S$450m to boost productivity in the construction sector

Singapore

TO raise productivity in the construction sector, the government will set aside S$450 million for the second tranche of the Construction Productivity and Capability Fund (CPCF) for the next three years.

This fresh funding, provided under the Second Construction Productivity Roadmap of the Building and Construction Authority (BCA), was announced by Senior Minister of State for National Development Lee Yi Shyan during the Committee of Supply debate on the ministry on Tuesday.

It follows the S$250 million committed under the first tranche in 2010, which was later topped up to S$335 million to quicken the pace of restructuring in a sector that has largely lagged its peers in productivity.

The additional funding is expected to benefit about 7,000 built-environment firms. For comparison, the first tranche had benefited almost 6,000 firms as at the end of January.…