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Singapore government agencies' initiatives more pro-business: survey

Wednesday, November 25, 2015 - 15:41

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More businesses in Singapore feel that government initiatives have become increasingly business friendly.

MORE businesses in Singapore feel that government initiatives have become increasingly business friendly.

On Wednesday, the 2015 Pro-Enterprise Index, a measure of how business-friendly government agencies are, came in at 76.4, compared with 74.2 in 2014.

According to a joint release by the Ministry of Trade and Industry (MTI) and Singapore Business Federation (SBF), the Maritime and Port Authority of Singapore (MPA) again emerged the top agency among the 28 agencies surveyed for the fourth year.

The Inland Revenue Authority of Singapore (Iras) bagged the most number of awards, receiving four. It was recognised for its active partnership with businesses to roll out notable initiatives. These included extending the validity period for the Major Exporter Scheme and allowing Goods & Services Tax (GST) claims on the re-import of goods belonging to local and GST-registered overseas businesses. It had also made significant improvements in its ranking for the 2015 PER Survey (third in 2015, up from 17th in 2014).

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The annual PER survey is commissioned by the Pro-Enterprise Panel (PEP) to assess the pro-enterprise performance of government regulatory agencies. This year's survey includes two new agencies, the National Parks Board (NParks) and Council for Estate Agencies (CEA).

"Good business regulations enable the private sector to thrive and they enable businesses, particularly SMEs and startups, to start, grow and become more competitive. To sustain our competitive edge, we must continue to work together,'' Lawrence Leow, honorary treasurer of the SBF and chairman of the SME Committee, said.

This year saw the introduction of the new Pro-Enterprise Partner Award which recognises private sector contributors with the highest number of accepted suggestions in the year.

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