In response to Forum writer Lisa Liu Jia Qian’s letter “Time to acknowledge volunteerism in economic indicators” (Nov 14) on acknowledging volunteerism in economic indicators, we would like to recognise the significant economic value contributed by volunteers, particularly in the context of the Singapore International Foundation (SIF).

The SIF’s operations, spanning healthcare, education, the arts, business and livelihood, thrive on the selfless dedication of more than 5,500 volunteers, both Singaporeans and friends of Singapore.

Since its inception in 1991, the SIF has been a testament to the transformative power of volunteers who offer their time and talent generously. Their collective efforts have made a positive difference to over 16 million lives, while fostering cross-cultural friendships with 28 countries.

Crucially, the SIF recognises and accounts for the economic significance of volunteer contributions. The Economic Value Contribution (EVC) has been calculated and documented in our annual financial statements since 2018, surpassing $1 million to date. This figure underscores the tangible economic impact of volunteerism within our organisation.

Assigning a monetary value to volunteer efforts is not intended to reduce their intrinsic value to mere numbers. The EVC serves as a quantifiable metric to demonstrate the scale and significance of our volunteers’ contributions, ensuring that their efforts are recognised within the economic framework.

Beyond the economic aspect, our volunteers play a pivotal role as enablers and global citizens, facilitating the connection of communities, enabling collaboration, and ultimately contributing to positive social change and global betterment.

Kavita Ratty Deputy Director, Communications and Engagement Singapore International Foundation