Singapore’s chairmanship of the Association of Southeast Asian Nations (ASEAN) this year is best encapsulated in two words – resilience and innovation.On Saturday, at the opening ceremony of the 32nd ASEAN Summit, Singaporean Prime Minister and ASEAN chair, Lee Hsien Loong articulated that bold vision.He stressed that amid changing geopolitical realities at an international and regional level, ASEAN would have to rapidly adapt or risk falling into irrelevance.

Vietnam’s Prime Minister, Nguyen Xuan Phuc arrived in Singapore early this week for an official visit ahead of the 32nd ASEAN Summit. Nguyen Xuan Phuc made the official visit at the invitation of Singapore’s Prime Minister, Lee Hsien Loong. The visit was to celebrate the 45-year relationship between both countries since establishing diplomatic ties in 1973. The visit also marks the fifth anniversary of the establishment of the strategic partnership between Vietnam and Singapore in 2013.

After much speculation, the Singaporean government finally revealed this year’s budget for the country. In his speech, Singapore Finance Minister, Heng Swee Keat talked about three major shifts facing Singapore in the coming decade – a greater emphasis on Asia, the emerging of new technologies and an aging population. The budget that Heng Swee Keat presented featured some surprises as well as some already expected measures.

Singapore’s economy grew at a faster pace than economists estimated in the fourth quarter of 2017, boosted by services such as finance and insurance.Gross domestic product rose at a seasonally adjusted and annualized rate of 2.8 percent from the previous three months, according to preliminary figures from the trade ministry on Tuesday. The median estimate of eight economists in a Bloomberg survey was 1.6 percent.

Singapore raised its economic growth forecast for this year to 3 percent to 3.5 percent after third-quarter data beat projections on the back of stronger exports and manufacturing.Highlights of GDP Report Gross domestic product rose at a seasonally adjusted, annualised rate of 8.8 percent in the third quarter from the previous three months, higher than an earlier estimate of 6.3 percent Median estimate of nine economists in a Bloomberg survey was for 7.8 percent gain GDP increased 5.2 percent

Singapore prides itself as a nation with one of the most efficient public transportation systems in the world. However, that reputation has taken a hit, of late, when a stalled Mass Rapid Transit (MRT) train was rear-ended by another train, injuring 29 commuters.This was the third incident to happen in two months after two separate incidents occurred last month.

Tan Min-Liang, co-founder of one of the world’s most recognisable gaming brands, Razer, has some exciting times ahead of him. His brainchild, founded in 2005, is now the premium brand for gamers worldwide. It is a company that has become synonymous with video game culture and has earned a loyal following amongst professionals and amateurs alike.After 12 years, the company is finally on the cusp of launching an IPO in Hong Kong.

Airlines, airports and passportsIn this past week, news in ASEAN countries mainly focused on airports and the aviation sector. In Malaysia, AirAsia – the leading low-cost carrier in the region – announced that it is partnering up with SATS Ltd of Singapore to expand its reach in both countries. The low-cost carrier is also looking at beefing up its current fleet and is expected to bring in 23 new planes by the end of 2017.

Britain's Prince Charles and his wife Camilla arrived in Singapore Monday to kick off an Asian tour aimed at cementing relations ahead of a meeting of Commonwealth states next year.The heir to the British throne and Camilla are undertaking an 11-day trip that will also include stops in Malaysia and India.

TensionsTensions have risen in Southeast Asia over the past week, particularly in Myanmar and the Philippines. Scores of Rohingya refugees who were fleeing their homeland in northern Rakhine state of Myanmar found themselves stranded at the Bangladeshi border.