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SG Budget Reactions: SCCCI disappointed not enough near-term measures to help SMEs

Monday, February 20, 2017 - 18:54

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SINGAPORE'S Finance Minister, Heng Swee Keat, gave his Budget speech on Monday.

SINGAPORE'S Finance Minister, Heng Swee Keat, gave his Budget speech on Monday.

Budget 2017 took a further step on Singapore's economic transformation journey. It included measures to strengthen corporate capabilities, particularly in promoting digitalisation with the new SME s Go Digital Programme. There are also measures to promote innovation and overseas expansion.

Here are comments by the Singapore Chinese Chamber of Commerce & Industry (SCCCI) President, Thomas Chua:

"This is a long term budget that is aligned with the CFE recommendations for the medium and longer term. It has outlined specific initiatives in innovation, internationalisation and digitalisation. Businesses need to transform according to the new direction to capture new opportunities, create new revenue sources and to stay relevant.

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"However, businesses, especially SMEs, who are facing challenges are disappointed that there are not enough near-term measures to help them. Businesses are concerned with the impact on their business costs, especially with the immediate increase of diesel tax, and soon water price."

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