Bigger productivity push needed from SMEs

[SINGAPORE] The government hopes that more local companies will ramp up their efforts to boost their productivity, making this call especially to those that have yet to do so.

Minister of State for Trade and Industry Teo Ser Luck made this point as he warned that time was of the essence, given that the target to achieve productivity growth of 2 to 3 per cent per annum by 2020 is drawing near.

"It's important for SMEs (small- and medium-sized enterprises) to quickly take that first step, because it will take some time for productivity schemes to take effect," he told reporters yesterday.