S$4.5b gameplan to create new value, drive growth

TO TAKE Singapore into the next phase of its development, a S$4.5 billion Industry Transformation Programme will be rolled out to help firms and industries create new value and drive growth.

"Even as we provide immediate relief and support amid the current cyclical slowdown, we must press on with economic transformation," said Finance Minister Heng Swee Keat, who announced the package in his Budget speech. "The global economic landscape is changing, and our challenges are pressing. We have a narrow window. We must find every opportunity to transform, to emerge stronger in the coming years."

This year, one of the three main pillars under the programme will be transforming enterprises by developing capabilities, leveraging on technology as well as scaling up and tapping overseas markets.