TO tap opportunities made available by new technologies and globalisation, Singapore has to make great efforts in economic restructuring, Finance Minister Heng Swee Keat has said. Read more at The Business Times.
TO tap opportunities made available by new technologies and globalisation, Singapore has to make great efforts in economic restructuring, Finance Minister Heng Swee Keat has said.
Every country hopes that its economy does not stay at the bottom of the value chain, he pointed out on Friday at a post-Budget forum organised by Chinese dailyCompanies therefore are encouraged to take advantage of the various programmes and grants from the government in corporate restructuring, he told the audience of 250 at The Fullerton Hotel Singapore.
The minister was responding to comments from business leaders on a panel, who expressed concern that the government planned to cut the number of foreign workers, announced in the latest Budget. The business leaders said they understand reducing reliance on foreign workers was inevitable, but they hope the government could be flexible in implementing the cuts for companies that have lagged behind in reducing such reliance, as well as to make the bitter pill more palatable.
Hence, he urged enterprises to apply for programmes such as SME Go Digital and Innovation Agents Programme in their restructuring. The Mandarin session was attended by participants who are mostly owners of SMEs, as well as representatives from trade associations.
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