This means that $115 million will be spent on the third phase of the Renaissance City plan.

The plan, first launched in 2000, aims to transform Singapore into a global city for the arts. Minister of Information, Communications and the Arts Lee Boon Yang announced the boost in funds in Parliament on Friday.

He said the increased funding will go into three new areas:
-creating distinctive homegrown arts content;
-ensuring the business sustainability of the arts;
- strengthening arts and cultural bonds in the heartlands.

In particular, Dr Lee spoke of the need to 'draw on our diversity of arts talents to create new and inspiring works which reflect our multi-cultural society'.

To that end, the National Arts Council (NAC) will start an annual fund of $700,000 to commission a body of original scripts, stories, poetry and musical and dance compositions.

These works, said the Minister, should 'reflect our distinctive multi-cultural dientity as well as our Asian and contemporary context'.

The council will also introduce new schemes for artists and arts companies to participate in exchanges with overseas arts organisations.

More than $1 million a year would be spent on such programmes for international exposure and networking. Promoting the heritage of Singapore's many cultures would not be neglected, Dr Lee assured the House.

Instead, support for heritage industries such as museums will be expanded.

The National Heritage Board will devote $2 million each year to train professionals in heritage research and conservation, as well as support new cultural tourism services and exhibitions to reach out to foreigners and Singaporeans.

For those exploring business ventures in the arts, the NAC will establish start-ups and co-investment schemes targeted at the likes of commercial art galleries, artist management firms and festivals.

More than $700,000 a year will be invested in this Arts Business Framework.

Going forward, Dr Lee said his ministry also hopes to bring about 'deeper engagement and ownership of the arts and culture among Singaporeans', including those in the heartlands.

NAC will spend an additional $1 million a year to promote arts in the heartlands and give grants to arts projects involving the likes of the elderly, hospitals and prisons.