Productivity to play role in JTC lease renewals

[SINGAPORE] Industrialists who want their leases at JTC-owned factories renewed will have to show that they are taking serious steps to raise productivity, said Teo Ser Luck, Minister of State for Trade and Industry.

It is an important criterion, said Mr Teo in an interview with The Business Times.

"Because moving forward, we have to maximise the value of certain space as well, and we want to strengthen SMEs, so we put in that productivity element to say that if you want to renew, no problem, but we also want you to strengthen your own business using the same space. . . We want to see you, for instance, automate certain parts so you are more productive."