Secretary for MTI, praised her contributions:
“Jacqueline’s leadership has significantly enhanced Singapore’s position as a global hub for business, innovation, and talent. We welcome her to MTI in her new role and look forward to her continued impact.”

Strategic Transition for Singapore’s Economic Future

Dr. Beh also expressed optimism for Mr. Loy’s appointment:
“Jermaine’s vision and dedication will ensure EDB continues to implement transformative strategies that enhance Singapore’s economic competitiveness.”

This leadership transition underscores Singapore’s commitment to maintaining its status as a global leader in business and innovation while navigating an evolving economic landscape.