Singapore is considering lifting quarantine requirements for vaccinated travelers.

• Transport Minister S. Iswaran stated that we want to pivot to allowing travelers to enter the country without quarantine as long as they are vaccinated and can prove it.
• Last year, Singapore's passenger traffic was approximately 15% of its pre-Covid level, and the city-state aims to continue this trend.

Transport Minister S. Iswaran stated that Singapore aims to eventually exempt all vaccinated travelers from quarantine requirements in the country.

He stated in an interview with CNBC on Thursday that with increased vaccination and boosting of populations, as well as improved testing and safe management protocols, we can now implement measures to resume travel.

With certain countries, Singapore has established vaccinated travel lanes, allowing vaccinated travelers to visit without serving quarantine, according to Iswaran.

Iswaran stated that as long as the traveler can prove they are vaccinated, they should be able to enter the country without quarantine, and we want to pivot to that.

Last year, Singapore's passenger traffic was approximately 15% of its pre-Covid level, and the city-state aims to continue this trend.

Singapore has previously stated its intention to ease restrictions following the peak of its current omicron wave. Despite seeing local infections rise to over 20,000 cases per day this year, they have since fallen to over 10,000 a day in recent weeks.

Singapore economic outlook

CNBC reported that Iswaran stated that the recent energy price shock will negatively impact Singapore.

As a small open economy, we are always significantly exposed to exogenous impact, making us vulnerable to recession, he stated in response to a question.

He stated that the rise in energy prices would have a significant impact on the economy as a whole.

Since Russia invaded Ukraine, oil prices have increased due to worries about the existing supply. The U.S. prohibited Russian energy imports, while the U.K. and European Union announced plans to phase out the country's fossil fuels.

Russia ranks third globally in oil production, behind the U.S. and Saudi Arabia. It is also the largest exporter of crude oil to international markets and the leading supplier of natural gas to the European Union, accounting for approximately 43% of its needs.

On Wednesday, U.S. crude prices fell more than 10% due to reports that the U.S. might increase oil production from other sources. Despite this, both U.S. crude and international benchmark Brent have increased by more than 20% since the start of February.

A rise in energy prices could lead to an increase in inflation, negatively affecting consumers' finances.

Iswaran stated on CNBC that Singapore has expedited its timeline for transitioning to eco-friendly transportation, including expanding charging infrastructure for electric vehicles by 2025. However, he emphasized that this initiative is distinct from the increase in energy prices.

"The shift towards electric vehicles (EVs) preceded the energy crisis because the primary objective is to transition to cleaner energy vehicles and gradually replace traditional vehicles with EVs in the first place, ultimately leading to a complete transformation of Singapore's vehicle fleet," he stated.

Although there is a drive towards electric cars, Singapore's main focus is to decrease the number of vehicles on the roads.

As a small city-state with limited land, our priority has always been to implement a car-light strategy, he stated.