Spending on cyber security will also rise, to at least 8% of the government's IT budget, the Ministry of Communications and Information (MCI) said.
MCI made the announcement as it outlined plans for its next five years. It will develop the cyber security 'ecosystem' in Singapore, and develop cyber security talent, it said.
"We will develop a national cyber security strategy to strengthen Singapore’s information infrastructure. Priority will be given to our critical sectors of energy, water, transport, health, government, infocomm, media, security and emergency services, and banking and finance," the MCI said.
"We will also seek international cooperation on cyber security to overcome the transnational nature of cyber threats, and work with the private sector to raise public awareness of the importance of cyber security," it said.
Singapore's Cyber Security Agency was set up last year to oversee cyber security strategy.
The announcement of a cyber security is no surprise, said technology expert Bryan Tan of Pinsent Masons, the law firm behind Out-Law.com.
"The area is constantly updated to face new threats. The original Computer Misuse Act has seen no fewer than five major amendments since 1993, including the last one in 2010 which renamed it the Computer Misuse and Cybersecurity Act," Tan said.