Ms Low Yen Ling, the Senior Parliamentary Secretary for the Ministry of Trade and Industry, and Ministry of Education, said government agencies and companies must work hand in hand to establish a nimble and responsive regulatory framework.
"This will support the growth of new industries and businesses with the view of positioning Singapore as a compelling location to develop and commercialise innovations, disruptive technologies and new business models," added Ms Low, who was speaking at an awards event jointly organised by the PEP and the Singapore Business Federation.
She said the PEP will periodically call for proposals from industry stakeholders to review regulations based on specific themes while working closely with the Public Service Division (PSD) and Education Minister (Higher Education and Skills) Ong Ye Kung.
As many regulations straddle multiple sectors, the PEP and PSD will take a whole-of-government approach to facilitate better inter-agency coordination, Ms Low added.
The PEP is also expanding its links to the business community. In addition to its website, suggestions for rule changes can now be made via the websites of 28 regulatory agencies.
Over the next year, the PEP and PSD will also be outlining stories that show the benefits of regulatory changes already made.
"We hope these success stories will encourage businesses to be more forthcoming with suggestions, as well as motivate public service officers to continuously review how they can make a positive difference to companies with regulatory changes," said Ms Low.
The PEP will work closely with trade associations and chambers to organise workshops with industry stakeholders to examine regulatory issues and challenges.
These workshops will allow companies and relevant government agencies to identify the regulatory problems - whether real or perceived - facing businesses.
"This will help the government form concrete action plans to address the needs of businesses," said Ms Low.
Correction note: This story has been edited for clarity.