SMEs need to contribute more to Singapore economy: Chan Chun Sing
He said SMEs' current contribution of 47% of GDP can grow with more efficiency
Singapore
SMALL and medium enterprises (SMEs) in Singapore need to pull their weight in raising their contribution to the Singapore economy, by being much more productive and efficient.
This was the prognosis from Trade and Industry Minister Chan Chun Sing, who noted that while SMEs here make up 99 per cent of all businesses and employ 72 per cent of the workforce, collectively, they only contribute 47 per cent of Singapore's gross domestic product.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Malaysian fast food operator QSR shelves IPO plans amid boycott campaign: sources
WHO warns of bird flu risk spreading to cows outside US
Sri Lanka’s key inflation rate rises to 1.5% in April
Eurozone economy rebounds in first quarter, inflation stable in April
The Fed’s quantitative easing programme has cost too much
German economy skirts recession, helped by construction and exports