The rule of law engenders a more stable and predictable society, which in turn equips businesses with the confidence to invest, expand, and innovate, said Senior Minister of State (SMS) for Law and Transport Murali Pillai.
“Even in an uncertain world, there are opportunities. We must actively build new bridges and expand the ones we have already built,” Mr Murali said.
His comments came during a fireside chat, hosted by the Singapore Indian Chamber of Commerce and Industry (SICCI), on Feb 2, which drew about 100 business leaders, professionals, and community leaders to the One Farrer Hotel.
The current era sees intensifying geopolitical tensions, in which major powers wield influence through tariffs and protectionist measures to maximise their interests, often at the expense of others.
Mr Murali cited the example of a logistics company confidently planning new distribution hubs without fear of sudden disruption, or a retail chain deciding to open more outlets with the assurance that communities will remain strong and supportive.
“The Rule of Law is the framework that gives you the certainty to grow, innovate, and pass your enterprises on to the next generation,” Mr Murali noted.
A safe business environment and a stable society are only possible through a legal system that is jointly respected by all, he added.
2026 is a significant year in Singapore’s legal history, marking the 200th anniversary of the country’s modern legal system.
SMS Murali also highlighted SICCI’s contributions in strengthening the broader economy and society by deepening its role as a trusted platform for business connectivity through trade missions, international engagements, and national-level delegations.
This growth is evident in SICCI’s membership, which increased from 477 in 2022 to 656 in 2025.
Recent initiatives, such as linking Singapore’s PayNow system with India’s Unified Payments Interface, demonstrate how practical partnerships can deliver tangible benefits, he noted.
Mr Murali concluded with the notion that the rule of law is empty without an anchor in the substance of commerce.
“There would be no peace or prosperity in Singapore – or indeed anywhere – without a strong and energetic business community,” he explained.
The fireside chat, moderated by SICCI chairman Neil Parekh, focused on the intersection of law, commerce, and community responsibility in an increasingly complex global environment.
“In times of global uncertainty, strong institutions, principled leadership, and a values-driven business community matter more than ever. This fireside chat reflects SICCI’s belief that commercial success and community responsibility are not separate pursuits,” Mr Neil said.
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1 Jan 2026 12:23
