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SG Budget Reactions: SMF says Singapore factories must aspire to go global

Monday, February 20, 2017 - 19:34

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SINGAPORE'S Finance Minister, Heng Swee Keat, delivered on Monday his Budget speech, which outlined plans for Singapore's economic transformation journey.

SINGAPORE'S Finance Minister, Heng Swee Keat, delivered on Monday his Budget speech, which outlined plans for Singapore's economic transformation journey.

Delivered on the cusp of major global shifts, Budget 2017 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, to ensure a caring and inclusive society as well as to cut Singapore's carbon footprint.

Here are some comments from Sunny Koh, deputy president of the Singapore Manufacturing Federation (SMF):

"Budget 2017 confirms that it is no longer business as usual. The global economy is facing significant political uncertainties and technological disruptions. Such challenges also present opportunities for businesses to transform and grow.

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Market voices on:

"SMF is heartened to note that the Finance Minister has introduced various forward-looking incentives, schemes and programmes to help local businesses to develop strong capabilities in order to compete effectively in the global economy.

"SMF is glad to note that the government recognises the critical role played by Trade Associations and Chambers (TACs) to help businesses in their transformation. SMF looks forward to the various Committee of Supply reports to help businesses in the manufacturing sector to make full use of the schemes available for them to innovate, scale up and grow globally.''

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