SG Budget 2017: S$150m for productivity fund for construction sector

THE government will introduce the public sector construction productivity fund with about S$150 million, to allow government agencies to procure innovative and productive solutions, Finance Minister Heng Swee Keat said on Monday. These solutions may have higher costs as they are nascent and lack scale.

Regulatory agencies will also explore way to facilitate innovation. A good example is the Health Sciences Authority, which will set up a priority review scheme to evaluate new and innovative medical devices.